Better Cloud Stock: Salesforce vs. Veeva Systems
Salesforce (NYSE: CRM) and Veeva Systems (NYSE: VEEV) are both growing cloud-based customer relationship management (CRM) service providers. Salesforce controlled 24% of the global CRM market at the end of 2021, according to IDC, which surpassed the combined shares of its four closest competitors. Veeva, which was founded by Salesforce's senior VP of technology Peter Gassner, dominates the niche market of life science CRM services for pharmaceutical and biotechnology companies.
Salesforce and Veeva were both popular growth stocks throughout the pandemic, since their business models were well-insulated from temporary business closures and supply chain disruptions. But over the past four months, both stocks have shed roughly 30% of their values as inflation, rising interest rates, and other macroeconomic shocks sparked a rotation from pricier growth stocks toward more conservative investments.
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Source Fool.com
