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Because the resurgence of COVID-19 cases due to the spread of its Delta variant is causing delays in office-reopening plans, cloud companies are expected to witness high demand for their products and services. Furthermore, amid the ongoing digital transformation of almost every industry, the need for safe and efficient cloud platforms should drive the cloud industry’s growth. The cloud computing market is expected to grow at an 18% CAGR to $303.07 billion by 2025. So, both SNOW and VEEV should benefit.
But while SNOW’s shares have gained 5.8% in price year-to-date, VEEV has surged 21.4%. In terms of their past nine months’ performance, VEEV is a clear winner with 19.5% price gains versus SNOW’s negative returns. But which of these stocks is a better pick now? Let’s find out.
