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Top SaaS Stocks To Buy Right Now? 5 For Your Watchlist

Should investors be updating their portfolios with these top SaaS stocks?
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5 SaaS Stocks To Watch In The Stock Market Now

As the stock market continues to experience turbulence going into June, Software-as-a-Service (SaaS) stocks continue to be in focus. For the most part, the current momentum in the industry would be thanks to the immense reliance on SaaS firms. Namely, businesses across the board are increasingly relying on the SaaS industry to run their online services. While the world learns to live with the Covid-19 pandemic, companies are also leaning on SaaS companies now. Rightfully so as businesses are interacting with customers and employees online more than ever. As such, it would make sense that investors are looking for the top SaaS stocks in the stock market today.

For instance, we could look at industry heavy-hitters like The Trade Desk (NASDAQ: TTD) and Amazon (NASDAQ: AMZN). On one hand, ad-tech firms like The Trade Desk continue to serve companies relying on ad revenue today. With the emergence of new ad-supported subscriptions from Netflix (NASDAQ: NFLX) and Disney (NYSE: DIS), TTD stock could be worth noting. On the other hand, Amazon’s industry-leading cloud computing arm remains hard at work as well. Just last month, Amazon Web Services (AWS) revealed the third iteration of its Graviton processor. Through Graviton3, AWS notes that it is delivering 25% better overall performance and up to three times the machine learning workload performance. With all this in mind, could one of these SaaS stocks be your next big investment?

SaaS Stocks To Buy [Or Sell] Today

Salesforce.com Inc.

best cloud stocks to buy (CRM stock)

To begin with, we will be taking a look at Salesforce, a leading name in the customer relationship management (CRM) space. Through its SaaS and application solutions, the company serves a vast array of organizational clients. The likes of which rely on Salesforce for services relating to sales, customer service, marketing automation, analytics, and app development. Thanks to the company’s latest quarterly update, CRM stock seems to be coming into focus today.

Overall, according to the company’s financial release, its quarterly earnings per share for the quarter is $0.98. Additionally, Salesforce’s total revenue for the quarter is $7.41 billion. For reference, this is versus consensus figures of $0.94 and $7.38 billion respectively. On top of this commendable financial performance, investors could also be considering Salesforce’s key operational metrics. Among which, co-CEO Marc Benioff highlights is its remaining performance obligation (RMO) of $42 billion. Simply put, this represents Salesforce’s future revenue under contract. As Salesforce continues to power forward, would CRM stock be a top buy in your opinion?

[Read More] Best Long Term Stocks To Buy Now? 4 Semiconductor Stocks To Watch

Upstart Holdings Inc.

UPST stock

Following that, we have Upstart Holdings, an AI lending platform that partners with banks and credit unions to provide consumer loans. The company uses its AI platform to improve access to affordable credit while also reducing the risks and costs of lending to its bank partners. Its platform utilizes sophisticated machine learning models to more accurately identify risk and approve more applicants than traditional, credit-score-based models. On May 18, 2022, the company announced the Sharonview Federal Credit Union announced a partnership with Upstart.

The credit union serves more than 100,000 members in the Carolinas and nationwide. “With Sharonview’s focus on improving the financial standing of our members, we are proud to partner with Upstart to provide a better all-digital, AI-powered lending experience to benefit new members across the communities we serve,” said David Brand, Senior Vice President of Lending Operations at Sharonview. “With Upstart, we will be able to serve more credit-worthy members and provide access to capital to those who need it most.” Given this piece of news, is UPST stock worth investing in right now?

Microsoft Corporation

best tech stocks (msft stock)

Microsoft Corporation is a tech company that enables digital transformation for the era of the intelligent cloud and intelligent edge. The company’s software-as-a-service includes Microsoft Azure, and supports many different programming languages, tools, and frameworks. Microsoft Office, on the other hand, is the company’s productivity tool that is used by hundreds of millions of users and companies around the globe.

In May, the company announced new capabilities from its Microsoft Cloud for Sustainability. It will enable faster and broader transformation for organizations at varying stages of their sustainability journey. The software will allow companies to more effectively manage their environmental footprint and also embeds sustainability through their organizations and value chains. The company says that organizations will need more accessible and centralized data intelligence to make tough decisions that are required now to address complex issues. They will be able to utilize the new capabilities from Microsoft Cloud to do so. With that being said, is MSFT stock a top pick for you today?

Adobe Inc.

top software stocks to buy (ADBE stock)

Next, we have Adobe, one of the largest and most diversified software companies in the world. In essence, the company allows its users to design and deliver exceptional digital experiences through its suite of software. This would include Adobe Photoshop for photo editing and Adobe Acrobat for viewing and editing portable document formats. On April 12, 2022, the company announced that it is bringing Frame.io’s industry-leading video collaboration platform to its millions of Creative Cloud customers.

It has also released updates to its After Effects and Premiere Pro software and includes native M1 support for After Effects. With the introduction of Frame.io for Creative Cloud, video editors and key project stakeholders can collaborate seamlessly in the cloud. This is the industry’s first integrated review and approval workflow for post-production, allowing editors to get to final approval faster and easier than ever before. This comes at a time when demand for video collaboration solutions is on the rise in a digital economy. Furthermore, more content is being created than ever before and remote teamwork has become the new normal. All things considered, is ADBE stock a buy?

[Read More] Best Stocks To Invest In Right Now? 5 Value Stocks To Watch This Week

Coinbase Inc.

coinbase IPO (COIN stock)

Coinbase is a cryptocurrency company that operates a crypto trading platform. Its platform allows users to easily send and receive Bitcoin. Furthermore, it has over 95 million verified users and boasts $256 billion in assets on its platform. The company is also available in over 100 countries and is used by over 13,000 institutions worldwide. On May 10, 2022, the company reported its first-quarter financials for 2022.

Firstly, it reported a net revenue of $1.16 billion for the quarter. This comes as it has a trading volume of $309 billion with 9.2 million monthly transacting users. Despite the volatility in the crypto market, the company says that it believes that it will not be permanent. In the meantime, it continues to make good progress with the launch of its Coinbase NFT. It also has grown in the adoption of its Coinbase Wallet and the expansion of its staking offering through the addition of Cardano. With its improving fundamentals, is COIN stock worth watching right now?

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The post Top SaaS Stocks To Buy Right Now? 5 For Your Watchlist appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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Low Iron Levels In Blood Could Trigger Long COVID: Study

Low Iron Levels In Blood Could Trigger Long COVID: Study

Authored by Amie Dahnke via The Epoch Times (emphasis ours),

People with inadequate…

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3 hours ago

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March 9, 2024

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Low Iron Levels In Blood Could Trigger Long COVID: Study

Authored by Amie Dahnke via The Epoch Times (emphasis ours),

People with inadequate iron levels in their blood due to a COVID-19 infection could be at greater risk of long COVID.

(Shutterstock)

A new study indicates that problems with iron levels in the bloodstream likely trigger chronic inflammation and other conditions associated with the post-COVID phenomenon. The findings, published on March 1 in Nature Immunology, could offer new ways to treat or prevent the condition.

Long COVID Patients Have Low Iron Levels

Researchers at the University of Cambridge pinpointed low iron as a potential link to long-COVID symptoms thanks to a study they initiated shortly after the start of the pandemic. They recruited people who tested positive for the virus to provide blood samples for analysis over a year, which allowed the researchers to look for post-infection changes in the blood. The researchers looked at 214 samples and found that 45 percent of patients reported symptoms of long COVID that lasted between three and 10 months.

In analyzing the blood samples, the research team noticed that people experiencing long COVID had low iron levels, contributing to anemia and low red blood cell production, just two weeks after they were diagnosed with COVID-19. This was true for patients regardless of age, sex, or the initial severity of their infection.

According to one of the study co-authors, the removal of iron from the bloodstream is a natural process and defense mechanism of the body.

But it can jeopardize a person’s recovery.

“When the body has an infection, it responds by removing iron from the bloodstream. This protects us from potentially lethal bacteria that capture the iron in the bloodstream and grow rapidly. It’s an evolutionary response that redistributes iron in the body, and the blood plasma becomes an iron desert,” University of Oxford professor Hal Drakesmith said in a press release. “However, if this goes on for a long time, there is less iron for red blood cells, so oxygen is transported less efficiently affecting metabolism and energy production, and for white blood cells, which need iron to work properly. The protective mechanism ends up becoming a problem.”

The research team believes that consistently low iron levels could explain why individuals with long COVID continue to experience fatigue and difficulty exercising. As such, the researchers suggested iron supplementation to help regulate and prevent the often debilitating symptoms associated with long COVID.

“It isn’t necessarily the case that individuals don’t have enough iron in their body, it’s just that it’s trapped in the wrong place,” Aimee Hanson, a postdoctoral researcher at the University of Cambridge who worked on the study, said in the press release. “What we need is a way to remobilize the iron and pull it back into the bloodstream, where it becomes more useful to the red blood cells.”

The research team pointed out that iron supplementation isn’t always straightforward. Achieving the right level of iron varies from person to person. Too much iron can cause stomach issues, ranging from constipation, nausea, and abdominal pain to gastritis and gastric lesions.

1 in 5 Still Affected by Long COVID

COVID-19 has affected nearly 40 percent of Americans, with one in five of those still suffering from symptoms of long COVID, according to the U.S. Centers for Disease Control and Prevention (CDC). Long COVID is marked by health issues that continue at least four weeks after an individual was initially diagnosed with COVID-19. Symptoms can last for days, weeks, months, or years and may include fatigue, cough or chest pain, headache, brain fog, depression or anxiety, digestive issues, and joint or muscle pain.

Tyler Durden Sat, 03/09/2024 - 12:50

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February Employment Situation

By Paul Gomme and Peter Rupert The establishment data from the BLS showed a 275,000 increase in payroll employment for February, outpacing the 230,000…

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4 hours ago

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March 9, 2024

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By Paul Gomme and Peter Rupert

The establishment data from the BLS showed a 275,000 increase in payroll employment for February, outpacing the 230,000 average over the previous 12 months. The payroll data for January and December were revised down by a total of 167,000. The private sector added 223,000 new jobs, the largest gain since May of last year.

Temporary help services employment continues a steep decline after a sharp post-pandemic rise.

Average hours of work increased from 34.2 to 34.3. The increase, along with the 223,000 private employment increase led to a hefty increase in total hours of 5.6% at an annualized rate, also the largest increase since May of last year.

The establishment report, once again, beat “expectations;” the WSJ survey of economists was 198,000. Other than the downward revisions, mentioned above, another bit of negative news was a smallish increase in wage growth, from $34.52 to $34.57.

The household survey shows that the labor force increased 150,000, a drop in employment of 184,000 and an increase in the number of unemployed persons of 334,000. The labor force participation rate held steady at 62.5, the employment to population ratio decreased from 60.2 to 60.1 and the unemployment rate increased from 3.66 to 3.86. Remember that the unemployment rate is the number of unemployed relative to the labor force (the number employed plus the number unemployed). Consequently, the unemployment rate can go up if the number of unemployed rises holding fixed the labor force, or if the labor force shrinks holding the number unemployed unchanged. An increase in the unemployment rate is not necessarily a bad thing: it may reflect a strong labor market drawing “marginally attached” individuals from outside the labor force. Indeed, there was a 96,000 decline in those workers.

Earlier in the week, the BLS announced JOLTS (Job Openings and Labor Turnover Survey) data for January. There isn’t much to report here as the job openings changed little at 8.9 million, the number of hires and total separations were little changed at 5.7 million and 5.3 million, respectively.

As has been the case for the last couple of years, the number of job openings remains higher than the number of unemployed persons.

Also earlier in the week the BLS announced that productivity increased 3.2% in the 4th quarter with output rising 3.5% and hours of work rising 0.3%.

The bottom line is that the labor market continues its surprisingly (to some) strong performance, once again proving stronger than many had expected. This strength makes it difficult to justify any interest rate cuts soon, particularly given the recent inflation spike.

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Spread & Containment

Another beloved brewery files Chapter 11 bankruptcy

The beer industry has been devastated by covid, changing tastes, and maybe fallout from the Bud Light scandal.

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March 9, 2024

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Before the covid pandemic, craft beer was having a moment. Most cities had multiple breweries and taprooms with some having so many that people put together the brewery version of a pub crawl.

It was a period where beer snobbery ruled the day and it was not uncommon to hear bar patrons discuss the makeup of the beer the beer they were drinking. This boom period always seemed destined for failure, or at least a retraction as many markets seemed to have more craft breweries than they could support.

Related: Fast-food chain closes more stores after Chapter 11 bankruptcy

The pandemic, however, hastened that downfall. Many of these local and regional craft breweries counted on in-person sales to drive their business. 

And while many had local and regional distribution, selling through a third party comes with much lower margins. Direct sales drove their business and the pandemic forced many breweries to shut down their taprooms during the period where social distancing rules were in effect.

During those months the breweries still had rent and employees to pay while little money was coming in. That led to a number of popular beermakers including San Francisco's nationally-known Anchor Brewing as well as many regional favorites including Chicago’s Metropolitan Brewing, New Jersey’s Flying Fish, Denver’s Joyride Brewing, Tampa’s Zydeco Brew Werks, and Cleveland’s Terrestrial Brewing filing bankruptcy.

Some of these brands hope to survive, but others, including Anchor Brewing, fell into Chapter 7 liquidation. Now, another domino has fallen as a popular regional brewery has filed for Chapter 11 bankruptcy protection.

Overall beer sales have fallen.

Image source: Shutterstock

Covid is not the only reason for brewery bankruptcies

While covid deserves some of the blame for brewery failures, it's not the only reason why so many have filed for bankruptcy protection. Overall beer sales have fallen driven by younger people embracing non-alcoholic cocktails, and the rise in popularity of non-beer alcoholic offerings,

Beer sales have fallen to their lowest levels since 1999 and some industry analysts

"Sales declined by more than 5% in the first nine months of the year, dragged down not only by the backlash and boycotts against Anheuser-Busch-owned Bud Light but the changing habits of younger drinkers," according to data from Beer Marketer’s Insights published by the New York Post.

Bud Light parent Anheuser Busch InBev (BUD) faced massive boycotts after it partnered with transgender social media influencer Dylan Mulvaney. It was a very small partnership but it led to a right-wing backlash spurred on by Kid Rock, who posted a video on social media where he chastised the company before shooting up cases of Bud Light with an automatic weapon.

Another brewery files Chapter 11 bankruptcy

Gizmo Brew Works, which does business under the name Roth Brewing Company LLC, filed for Chapter 11 bankruptcy protection on March 8. In its filing, the company checked the box that indicates that its debts are less than $7.5 million and it chooses to proceed under Subchapter V of Chapter 11. 

"Both small business and subchapter V cases are treated differently than a traditional chapter 11 case primarily due to accelerated deadlines and the speed with which the plan is confirmed," USCourts.gov explained. 

Roth Brewing/Gizmo Brew Works shared that it has 50-99 creditors and assets $100,000 and $500,000. The filing noted that the company does expect to have funds available for unsecured creditors. 

The popular brewery operates three taprooms and sells its beer to go at those locations.

"Join us at Gizmo Brew Works Craft Brewery and Taprooms located in Raleigh, Durham, and Chapel Hill, North Carolina. Find us for entertainment, live music, food trucks, beer specials, and most importantly, great-tasting craft beer by Gizmo Brew Works," the company shared on its website.

The company estimates that it has between $1 and $10 million in liabilities (a broad range as the bankruptcy form does not provide a space to be more specific).

Gizmo Brew Works/Roth Brewing did not share a reorganization or funding plan in its bankruptcy filing. An email request for comment sent through the company's contact page was not immediately returned.

 

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