Good stocks to buy now? 4 enterprise software stocks in a nutshell

You can’t deny that the software industry has exploded and continues to thrive throughout the current pandemic. In particular, enterprise software stocks are increasingly prominent in the stock market today. All in all, this is understandable given the current state of the world. As variants of the coronavirus continue to wreak havoc in parts of the world, businesses are, unsurprisingly, worried. For this reason, some of the biggest companies in the stock market expand their work from home orders. Since yesterday, Apple (NASDAQ: AAPL) is pushing back its plans to return to the office in February.

As a result, all of this could lead to a growth in demand for major enterprise software vendors. Even today, companies like Palo Alto Networks (NASDAQ: PANW) appear to be shifting into high gear. Yesterday, in its latest quarterly report, the cybersecurity company released strong numbers across the board. Notably, the company posted earnings per share of $1.64, beating estimates of $1.57. According to Palo Alto Networks, its Prima Secure Access Service Edge offerings, which protect operational networks, continue to drive growth. In the same way, Working day (NASDAQ:WDAY) released an earnings beat yesterday on its quarterly earnings call. Overall, things seem to be heating up in the enterprise software space now. If work-from-home trends persist, investors may want to note these top enterprise software stocks now.

Top Enterprise Software Stocks to Buy [Or Sell] In November 2021

Alphabet Inc.

First of all, we have Alphabet, a multinational technology company specializing in online advertising technologies, software, hardware and cloud computing. Its products are used by billions of people around the world. Its software products include its work and productivity software Google Docs and Google Sheets, email service Gmail, among others. The company also leads the development of the Android mobile operating system and its main search engine Google Search. GOOGL stock is up over 70% in the last year alone. Recently, the company announced that it would partner with neuro-linguistic programming (NLP) startup, Cohere, in a multi-year partnership.

Cohere is an early-stage startup building a natural language processing platform to make it easier for developers to build natural language processing models into apps. The partnership will see Google Cloud’s advanced artificial intelligence and machine learning infrastructure power Cohere’s platform. Through this partnership, they will enable companies of all sizes to build products and services on Cohere’s NLP models. This would ultimately make it easier and more cost effective for organizations to use AI with powerful NLP services. All things considered, is GOOGL stock worth adding to your portfolio for these reasons?

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Adobe Inc.

Adobe is one of the most diverse software companies in the world, because its products and services enable everyone to design and deliver exceptional digital experiences. Additionally, it is a category leader with Adobe Creative Cloud, Adobe Document Cloud, and Adobe Experience Cloud, giving it access to significant and expanding market opportunities. With that, ADBE stock is eyeing gains of over 40% over the past year.

Last month, the company announced that it had completed the acquisition of Frame.io, a cloud-based video collaboration platform. As a result, skyrocketing demand for video means video teams must create an ever-increasing volume of content in close collaboration with dispersed stakeholders. “With the growing importance of video, we’re proud to add Frame.io’s cloud-native workflow capabilities to Creative Cloud,“, said Scott Belsky, chief product officer and executive vice president of Creative Cloud. “We are committed to enabling collaboration beyond Adobe’s apps with the growing number of third-party apps in the creative ecosystem, including many are supported by Frame.io.” With this information, is ADBE stock worth buying?

best business software (ADBE stock)
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then, we have Amazon.co.uk, a multinational technology company offering one of the largest cloud computing services in the world, Amazon Web Services (AWS). AWS provides on-demand cloud computing platforms and APIs to individuals, businesses, and governments. Accordingly, it would help its users with computing power, database storage, content delivery a wide range of other features. In particular, it offers machine learning and serverless computing services to companies to accelerate their digitalization.

The company recently announced a partnership with International Business Machines (NYSE: IBM) to extend the reach of a set of tools oil companies use to manage different types of data. Some oil-producing countries like Saudi Arabia and Russia don’t have Amazon data centers but require companies to store their data within the country’s borders. Amazon and IBM working together would solve this problem. As a result, using IBM’s technology called OpenShift, oil companies can use the oil industry’s cloud data tools in their private data centers in their country. In light of this partnership, would you consider adding AMZN stock to your list of enterprise software stocks?

best enterprise software stocks (AMZN stock)
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MongoDB Inc.

Next, we’ll take a look at MongoDB. In short, it primarily develops and provides commercial support for its general-purpose NoSQL database of the same name. Thanks to these databases, some of the biggest names in the world of technology use distributed data stores to meet their big data needs. Also, since MongoDB’s database is one of the most widely used platforms in this space, the company is not a newcomer. For a sense of scale, MongoDB currently serves over 29,000 customers in 100 countries around the world. Even after year-to-date gains of over 60%, could MDB stocks be worth watching?

Well, for one thing, the business doesn’t seem to be slowing down anytime soon. Yesterday, the company rolled out its Atlas Data API (ADA). According to MongoDB, developers can query MongoDB from their backend in any language, eliminating the need for additional drivers. In practice, this essentially provides developers with faster access to the data they need to perform tasks. Examples of such tasks include building data-centric microservices and integrating enterprise applications with third-party services. Overall, MongoDB notes that it remains “hyper-focused on accelerating and simplifying how developers leverage their application data.” After considering all of this, would MDB stocks be a good buy for you?

MDB Action
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.