Better Cloud Stock: Salesforce vs. Veeva Systems
Salesforce (NYSE: CRM) and Veeva Systems (NYSE: VEEV) represent two very different ways to invest in the cloud-based customer relationship management (CRM) market. Salesforce is the world's top cloud-based CRM service provider, while Veeva only provides CRM services for the life sciences market. But they share a lot of DNA: Salesforce's former senior VP of technology Peter Gassner founded Veeva in 2007, and Veeva plans to run its services on Salesforce until 2025.
Over the past 10 years, Salesforce's stock rallied more than 300% as Veeva's stock surged nearly 500%. Salesforce profited from the ongoing digital transformations of large businesses, and it repeatedly expanded its ecosystem with additional cloud-based sales, marketing, analytics, data visualization, and collaboration services. Veeva didn't face any meaningful competitors in its niche market, and intense competition between its life science clients fueled its long-term growth.
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Source Fool.com
