Performance of SaaS Companies during COVID

Highlights:

Following companies has a huge advantage — you can actually see every company’ performance by tracking its stocks.

As the above table depicts, a few companies like Shopify, RingCentral, Twilio and Docusign have had tremendous growth in the past 6 months. Why — because in one way or another they enable people with ease of access to either office or ecommerce. Let’s look at the highlights of each company’s performance.

Salesforce CRM:

ServiceNow NOW:

Square SQ:

Atlassian TEAM:

Shopify SHOP:

LogMeIn LOGM:

Easily recognizable as the parent company of GoTo suite of products, LogMeIn offers a suite of remote access and connectivity prouducts. But, with bulky user accounts and application download requirement, companies prefer going to Teams or meet by Microsoft and Google as they come with the business suite and easy to use.

RingCentral RNG and Twilio TWLO:

Offering cloud telephony and other similar solutions, both RingCentral and Twilio have seen a sharp rise in the stock value as most teams have gone remote and connectivity tools have become essential for business continuity.

DocuSign DOCU:

Eliminating the need for physical signatures, DocuSign has not disappointed ever since it went public two years ago. Adding to it, the work from home and need to keep business running has fueled DocuSign’s growth and increase in stock value.

Okta OKTA:

Slack WORK:

Zoom ZM:

Also coming under the category of software that enable remote work, Zoom has been on a roll. While most of us did not have any idea what Zoom was, it is not possible to not know Zoom now. From consulting with your doctor to kindergarten classes, it is being used everywhere.

In conclusion, companies providing tools that support work from home have grown tremendously. On the other hand, bigger companies like Zendesk have shown only a decent amount of growth which we think is because companies are working remote, it has become harder to implement newer tools in the system. A more obvious reason is the cost — companies are trying to cut down on costs as there is a huge dip in sales.

This was our analysis on 25 SaaS companies. If you have any comments or suggestions, feel free to drop it on chameli@saas-insider.com.

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