The cloud computing industry is expected to grow substantially in the coming months, driven primarily by continued adoption of hybrid working models. Two major players in this industry—Workday (NASDAQ:WDAY) and BOX (BOX)—are expected to benefit from the industry’s growth. But which of these two stocks is a better buy now? Let’s find out.Workday, Inc. (WDAY) and Box, Inc. (BOX) are two established players in the new-age cloud space. WDAY provides enterprise cloud applications worldwide and caters to industries such as financial services and technology. BOX provides a cloud-based content management platform that enables organizations to manage their content easily and securely from anywhere on any device.
The cloud computing industry is expected to reach new heights soon driven by the commercialization of 5G and increased adoption of hybrid working models by organizations. Because major industries are investing heavily in developing digital infrastructure, the demand for cloud computing is expected to increase in the coming months. According to dinCloud, the cloud computing market is expected to grow at a 17.9% CAGR over the next four years. Consequently, WDAY and BOX could see increasing demand for their product and services.
While WDAY has gained 43.6% over the past year, BOX has returned 35.6%. However, in terms of past nine months’ performance, BOX is a clear winner with 29.8% returns versus WDAY’s 18.2%. But which of these two stocks is a better pick now? Let's find out.