So far, the New Year year hasn’t been a happy one for software as a service stocks. Our SaaS 20 Stock Index fell 3.16 percent for the week ended January 16, and the index is now down 3.92 percent since the New Year. While TheVARguy.com remains upbeat about SaaS opportunities for VARs and managed service providers, investors remain cautious.
Big-name SaaS companies like Salesforce.com (CRM, down 12.12 percent year to date) and RightNow (RNOW, down 15.14%) remain under pressure on Wall Street because investors are worried about the “cost” of acquiring and retaining new customers. Salesforce.com will spend this week demonstrating cloud solutions at Lotusphere in Orlando, and RightNow is expected to announce quarterly results on Feb. 4.
Despite continued weakness in our SaaS 20 Stock Index, there’s no doubt SaaS is catching on with managed service providers. Nearly 60 percent of MSPs currently offer hosted/SaaS email, while 18.4 percent say they offer customers some form of hosted/SaaS CRM, according to the annual MSPmentor 100 survey — produced by The VAR Guy’s sister site.
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Tags: SaaS 20 Stock Index | SaaS Stocks | Software as a Service Stocks
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