13 SaaS stocks to watch

The best SaaS stocks depend on your portfolio and investment goals—while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.

13 popular SaaS stocks to watch

We round up a selection of stocks in or related to the software-as-a-service industry, weighting the list more heavily towards popular mid- and large-cap stocks.

1. Microsoft Corporation (MSFT)
2. Salesforce-com (CRM)
3. Adobe Systems Incorporated (ADBE)
4. Shopify IncClass A Subordinate Voting Shares (SHOP)
5. Wix-Com (WIX)
6. Slack Technologies (WORK)
7. Zoom Video Communications (ZM)
8. Datadog (DDOG)
9. DocuSign (DOCU)
10. Dropbox (DBX)
11. Alphabet Inc Class A (GOOGL)
12. SQ (SQ)
13. Cloudera (CLDR)

Compare investment accounts that help you research stocks

The SaaS stocks industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering SaaS stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.

Our picks for platforms with research tools

How to invest in SaaS stocks

1. Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps in Canada.
2. Sign up for an account. Provide your personal information and sign up.
3. Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
4. Choose the stocks you want to buy. Search for the stock by name or ticker symbol like MSFT or CRM.
5. Place your order. Buy the stock. It's that simple.

Learn more about popular SaaS stocks

We round up a selection of stocks in or related to the software-as-a-service industry, weighting the list more heavily towards popular mid- and large-cap US stocks.

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1. Microsoft Corporation (MSFT)

Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services. This segment also provides LinkedIn; and dynamics business solutions, including Dynamics 365, a set of intelligent, cloud-based applications across ERP, CRM, power apps, and power automate; and on-premises ERP and CRM applications.

• Previous close price: $435.28
• Market capitalization: $2,938,355,056,640
• 1 year performance: 11.80%
• P/E ratio: 31.8501

Buy MSFT stock on Interactive Brokers

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2. Salesforce-com (CRM)

Salesforce, Inc. provides customer relationship management (CRM) technology that connects companies and customers together worldwide. The company offers Agentforce, an agentic layer of the salesforce platform; Data Cloud, a data engine; Industries AI for creating industry-specific AI agents with Agentforce ; Salesforce Starter, a suite of solution for small and medium-size business; Slack, a workplace communication and productivity platform; Tableau, an end-to-end analytics solution for range of enterprise use cases and intelligent analytics with AI models, spot trends, predict outcomes, timely recommendations, and take action from any device; and integration and analytics solutions.

• Previous close price: $275.08
• Market capitalization: $257,820,246,016
• 1 year performance: 2.28%
• P/E ratio: 42.1837

Buy CRM stock on Interactive Brokers

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3. Adobe Systems Incorporated (ADBE)

Adobe Inc. , together with its subsidiaries, operates as a technology company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising.

• Previous close price: $380.87
• Market capitalization: $159,667,306,496
• 1 year performance: -17.71%
• P/E ratio: 24.7281

Buy ADBE stock on Interactive Brokers

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4. Shopify IncClass A Subordinate Voting Shares (SHOP)

Shopify Inc. , a commerce technology company, provides tools to start, scale, market, and run a business of various sizes in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The Company offers Shopify platform that enables merchants to manage products and inventory, process orders and payments, fulfill and ship orders, build customer relationships, source products, leverage analytics, and reporting and access financing for running their business across all of their sales channels, including web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces.

• Previous close price: $99.25
• Market capitalization: $126,110,097,408
• 1 year performance: 41.38%
• P/E ratio: 62.5871

Buy SHOP stock on Interactive Brokers

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5. Wix-Com (WIX)

Wix. com Ltd. , together with its subsidiaries, operates a cloud-based web development platform for registered users and creators worldwide.

• Previous close price: $166.83
• Market capitalization: $9,348,360,192
• 1 year performance: 40.35%
• P/E ratio: 71.4596

Buy WIX stock on Interactive Brokers

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6. Slack Technologies (WORK)

Slack Technologies, Inc. operates Slack, a business technology software platform in the United States and internationally. Its platform brings together people, applications, and data, as well as sells its offering under a software-as-a-service model.

• Previous close price: $0.00
• Market capitalization: $26,519,519,232
• 1 year performance: N/A

Buy WORK stock on Interactive Brokers

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7. Zoom Video Communications (ZM)

Zoom Communications Inc. provides an Artificial Intelligence-first work platform for human connection in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, a cloud phone system; and Zoom Team Chat enables users to share messages, images, files, and content in desktop, laptop, tablet, and mobile devices.

• Previous close price: $78.23
• Market capitalization: $23,852,171,264
• 1 year performance: 26.18%
• P/E ratio: 24.3707

Buy ZM stock on Interactive Brokers

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8. Datadog (DDOG)

Datadog, Inc. operates an observability and security platform for cloud applications in the United States and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data observability, universal service monitoring, network monitoring, error tracking, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, event management and CI and LLM visibility.

• Previous close price: $105.00
• Market capitalization: $36,260,073,472
• 1 year performance: -20.12%
• P/E ratio: 198.1132

Buy DDOG stock on Interactive Brokers

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9. DocuSign (DOCU)

DocuSign, Inc. provides electronic signature solution in the United States and internationally. The company offers AI-powered intelligent agreement management (IAM) platform to optimize the agreement management process and provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce for automated agreement generation within Salesforce.

• Previous close price: $82.13
• Market capitalization: $16,631,571,456
• 1 year performance: 43.58%
• P/E ratio: 16.1673

Buy DOCU stock on Interactive Brokers

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10. Dropbox (DBX)

Dropbox, Inc. provides a content collaboration platform in the United States and internationally. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features.

• Previous close price: $28.61
• Market capitalization: $8,237,134,336
• 1 year performance: 18.47%
• P/E ratio: 20.4357

Buy DBX stock on Interactive Brokers

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11. Alphabet Inc Class A (GOOGL)

Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments.

• Previous close price: $164.03
• Market capitalization: $1,953,875,230,720
• 1 year performance: -4.61%
• P/E ratio: 17.8829

Buy GOOGL stock on Interactive Brokers

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12. SQ (SQ)

N/A. . .

• Previous close price: $89.50
• 1 year performance: 20.17%

Buy SQ stock on Interactive Brokers

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13. Cloudera (CLDR)

Cloudera, Inc. offers a suite of data analytics and management products in the United States, Europe, and Asia. The company operates through two segments, Subscription and Services.

• Previous close price: $0.00
• Market capitalization: $4,736,509,440
• 1 year performance: N/A

Buy CLDR stock on Interactive Brokers

Buy SaaS stocks from these online trading platforms

Compare special offers, low fees and a wide range of investment options among top trading platforms.

Note: The dollar amounts in the table below are in Canadian dollars.

Finder Score for stock trading platforms

To make comparing even easier we came up with the Finder Score. Trading costs, account fees and features across 10+ stock trading platforms and apps are all weighted and scaled to produce a score out of 10. The higher the score the better the platform - simple.

Read the full methodology

Related: Compare the best stock trading platforms in Canada

Bottom line

While it's possible to turn a profit investing in SaaS stocks, keep in mind that—like any investment—SaaS stocks are not immune to risk. These stocks are subject to fluctuating conditions both in the market and in the software-as-a-service industry, so carefully vet your picks before you invest. If you're new to investing or if it's been a while since you've taken a critical look at your investment accounts, compare brokers to make sure you're getting the best trading features for your needs.

Related: How to buy stocks in Canada

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.