Okta was a Casualty in the Cloud Computing Stock Slump

According to a recent Zion Market Research report, the global Identity and Access Management Market is estimated to grow 12.8% annually to reach $23.38 billion by 2025 from $10.12 billion in 2018. Okta (Nasdaq: OKTA), a leading player in the industry, recently announced its second quarter results that continued to outpace market expectations. But the recent volatility in the stock market sent the stock tumbling this week.

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Talend’s Focus on the Cloud Fails to Raise the Stock

According to a report by MarketsandMarkets, the global cloud integration market is estimated to grow 13.7% annually to $12.24 billion by the year 2022. The growth in the industry is estimated to be driven by the growing demand for tools that can integrate several heterogeneous data sources and the rise of cloud computing that is resulting in the need for effective data integration tools and practices. Open source integration software vendor Talend (Nasdaq: TLND) is a leading player in this market that continues to tap into cloud-based offerings.

Cloud Stocks: Salesforce Continues its Shopping Spree

According to Gartner, worldwide spending on customer experience and relationship management (CRM) software grew 15.6% to reach $48.2 billion in 2018. Salesforce (NYSE:CRM), which is the leader in the CRM market with 19.5% share, recently reported a strong quarter and raised its forecast following its recent acquisitions.

Cloud Stocks: Smartsheet Tapping into the Government Sector

According to Forrester and IDC, the total addressable market for collaborative applications and project/portfolio management is estimated to grow to more than $31.5 billion by 2021. Seattle-based Smartsheet (Nasdaq: SMAR) recently announced its second quarter results that continued to outpace market expectations.

Twilio Wants to Break Through in the Healthcare Sector

According to a Juniper Research report, the enterprise spend on Communications Platform as a Service (CPaaS) is set to quadruple to $6.7 billion by the year 2022. Twilio (NYSE:TWLO) is a leading player in the segment that is benefitting from the strong growth trends in the industry.

Cloud Stocks: Forescout Partners with Big Names

According to a MarketStudy Report published earlier this year, the global cyber security market is estimated to grow 12% annually to reach $300 billion by 2024. The increasing frequency of cyber attacks and the growing number of IoT devices is promoting the adoption of cyber security solutions. The research estimates that the financial losses caused due to cyber-attacks have risen by over 62% in the past few years, thus prompting organizations to adopt advanced cyber security solutions to protect their sensitive information from unsanctioned access.

Cloud Stocks: Splunk Sees Strong Cloud Momentum

Big data platform Splunk (NASDAQ: SPLK) recently reported a strong quarter. The highlights of the quarter were the strong momentum in cloud revenue and its $1.05 billion acquisition of cloud monitoring company SignalFx.

GoDaddy Fails to Impress

Global internet domain name provider GoDaddy (NYSE: GDDY) recently reported its second quarter results that failed to impress the market. It did not make matters better when it announced that its CEO Scott Wagner was stepping down.

Veeva is Cashing in on Vault Products

According to a Global Market Insights report, the global healthcare cloud computing market is estimated to grow 15.5% annually over the next few years to reach $55 billion by 2025. Pleasanton, California-based Veeva (NYSE: VEEV) recently reported its second quarter results that continued to surpass all market expectations.

VMWare’s Shopping Spree Fails to Impress the Stock Market

Virtualization infrastructure provider VMWare (NYSE:VMW) has gone on a massive shopping spree to expand its cloud portfolio. Within the last few months, VMWare has made several big acquisitions to continue to drive product and market growth. The company recently also announced its second quarter results that surpassed all market expectations, but the stock fell 9% after the result announcement.