Upwork Focuses on Enterprise

According to a recent report by Payoneer, earnings for freelancers in the US grew by 78% in 2018, making it the fastest growing freelance market in the world. The growth of freelancers is attributed to organizations wanting to employ contractual employees to avoid fixed costs and the increasing supply of professionals who treat freelancing as a lifestyle option. Freelance services platform Upwork (Nasdaq: UPWK) recently reported its results that surpassed market expectations.

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Cloud Stocks: Anaplan Sees Expanding Use Cases

According to a Tech Navio report, the global ERP market is estimated to grow 9% over the next few years to $18.91 billion by the year 2023. The growth in the industry will be driven by the increased adoption of planning solutions by the SMB segment. Cloud-based enterprise planning services provider Anaplan (NYSE:PLAN) is already witnessing this growth and features among our list of Top 20 Cloud Stocks for 2020.

Cloud Stocks: Top 20 for 2020

The year 2019 has come to an end and here we do a review of the best performing cloud stocks of 2019 and the most promising for 2020. The criteria for making this list are a strong strategy or performance in Platform-as-a-Service (PaaS), Artificial Intelligence (AI), and robust Developer Ecosystems.

Cloud Stocks: Adobe Revs up its Experience Platform

Adobe last week reported a strong fourth quarter that beat estimates. Its annual revenue crossed the milestone of $10 billion. It recently upgraded its product portfolio and its Digital Experience platform that have helped it build momentum for 2020.

Cloud Stocks: Twilio Counts on API Upgrades for Growth

Twilio (NYSE:TWLO) has had a roller coaster year so far. The stock had climbed to record highs this summer. But since then, the stock has been falling as the company fails to keep with the market’s expectations on financial performance. The recently announced fourth quarter outlook was no better, and the stock fell more than 10% post the announcement.

Veeva Builds Through Acquisitions

According to a recent Research and Markets report, the global healthcare cloud computing market is estimated to grow 17% from $23.4 billion in 2019 to $51.9 billion by 2024. Recently, Veeva (NYSE: VEEV) announced its third quarter results that continued to surpass all market expectations.

Cloud Stocks: MongoDB Eyeing China With Alibaba Partnership

According to a Market Study research report, the global cloud database market is estimated to grow from $7.63 billion this year to $19.8 billion by 2025 at an annualized growth rate of over 50%. Earlier this month, cloud database-as-a-service provider MongoDB (Nasdaq:MDB) announced its third quarter results that surpassed all market expectations.

Cloud Stocks: Okta Targets Enterprise Customers

According to a Grand View Research report, the global identity access management (IAM) market is expected to grow 13% annually over the next few years to $24.12 billion by 2025 driven by the continuing adoption of BYOD policies across organizations. Recently, Okta (Nasdaq: OKTA) announced its quarterly results that outpaced market expectations.

Avant Faces An Uphill Battle

One of the earliest AI FinTech unicorns to cross $1 billion valuation in 2015, Avant is primarily a personal lending startup that uses advanced algorithms and ML to evaluate online loan applications.

Cloud Stocks: Will Salesforce Acquire DocuSign?

According to a recent report, Salesforce.com (NYSE: CRM) was the leader in the global CRM market with 19.5% market share in 2018. Its closest rival SAP was a distant second with 8.3% market share. Analysts believe that 75% of the global spending on CRM in 2019 will be on SaaS-based products, compared with 73% last year. Earlier this week, Salesforce announced its third quarter results that surpassed market expectations. The market was not too pleased with the outlook though.