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Technology Stocks
Cloud Stocks: Analysis of Workday’s PaaS Strategy
SaaS-based enterprise services provider Workday (NASDAQ: WDAY) continues to deliver stellar results. For the recently reported quarter, the company outpaced all market expectations and its stock soared to record high levels. However, the recent market turmoil has impacted the stock.
>>>Cloud Stocks: BigCommerce Goes Big with IPO
According to eMarketer, retail e-commerce is expected to account for 21% of global retail spending in 2023 and the COVID-19 pandemic has accelerated this shift. The rapid growth in ecommerce is prompting companies to adopt ecommerce platforms like BigCommerce. Last month, BigCommerce had a spectacular debut in the public market with its stock soaring to over four times its list price on the first day of trading.
>>>Cloud Stocks: Analysis of Splunk’s PaaS Strategy
Big data player Splunk (NASDAQ: SPLK) continues to focus on its cloud bets. But the company is failing to deliver in the shorter term. It recently announced its second quarter results which failed to meet market expectations. Its outlook fell short as well, but its cloud metrics continue to impress the market.
>>>Cloud Stocks: Palo Alto Continues to Acquire
The rising remote working trend is translating to an increased need for stronger security globally. Security players like Palo Alto Networks (NYSE:PANW) are benefitting from this transition as was evident in its quarterly performance. The company continues to acquire even in the current climate.
>>>Cloud Stocks: Okta Expands Alliances to Attract Enterprises
The global work from home conditions have increased the need for IT teams to ensure higher safety and security of their digital assets. Corporate identity management software company Okta (NASDAQ: OKTA) is benefitting from this transition as was evident in its second quarter results.
>>>Cloud Stocks: Analysis of Five9’s PaaS Strategy
The current conditions are turning out to be very favorable for cloud-based contact center companies like Five9 (Nasdaq: FIVN). Organizations are investing in digital transformation to manage workforce remotely and are recognizing the critical nature of business continuity plans for their contact centers. They are accepting that cloud solutions can meet this need better than on-premises solutions. Additionally, contact center agents are no longer just support desks but are moving to the forefront of the customer experience. Traditional brick-and-mortar jobs such as retail sales are also migrating to contact center delivery models as organizations see this as an opportunity to diversify geographical presence, and to access a wider talent pool.
>>>Cloud Stocks: VMware Continues Buying Spree
Virtualization infrastructure provider VMWare (NYSE:VMW) recently announced its second quarter results that surpassed market expectations. It experienced strong momentum in its SaaS portfolio that offset the decline in its on-premise portfolio.
>>>Cloud Stocks: Intuit Continues to Acquire
Tax software provider Intuit (NASDAQ: INTU) recently announced its fourth-quarter earnings that surpassed market expectations. The company is continuing to build on its products internally and through acquisitions to drive growth.
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