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Technology Stocks
Cloud Stocks: Paylocity Delivers Solid Results
According to a Research and Markets report, the global Human Capital Management (HCM) market is estimated to grow 10% annually over the next few years to $26.5 billion industry by 2024 from $16.7 billion in 2019. The growth in the industry is expected to be driven by the continued adoption of cloud-based solutions such as those offered by Paylocity (Nasdaq: PCTY).
>>>Cloud Stocks: Smartsheet Looking up to Enterprise Customers for Growth
Earlier this week, Seattle-based Smartsheet (Nasdaq: SMAR) announced its fourth quarter results that surpassed market expectations. Despite the recent turmoil in the stock market, the results helped the stock climb 1% in the after-hours trading session.
>>>Cloud Stocks: DocuSign Resilient to COVID-19
According to a Fortune Business Insights report, the global digital signature market is estimated to grow to $6.1 billion by the end of 2026 from $879.6 million in 2018. DocuSign (Nasdaq: DOCU), a leading player in the market, recently announced its quarterly results that beat estimates.
>>>Cloud Stocks: Xero Focuses on a PaaS Strategy
According to a Market Study report published last year, the global cloud-based accounting software market is estimated to grow at 9% CAGR to reach $4.32 billion by 2024 from $2.63 billion in 2019. New Zealand-based Xero (ASX:XRO) is tapping into this market by focusing on a PaaS strategy.
>>>Cloud Stocks: Oracle Sees Growth Momentum
Oracle (NYSE: ORCL) recently reported its third quarter results that beat analyst estimates and displayed its strongest revenue growth in nearly two years. Even amid the coronavirus impact, its stock surged post the results.
>>>Paycom’s Mobile Initiatives Drive Growth
According to a BlueWeaveConsulting report, the global payroll and HR solutions and services market is expected to grow at 9.5% CAGR to $43 billion by 2026 driven by the continued adoption of cloud-based technologies in enterprises. Paycom (NYSE:PAYC) recently announced its fourth quarter results that surpassed market expectations.
>>>Square Cashes in on Cash App
Square’s (NYSE: SQ) CEO Jack Dorsey is having a tough time these days. A recent activist shareholder action had investors questioning his dual role as the CEO of Twitter and Square. For now, the management appears to have brokered peace.
>>>Cloud Stocks: Okta Benefiting from App Diversity
According to a recent Fortune Business Insights report, the global identity and access management (IAM) market is estimated to grow from $9.5 million in 2018 to $24.8 billion by the year 2026. Recently, Okta (Nasdaq: OKTA) announced its fourth quarter performance that surpassed market expectations.
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