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Technology Stocks
Cloud Stocks: Adobe Leveraging Magento and Marketo to Deliver Blockbuster Performance
Adobe (Nasdaq: ADBE) is one company that has truly pivoted itself to adapt to the modern subscription economy. The transition has benefited the company significantly. Since 2015, it has reported more than 20% year-on-year revenue growth for each quarter. It is also the eighth consecutive quarter that the stock has delivered double digit growth. And with the current initiatives, it doesn’t look like the growth is slowing down.
>>>The Trade Desk Counts on International Markets
According to an eMarketer report, the global digital advertising market is estimated to grow 18% to $333.25 billion in 2019 and reach $517.5 billion by 2023. Digital advertising is expected to account for over 60% of the global advertising market by 2023. Online advertising marketplace The Trade Desk (Nasdaq: TTD) recently announced its first quarter results that outpaced market expectations, and the company shows no signs of slowing growth.
>>>Cloud Stocks: Alteryx Sees Strong Momentum
According to IDC, global revenue from big data and business analytics (BDA) solutions is expected to grow 12% to 189.1 billion in 2019. By 2022, IDC expects worldwide BDA revenue will be $274.3 billion. Irvine, Californa-based Alteryx (NYSE: AYX), which addresses the business intelligence and analytic tools, analytic data integration and spatial information analysis markets, reported another strong quarter in May that beat analyst estimates.
>>>Shopify Goes on the Defensive with Amazon
Ontario-based Shopify (NYSE:SHOP) continues to expand its B2C offerings and is now getting ready to take on Amazon. To drive revenue growth, Shopify is looking to invest heavily in the US fulfillment business – a market currently dominated by Amazon. But that is a highly capital intensive strategy to compete with a giant like Amazon.
>>>Cloud Stocks: GoDaddy is Making Strategic Acquisitions for the Next Level of Growth
The global internet domain name provider GoDaddy’s (NYSE: GDDY) recent quarterly results failed to meet market expectations. The stock hasn’t fared well since the result announcement despite the various measures taken by the company to promise growth. Meanwhile, the company continues to add smaller players to its portfolio to expand its service offerings.
>>>Cloud Stocks: Oracle Joins Hands with Microsoft to Take on Amazon
Oracle’s (NYSE: ORCL) recently announced fourth quarter results were a pleasant surprise for the stock. After two quarters of shrinking revenue, the company finally reported marginal growth in revenues. Oracle has been transitioning from a traditional licensed-based model to a subscription-based model to drive cloud computing revenues. The transition has hurt revenue growth in the recent past, but is expected to deliver results in the longer run. The market was pleased with Oracle’s results and the stock soared to a record high post result announcement.
>>>Anaplan Bets on AI, ML and Partners to Drive Growth
It has been under a year since the cloud-based enterprise planning services provider Anaplan (NYSE:PLAN) went public. The stock has almost tripled since it listed. It recently announced its first quarter results, and the stock climbed 20% post the announcement.
>>>ForeScout’s New Platform Focuses on OT Security
ForeScout (NASDAQ: FSCT), a cyber security company specializing in visibility for endpoint security, went public in October 2017. It recently reported a strong quarter and announced the release of a new platform focusing on operational technology (OT) security.
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