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Technology Stocks
Cloud Stocks: Tableau Acquisition Signals Massive Analytics Push for Salesforce
Recent reports suggest that the global data visualization market will become a $7.8 billion industry by 2023, growing at a rate of more than 9% annually. The industry shot into the news recently when Salesforce announced the acquisition of Tableau.
>>>A Year Since IPO, Zscaler Delivers Through Acquisitions and Partnerships
Nearly a year ago, security services provider Zscaler (Nasdaq: ZS) went public. And what a year it has been. Since then, Zscaler’s valuation has grown almost five times, and a slowdown does not appear to be coming soon.
>>>Splunk Becomes a Strategic Acquisition Target for Several Major Players
Recently, Big Data player Splunk (NASDAQ: SPLK) announced its first quarter results that surpassed market expectations. Splunk is focusing on transitioning its business model to a subscription-based model, a move that is impacting quarterly cash flows. The drop in the cash flow outlook resulted in a decline in the stock’s price post result announcement.
>>>Cloud Stocks: Veeva Soars, But Dassault Acquires Medidata for $5.8 Billion
Pleasanton, California-based Veeva (NYSE: VEEV) recently reported its first quarter results that surpassed all market expectations and sent the stock soaring 15% to a record high. The market is also pleased with the company’s product upgrades and the stock is expected to continue growing in the coming quarters.
>>>VMWare Eyeing Containers
Virtualization giant VMWare (NYSE: VMW) recently announced a stellar first quarter that beat estimates. VMWare dominates the virtualization infrastructure market with a 91% share and now it is looking to bolster its containers and security capabilities.
>>>RingCentral Banks on Platform and Product Expansion to Cross $1 Billion Revenue Milestone
According to a Market research Future report, the global Cloud Communication Platform is estimated to grow 25% over the next few years to $5.7 billion driven by the increasing adoption of BYOD and remote working practices within organizations. Recently, RingCentral (NYSE:RNG), a leading player in the market announced its impressive first quarter results.
>>>Cloud Stocks: DocuSign Prepares to Beat Rival Adobe
According to a ResearchandMarkets report, the global digital signature market is estimated to grow at 37% CAGR to $5.5 billion by 2023 from $1.2 billion in 2018. Recently, DocuSign (Nasdaq: DOCU), a leading player in the segment announced its first quarter results. But while the company surpassed market expectations for the quarter, slowdown in billings and growing competition have the analysts worried. Post its result announcement, its stock slid 20% in the after-hours trading.
>>>Smartsheet Banks on Acquisitions for Growth
The global enterprise collaboration software market is estimated to grow 11% annually to $53.8 billion by 2023. Seattle-based Smartsheet (NYSE: SMAR) is already benefiting from this double-digit growth rate. Growth in revenues doesn’t appear to be translating into profits, but the market does not seem very concerned. Smartsheet continues to add capabilities through product innovation and acquisitions.
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