Social media stocks have had a rough time this year amid rising concerns surrounding fake news. More recently, the stocks were in question as the President accused internet and social media firms of political bias and censorship. Despite the issues, Twitter’s (NYSE: TWTR) stock has managed to deliver a turnaround this year. But the battle is far from over as its management continues to grapple with the problems of uncontrollable fake news.
Cloud-based life sciences solution provider Veeva (NYSE: VEEV) recently announced its second quarter results that outpaced market expectations. The company’s robust performance has helped its stock nearly double since the start of the year.
Cloud computing software vendor Twilio (NYSE:TWLO) has been on a roll. It continues to deliver financial results that outpace all market expectations, driving its stock higher. The stock has witnessed a 220% growth rally during the year.
Early this month, cloud-based security and compliance solutions provider Qualys reported results for its second quarter that beat estimates. It also raised its outlook for the year. >>>
According to a recent MarketandMarkets report, the global advanced data visualization products market is estimated to grow 11% annually to become a $3.2 billion industry by 2021. This is among the conservative estimates for the industry. Another report expects the market to grow 22% annually to $7.7 billion by 2023 from $1.9 billion in 2016. Recently, Tableau (NYSE: DATA), a leading player in the industry, reported stellar results.
According to a MarketsandMarkets report, the global Enterprise Asset Management (EAM) software market is expected to grow 12% annually over the next few years to become a $6.05 billion industry by 2022 from $3.44 billion in 2017. A leading player in the EAM market is Aspen Technology (Nasdaq: AZPN), which recently hit an all-time high.
Open source integration software vendor Talend (Nasdaq: TLND) had a strong IPO in 2016 inspite of a tough market. It attained the Billion Dollar Unicorn status after going public and continues its good run.
According to a Pew Market research conducted a few years ago, more than 75% of parents in the US reached out to social media networks for parenting related issues. It is not just the US, but parents of other nations also rely significantly on the Internet as a source of information. Recently, China-based Billion Dollar Unicorn Babytree announced plans to list on the Hong Kong Stock Exchange.