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Technology Stocks
Cloud Stocks: RingCentral Focuses on Hardware Integration
According to a recent report, the global unified communication as a service market is estimated to grow more than 23% annually through 2028. Earlier last month, RingCentral (NYSE:RNG) announced its second quarter results that continued to surpass market expectations. The company is focusing on AI capabilities and improving integration with hardware vendors to expand its market share.
>>>ZScaler Focuses on AI Capabilities for Market Growth
Global secure access service edge (SASE) market is projected to grow 26% annually to $4.1 billion by 2026 from $1.2 billion in 2021. Cloud security provider Zscaler (NASDAQ: ZS) recently reported its second quarter results that outpaced market expectations.
>>>Cloud Stocks: Veeva Believes R&D Segment Will Deliver under Economic Uncertainty
According to a recent report, the global healthcare cloud infrastructure market is estimated to grow at 16% CAGR from $48.1 billion in 2021 till 2030. The growth will be driven by the continuing trend of digitalization of healthcare, the integration of advanced AI/ML algorithms, cloud deployment of healthcare systems, and the need to control rising expenditure, inefficient facility management, and overburdened systems. Veeva (NYSE: VEEV) recently announced its quarterly results that beat analyst estimates. Affected by global economic conditions, its outlook failed to meet market expectations.
>>>Cloud Stocks: Nutanix’s Subscription Model Delivers Results
Enterprise cloud computing player Nutanix (Nasdaq: NTNX) recently announced its fiscal year results that outpaced market expectations. The company’s strong performance helped drive the stock 21% higher in the after-hours trading session.
>>>Cloud Stocks: Workday Grows Strong Despite Recession
Enterprise services provider Workday (NASDAQ: WDAY) recently announced its second quarter results that continued to surpass market expectations. While some other tech companies have struggled, Workday’s performance and outlook continued to impress the market. The stock grew 11% in the after-hours trading session.
>>>Cloud Stocks: Salesforce Targets Vertical Focused Offerings to Battle Economic Conditions
Salesforce (NYSE: CRM) recently announced its second quarter results that continued to surpass market expectations. But its weaker than expected outlook caused concern as the global recessionary conditions appear to be hitting the tech giants as well.
>>>Cloud Stocks: Okta Struggles with Auth0 Integration
Earlier this week, corporate identity management software company Okta (NASDAQ: OKTA) announced its second quarter results. While the performance outpaced market expectations, its weaker outlook failed to impress the market. The stock fell 10% in the after-hours trading session driven by the troubling outlook, and the continuing issues faced by the company in integrating its Auth0 acquisition.
>>>Cloud Stocks: Atlassian’s Ecosystem Strategy Keeps it Steady
Recently, Atlassian (NASDAQ: TEAM), a leading provider of team collaboration and productivity software, reported results for a strong fourth quarter that surpassed estimates. Its outlook also exceeded estimates.
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