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Technology Stocks
Cloud Stocks: Toast Addresses Changing Restaurant Industry Dynamics
The US restaurant POS market was valued at $4.56 billion in 2020 and is expected to grow at 6.4% CAGR from 2021 through 2028. Analysts believe that the industry will see growth of mobile and self-service kiosk segments as companies shift to more affordable options. Boston-based Toast (NYSE: TOST) is hoping to address this demand through product enhancements and partnerships.
>>>Cloud Stocks: Smartsheet Expands its Capabilities for Marketers
The global Enterprise Collaboration Market size is expected to grow at 13% CAGR from $47.2 billion in 2021 to $85.8 billion by 2026. Smartsheet (Nasdaq: SMAR) continues to benefit from this high growth trend.
>>>Cloud Stocks: Analysis of Zoom’s Acquisition of Solvvy
According to a recent report, the global video conferencing market is estimated to grow at 11% CAGR from $6.9 billion in 2022 to $14.6 billion by 2029. Online video conferencing player Zoom Video Communications (Nasdaq: ZM) meanwhile continues to try to diversify its offerings beyond video conferencing to enter the contact center market. After a failed attempt at an acquisition last year, it recently acquired a contact center player to make its presence felt in the industry.
>>>Cloud Stocks: Adobe Strengthens its Creative Cloud Portfolio and Gets Ready for the Metaverse
Adobe (NASDAQ: ADBE) recently reported its quarterly results that continued to outpace market expectations. The company is driving growth by focusing on creative products and catering to the emerging demands of content needed for videos and the metaverse.
>>>Cloud Stocks: Okta Bounces Back Stronger Despite Security Event
Earlier this year, Okta (NASDAQ: OKTA) had reported an embarrassing security breach incident. If the market was worried about Okta struggling on account of the lapse, its recent quarterly results put all those doubts to rest. The stock market has been bumpy this year, and Okta’s stock had fallen by more than 70% since the start of the year. However, the quarterly results coupled with a strong outlook have sent its stock soaring again.
>>>Cloud Stocks: RingCentral Maintains UCaaS Leadership Through Partnerships and Innovation
Earlier last month, Unified Communication-as-a-Service (UCaaS) leader RingCentral (NYSE:RNG) announced its first quarter results that continued to surpass market expectations. RingCetnral has been building its market presence through continued partnerships with key go-to-market players. The move has helped it secure its leadership position in the North American market.
>>>E-Commerce Unicorns 2022: Getir Struggles as Valuations and Growth Rates Slow Down
According to a recently released McKinsey study, in the first nine months of 2021, nearly $5.8 billion was invested globally in the development of micro-hubs or dark convenience stores for instant grocers.
>>>E-Commerce Unicorns 2022: Olist and Merama Target $580B LatAm E-Commerce Market
According to a recent market report, Latin America’s e-commerce market is expected to grow at 29% CAGR to $580 billion by 2024. The pandemic conditions have accelerated this growth, and led to the rise of several unicorns in the region.
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