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Technology Stocks
Cloud Stocks: Okta Expanding Government Sector Capabilities
According to a recent research report, the global Identity Access Management market is estimated to grow at a CAGR of 15% from $12.3 billion in 2020 to $24.1 billion by 2025.The pandemic conditions have accelerated the growth in the market as organizations look to accelerate their digital transformation and improve their work from home capabilities. Corporate identity management software company Okta (NASDAQ: OKTA) continues to benefit from this transition.
>>>DigitalOcean Expands Container and Kubernetes Capabilities
Recently listed Digital Ocean (NYSE: DOCN) announced its first quarter results since it went public. The company continues to invest in expanding its containerized and Kubernetes offerings to grow market share.
>>>Cloud Stocks: Nutanix Expands Government Vertical Offerings
According to an IDC report, the converged systems market grew a modest 0.2% over the year in the fourth quarter last year. The industry only grew 0.6% during the year. But within the market, the hyperconverged system sales grew 7.4% over the year. Dell remains the leader in the global hyperconverged systems market with a 33% market share. HPE is a distant second with 14% share, followed by Nutanix that recorded a 10% market share in the fourth quarter of the year. Recently, Nutanix (Nasdaq: NTNX), reported its third quarter results that continued to surpass market expectations.
>>>Cloud Stocks: Analysis of Palo Alto’s Bridgeview Acquisition
According to a recent market report, the global cyber security market is projected to grow from $162.5 billion in 2020 at 12.5% CAGR to reach $418.3 billion by 2028. Security player Palo Alto Networks (NYSE:PANW) continues to grow in this market through acquisitions.
>>>Cloud Stocks: Anaplan Expands Vertical Offerings
Cloud-based planning software provider Anaplan (NYSE:PLAN) recently reported its first quarter results that failed to meet the market’s expectations on earnings. The company is focusing on expanding its vertical-focused offerings.
>>>Cloud Stocks: Veeva Pushing Forth to $3 Billion by 2025
Pleasanton, California-based Veeva (NYSE: VEEV) recently reported its first full quarter results under its new status of a Public Benefit Corporation. The company continued to outpace market expectations as it delivered a quarter with one of its highest bookings ever.
>>>Cloud Stocks: Workday Gearing up for Post Pandemic IT Spend Increase
Enterprise services provider Workday (NASDAQ: WDAY) recently announced its first quarter results that continued to surpass market expectations. The company has been investing in products that make it easier for app developers to publish apps for expanding Workday’s capabilities.
>>>Cloud Stocks: Salesforce Leverages Mulesoft and Tableau Acquisitions Successfully
Salesforce (NYSE: CRM) recently announced its first quarter results that continued to surpass market expectations. It launched several upgrades recently that focused on adding data analytics capabilities for its product portfolio pushed by its Mulesoft and Tableau acquisitions.
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