Product Upgrades Help Upwork Soar

According to a report by Peerism, freelancers could represent 80% of the global workforce by 2030 compared with the current estimated 35%-40% of the workforce. The ability to work remotely and the current economic conditions are accelerating the freelance worker requirement across industries. Organizations like Upwork (NASDAQ: UPWK) are seeing increased adoption of their services.

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Recently Listed Asana has an API Focused Strategy

According to IDC, the markets for collaborative applications and project and portfolio management are expected to grow from $23 billion in 2020 to $32 billion in 2023. Work management platform Asana recently went public via a direct listing that valued it at $5.5 billion. 

Cloud Stocks: Domo Growing Steadily

According to Gartner, the overall analytics and business intelligence software market grew by 10.4% to $24.8 billion in 2019. Modern BI platforms continue to be the fastest growing segment at 17.9%. Utah-based Domo (NASDAQ: DOMO) is a niche player in the BI market. It recently reported a strong second quarter that surpassed estimates and raised its full year guidance.

Cloud Stocks: Dropbox Adds Security Capabilities

Dropbox (Nasdaq: DBX) recently announced its second quarter results that continued to outpace market expectations. But the company recently announced the exit of its CFO Ajay Vashee who has been with the company for more than eight years. The market was not impressed by the departure and the stock fell 7% in the after-hours trading session.

Palantir Remains Focused on Government Sector

After more than fifteen years of remaining private, Palo Alto-based Palantir finally listed last week on the NYSE. Founded in 2004, Palantir has delayed its IPO several times. But even amid the current turbulent times, the company decided to list.

Cloud Stocks: Guardant Seeks to Disrupt Oncology Testing

According to a recent report, the global Precision Oncology market is estimated to grow to $99.7 billion by 2027. Precision oncology and recent advances in cancer care have been closely associated with genomic medicine. Researchers realize that knowing the genetic mutations of unique tumors will deliver the ability to improve treatments for cancer. Guardant (NASDAQ: GH) is leveraging its technology capabilities to help address this demand.

Zuora Looks at Products and Partners

According to a Markets and Markets report, the global subscription and billing management market is estimated to grow at 14% CAGR to reach $7.8 billion by 2025. San Mateo-based Zuora (NYSE: ZUO) is a leading player in the market that has been improving its subscription payment products to cater to this growth.

Blackbaud Beating Expectations, Despite Short Term Challenges

Leading cloud software company for the non-profit sector Blackbaud (Nasdaq: BLKB) recently announced its second quarter results that surpassed market expectations even amid the current conditions. The company is worried about the short-term impact of the crisis on its financials but is continuing to invest in marketing efforts and product upgrades to tackle the conditions.

Cisco Needs an Aggressive 5G Strategy

Where most technology giants are delivering a strong growth, networking player Cisco (Nasdaq: CSCO) appears to be struggling. Cisco recently announced its quarterly results that surpassed market expectations. However, a weaker outlook, on account of the global conditions, sent the stock tumbling 6% in the after-hours trading session.

Cloud Stocks: Magic Software Acquires to Expand in Europe

According to a Grand View Research report published this month, the global low code application development platform market size is expected to grow at 23% CAGR to $86.92 billion by 2027. Israel-based Magic Software Enterprises (Nasdaq: MGIC) is benefiting from this high growth forecast.