Cloud Stocks: Paycom Confident Under Current Conditions

While the global pandemic is definitely hurting some companies, it is also helping cloud-based companies grow significantly. One such player is Paycom (NYSE:PAYC) which is seeing an increase in demand for single database solutions. But while Paycom may be confident of its capabilities, global conditions are making investors look at the stock with some caution.

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Cloud Stocks: Adobe Shifts its Focus

Adobe (NASDAQ: ADBE) recently reported a mixed second quarter that missed revenue estimates. It had a strong quarter for its Digital Media segment but its Advertising Cloud revenue was impacted by the COVID crisis. But what’s interesting is how Adobe quickly de-emphasized the low-margin and capital-intensive parts of its business to focus on growth.

Cloud Stocks: Oracle Relies on Autonomous Offerings

Oracle (NYSE: ORCL) recently reported its fourth quarter results that failed to impress the market. With industries realigning their digital spends, Oracle is counting on its Autonomous offerings to help drive growth.

Cloud Stocks: Is Anaplan a Prospect for Oracle, SAP?

According to a recent Fortune Business Insights report, the global ERP software market is expected to grow at 8.5% CAGR to reach $71.63 billion by 2026. Cloud-based planning software provider Anaplan (NYSE:PLAN) recently reported its first quarter results that delivered mixed results despite the growth forecast.

eBay Surges on Coronavirus Lockdown

The current global lockdown conditions continue to push online sales and e-commerce trends higher. Due to the improvement in its e-commerce business, etailer eBay (NASDAQ: EBAY) recently revised its outlook for the current quarter significantly. But the company realizes that the surge may be short-lived and did not improve its fiscal year outlook.

Xactly Enhances its SPM Platform with AI

According to a Mordor Intelligence report, the global sales performance management market is expected to grow at 13% CAGR from $2.83 billion in 2019. San Jose-based Xactly has been a leading provider of cloud-based sales performance management (SPM) software. Earlier this year, it was tagged a Leader by Gartner in the 2020 Magic Quadrant for SPM for the seventh consecutive time.

Cloud Stocks: Okta Reiterates Outlook

Corporate identity management software company Okta (NASDAQ: OKTA) reported a strong first quarter recently that beat estimates. Like several cloud stocks, Okta’s stock has also benefited from the work-from-home transition following the COVID-19 pandemic outbreak.

Zscaler Goes on an Acquisition Spree

The global lockdown conditions have resulted in organizations stepping up their spending on cyber security solutions. Enterprise cloud security company Zscaler (NASDAQ: ZS) is benefiting from this trend. It recently reported its third quarter results that sent the stock soaring to record high levels. The company is also using the current economic conditions to pick up acquisitions.

Wix Cashing in on Businesses Transitioning Online

The current global lockdown conditions have spelled a boom for cloud-based and web enabled services. One such company benefiting from this growth is Israel-based Wix (Nasdaq:WIX). Wix recently announced its first quarter results that helped push the stock to 52-week high levels.

Cloud Stocks: MongoDB Soars Even in the Crisis

According to a Research and Markets report, the global Database as a Service market is estimated to grow at 16% CAGR to reach $24.8 billion by 2025 from $12 billion in 2020. The recent market turmoil would have changed these forecasts. But despite the turmoil, MongoDB (Nasdaq: MDB) continues to soar. MongoDB’s stock has climbed 53% since the start of the year.