Cloud Stocks: Is Smartsheet’s Pullback a Buying Opportunity?

Seattle-based Smartsheet (Nasdaq: SMAR) recently announced its first quarter results that failed to impress the market. Its weaker than expected billings and a similarly weak outlook sent the stock tumbling in the after-hours session. The stock fell 14% after the result announcement – its biggest decline since listing. But it is a knee jerk reaction to a stock with a lot more potential.

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Cloud Stocks: Veeva Scales New Highs

Veeva was founded in 2007 to deliver industry-specific business solutions over the cloud. The COVID-19 pandemic has driven migration to its cloud-based software for pharmaceutical and biotech companies. Veeva recently reported results for a strong first quarter that beat estimates.

Has Zoom Stock Peaked?

The current Covid crisis has been particularly beneficial for online video conferencing player Zoom Video Communications (Nasdaq: ZM). With organizations, both small and big, and educational institutions globally resorting to remote working and remote learning techniques, Zoom’s revenues have grown to record highs. The market is pleased with the company and its stock has soared more than 200% since January this year.

Cloud Stocks: Salesforce Partners with Workday to Address the New Normal

Earlier this month, Salesforce (NYSE: CRM) announced its first quarter results. While the company managed to outpace market expectations for the quarter, it failed to provide an impressive outlook. The current global economic conditions have impacted the outlook of most companies. Salesforce is no exception.

Cloud Stocks: Splunk Rides High on Cloud Initiatives

Big Data player Splunk’s (NASDAQ: SPLK) cloud bets are paying off. The company recently announced its first quarter results. While the results were not entirely impressive, the market’s pleased with the company’s continued push into cloud services.

Bill.com Counts on Partnerships Amid Covid

Bill.com (NYSE:BILL) went public in December last year. In spite of the recent market turbulence and the global economic conditions, its stock has had a strong run. Since listing, the company’s stock has soared almost 220%.

Cloud Stocks: Workday Extends its PaaS Strategy

SaaS-based financial and human resources enterprise services provider Workday (NASDAQ: WDAY) recently reported results for a strong first quarter that beat estimates. It was also its first ever $1 billion revenue quarter.

Intuit Bets Big on AI

Cloud-based accounting and tax preparation software giant Intuit (NASDAQ: INTU) recently announced its third quarter earnings. The global pandemic has hurt the smaller businesses most and with the US tax deadline being extended, the company’s revenues were hurt. But it still managed to surpass market expectations.

Spotify Soars on Podcast Acquisitions

According to the Interactive Advertising Bureau, the global podcast industry is estimated to grow from $479.1 million in 2018 to over $1 billion by 2021. Online music streaming service Spotify (NYSE: SPOT) is already cashing in on this growth.

Cloud Stocks: Palo Alto Networks Continues to Acquire

The increase in work-from-home requirements of organizations has led to a surge in demand for cyber security services. Palo Alto Networks (NYSE:PANW) is witnessing the results of this growth as was evident in its recent result announcement.