Many enterprise software stocks are adding to their big 2020 gains on Thursday, as investors take heart in a batch of strong earnings reports that were posted on Wednesday afternoon.
Zscaler (ZS) – Get Report is up 24.3%, Okta (OKTA) – Get Report is up 6.9%, Snowflake (SNOW) – Get Report is up 16%, Elastic (ESTC) – Get Report is up 14.2% and CrowdStrike (CRWD) – Get Report is up 15.1% after each company comfortably beat its October quarter estimates and (generally speaking) issued strong guidance. And a number of other software names appear to be catching sympathy bids.
Palantir Technologies (PLTR) – Get Report, which tumbled yesterday on a Morgan Stanley downgrade, is up 8.8%. Smartsheet (SMAR) – Get Report is up 6.8%, Datadog (DDOG) – Get Report is up 4.8%, Unity
Increasing focus on network security, cloud computing, big data and cloud storage is expected to drive the Zacks Computer – Networking industry participants’ prospects.
Further, rapid deployment of 5G networking is aiding the proliferation of Internet of Things (IoT), Advanced Driver Assistance Systems (ADAS), Augmented Reality/Virtual Reality (AR/VR) devices, and 5G smartphones, which necessitates a future of robust networking infrastructure.
This has bolstered the demand for networking products, which favors the prospects of prominent industry players including NETGEAR (NTGR), Lantronix (LTRX), Extreme Networks (EXTR) and Digi International (DGII).
Thereby, the outlook for the Zacks Computer – Networking industry appears encouraging at the moment. Nevertheless, slowdown in IT spending and broader macroeconomic weakness due to the coronavirus crisis are likely to act as dampeners.
The Zacks Computer – Networking industry comprises companies that provide networking and Internet connected products, including wireless (WiFi and LTE), Ethernet and powerline, with focus
Will These Top Software Stocks Continue To Flourish Going Into Next Week?
Top software stocks are having a great year in the stock market so far. Undeniably, the growth of the Internet of Things (IoT) is a primary driver of the industry’s success. According to the International Data Corporation (IDC), the research report estimated that the compound annual growth rate (CAGR) of IoT spending to be over 11% in the next four years. Notably, it cites software as the fastest growing technology category with a CAGR of 13.5% in the same time frame. The prominence of software in the world today is very apparent. In light of this, sharp-eyed investors are keeping a close watch on the best software stocks to buy.
To illustrate, most top corporates in the stock market today relied heavily on software this year. This is due to the forced shift to the digital front for
Are These The Best Software Stocks To Buy For Future Growth?
Software stocks have been a promising investment theme in recent years. When we have big names like Adobe (ADBE Stock Report) and Salesforce (CRM Stock Report) leading the industry, we can safely assume that we are looking at the industry of the future. These top software stocks could be an easy choice for investors who do not want to spend too much time understanding the software business.
But what if you want to learn more about the industry? You may be interested to learn what’s fuelling the growth of these top software stocks to watch. And who knows, you might be able to find something that tickles your fancy. The pandemic definitely accelerated the shift towards cloud computing as corporations geared up their spending. That played no small part in driving the revenue for these growth companies. As you
Investors focused on the Computer and Technology space have likely heard of Amkor Technology (AMKR), but is the stock performing well in comparison to the rest of its sector peers? Let’s take a closer look at the stock’s year-to-date performance to find out.
Amkor Technology is one of 615 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AMKR is currently sporting a Zacks Rank of #1 (Strong Buy).
The market has been especially volatile lately, as investors continue to process news about the presidential election, the pandemic, and the U.S. recession.
Technology stocks, in particular, have experienced some big price swings as investors consider whether or not parts of the U.S. will return to lockdowns this winter, or if Pfizer‘s vaccine candidate will be available to the general population later next year.
But despite all of the market uncertainty, there are a few software stocks that investors should consider buying now and holding onto for the longterm. We asked three Motley Fool contributors which software stocks they think investors should consider right now, and they came back with Twilio(NYSE:TWLO), DataDog(NASDAQ:DDOG), and HubSpot(NYSE:HUBS). Here’s why.
Image source: Getty Images.
Three signs this stock is a long-term winner
Brian Withers(Twilio): Twilio is getting caught up in the tech stock sell-off as investors
Chinese internet stocks are sliding as proposed regulations took aim at technology platform companies, marking the second reminder in a week of the regulatory risks facing some of the world’s biggest internet companies.
(ticker: BABA) and
(JD) were among those down as much as 6% Tuesday morning. The
KraneShares CSI China Internet
exchange-traded fund (KWEB) was down almost 4% at $72.98.
China released an “Antitrust Guideline Proposal on Marketplace Models” to seek public opinion on a draft regulation that analysts think could lead to antimonopoly measures focused on internet marketplace companies. Those stocks have been among the biggest winners so far this year.
The draft regulation added to the downward pressure tech stocks have faced in recent days. Investors are shifting toward more battered and economically sensitive companies
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Logitech International (LOGI) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.
Logitech International is a member of the Computer and Technology sector. This group includes 616 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. LOGI is currently sporting a Zacks Rank of #1 (Strong Buy).
The stock market has been surprisingly resilient this year, despite a worldwide pandemic, a U.S. recession, and a tumultuous presidential election. As of this writing, the S&P 500 has gained about 8% year to date.
But many companies, and particularly tech companies, have seen their share prices skyrocket far above the broader market’s gains this year. If you’re looking for some great technology companies that are doing well now — and will likely beat the market for years to come — a few Motley Fool contributors think you should consider buying DocuSign(NASDAQ:DOCU), Shopify(NYSE:SHOP), and Amazon(NASDAQ:AMZN). Here’s why.
Image source: Getty Images.
DocuSign has a big opportunity with its big customers
Brian Withers(DocuSign): Customers large and small have been flocking to DocuSign’s e-signature platform since the coronavirus pushed businesses to adopt remote working arrangements. From the end of its last fiscal year on Jan.
“Up until about last week, the consensus belief was a full blue sweep — now that’s changing you’re seeing a repricing taking place in the market… a more status quo Senate may ease the burden of regulations on the tech sector,” Anna