|Bid||137.00 x 900|
|Ask||137.20 x 1000|
|Day's Range||135.51 - 139.11|
|52 Week Range||70.44 - 141.85|
|Beta (5Y Monthly)||0.95|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 04, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||141.76|
The U.S. is bracing for a potential cyber attack from Iran, but how prepared is the Trump administration for that possibility? Yahoo Finance's Kristin Myers breaks it down. Zack Guzman, Heidi Chung, along with Level Agency CEO and "The CEO's Digital Marketing Playbook" author Thomas Donohoe also join in on the conversation.
As roughly 7 million Americans gear up to fly during the holiday season, an expert is warning some charging docks at the airport could make consumers vulnerable to cyberattacks. SAP National Security Services CEO Mark Testoni joins Yahoo Finance's Kristin Myers and Emily McCormick, along with BigEyedWish Founder Ian Wishingrad, to discuss.
(Bloomberg) -- Snowflake Inc., a maker of cloud-based databases, raised $479 million in its latest funding round, boosting the company’s valuation to $12.4 billion. It also announced a strategic partnership with Salesforce.com Inc.Snowflake sells a type of database that compiles information from various sources so it can be analyzed. The company competes against Amazon.com Inc.’s Redshift product as well as those from industry stalwart Oracle Corp., which has stumbled in the cloud-computing market. Snowflake’s use among clients more than tripled in 2019, making it the fastest-growing cloud-based business software product, according to Okta Inc.’s annual Business @ Work report last month. Snowflake’s new valuation will boost it to No. 13 among global startups, according to data from CB Insights. The company previously was valued at $3.9 billion.The increased valuation came about as part of the new relationship with Salesforce, Frank Slootman, Snowflake’s chief executive officer, said Friday in an interview. “They want to invest in the company as a condition of the partnership,” he said. “They want to benefit from the upside from them being a partner.”Salesforce Ventures, the investment arm of the customer-relations software maker, and Dragoneer Investment Group, which led the fundraising, each contributed half of the round, he said.Slootman said the company recently added two new female board members, Kelly Kramer, the chief financial officer of Cisco Systems Inc., and Teresa Briggs, a former executive at Deloitte LLP. Snowflake is preparing to make the leap to the public markets by the end of 2021, Slootman said.Existing Snowflake backers, including Altimeter Capital, Iconiq Capital, Madrona Venture Group and others, are expected to participate in another investment closing “within the next few weeks,” according to Snowflake.Snowflake said its alliance with Salesforce will involve products, marketing and sales efforts. It will release further details on the relationship in June. Slootman said that Salesforce and Snowflake will make it easier to transfer data between their systems, a process he currently describes as “clunky, slow, and expensive.”In some past instances, Salesforce has eventually acquired portfolio companies. To contact the author of this story: Nico Grant in San Francisco at firstname.lastname@example.orgTo contact the editor responsible for this story: Andrew Pollack at email@example.com, Anne VanderMeyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Okta, Inc. (NASDAQ:OKTA), the leading independent provider of identity for the enterprise, today announced the hiring of Craig Weissman as Chief Architect, effective immediately. Weissman brings a proven track record of more than 20 years leading enterprise software development and cloud architecture, having played a pivotal role as Chief Technology Officer at Salesforce before co-founding cloud hospitality provider, Duetto. Weissman will join Okta’s engineering team, working alongside fellow Chief Architects Jon Todd and Karl McGuinness to further grow the most robust identity platform for enterprises.
Looking at the latest charts of OKTA, below, we can see that traders got the opportunity to go long OKTA around $120. WIth OKTA getting close to our first price target of $139 a fresh look at the charts seems like a good idea. In the daily bar chart of OKTA, below, we can see that prices have been trending higher and are above the rising 50-day moving average line as well as the rising 200-day moving average line.
Okta, Inc. (NASDAQ: OKTA), the leading independent provider of identity for the enterprise, today announced that it will release its financial results for its fourth quarter and fiscal year 2020 ended January 31, 2020 after the U.S. market close on Thursday, March 5, 2020. Okta will host a conference call that day at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss the results.
Proofpoint's (PFPT) fourth-quarter 2019 results reflect strong demand for its emerging products and expansion of its international business.
(Bloomberg) -- Snowflake Inc.’s database software has emerged in an annual report as the fastest-growing cloud-based software program, signaling strong corporate demand for modern tools to help analyze data.Snowflake’s use among clients more than tripled in 2019, software maker Okta Inc. said Tuesday in its annual Businesses @ Work report, which tracks the popularity of corporate software. Atlassian Corp.’s Opsgenie tool took the No. 2 spot as fastest-growing, with a gain of 194%. Alphabet Inc.’s Google Cloud came in third place and Splunk Inc. in fourth.The cloud applications market generated $121 billion of revenue in 2018, according to research firm IDC. The infrastructure market, where Google Cloud competes, produced $36 billion in annual revenue, the firm said.Snowflake makes cloud-based data warehouses, a type of database that compiles information from various sources so it can be analyzed. The company competes against Amazon.com Inc.’s cloud division and database stalwarts such as Oracle Corp. The San Mateo, California-based startup is considering going public, although the chief executive officer has said the the earliest the company could be ready for such a move would be this summer.Opsgenie makes incident management software that notifies workers about critical issues to reduce or avoid service downtime. Todd McKinnon, the chief executive officer of Okta, said the types of software on the list represent a departure from the traditional business applications that topped the survey in previous years, such as office communications platform Slack Technologies Inc. and videoconferencing company Zoom Video Communications Inc.“This was the first year where the fastest-growing things were infrastructure tools or security tools,” McKinnon said in an interview. “It’s a natural coming of age. We’ve put a bunch of apps in place. Now you have to make sure they’re secure, that users aren’t being phished, that you’re using the data in those apps for insights.”The most popular corporate apps overall, by unique monthly active users, are Microsoft Corp.’s Office 365, Workday Inc. and ServiceNow Inc. Google’s G Suite and Salesforce.com Inc. round out the top five.Increasingly, corporate developer teams are buying work tools independent of their IT organizations. The most popular developer software is the Atlassian Product Suite, Okta said. It was followed by Microsoft Corp.’s GitHub, PagerDuty Inc., New Relic Inc., and the newly public Datadog Inc.Okta crunches these numbers based on data from its 7,500 customers, which use the software to securely log into various tech systems. The report presents and analyzes data from Nov. 1, 2018, to Oct. 31, 2019.(Updates with additional details in eighth paragraph. An earlier version of this story corrected the full name of Snowflake Inc. in the first paragraph.)To contact the reporter on this story: Nico Grant in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew Pollack, Molly SchuetzFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Proofpoint's (PFPT) fourth-quarter 2019 results are likely to reflect strong demand for its products. However, higher capital expenditure and depreciation might have dented the margins.
Look for cybersecurity stocks with "Zero Trust" pedigrees such as Okta, CyberArk Software and Akamai Technologies to get a boost at the RSA conference, says an analyst with Morgan Stanley.
A lot of stocks had really good years in 2019. That's why the S&P 500 posted its best annual return since 2013. But, one enterprise software stock which had a particularly strong 2019 was cloud security company Okta (NASDAQ:OKTA).Source: Sundry Photography / Shutterstock.com In many ways, Okta was the stock of the year in the enterprise software world. OKTA surged nearly 80% higher last year, as the company pioneered a new method of identity-based security which companies everywhere found highly attractive. Hundreds of companies signed up for this novel security platform, called Identity Cloud. Revenues and margins stormed higher. So did OKTA stock.Now, the 2019 enterprise software stock of the year looks positioned to have a big 2020, too.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSpecifically, three big catalysts will propel OKTA stock meaningfully higher next year. First, revenue growth rates, which have been slowing throughout 2019, will stabilize in 2020. Second, profit margins, which have been improving throughout 2019, will continue to improve in 2020, and potentially even sneak into positive territory by year end. Third, Okta's valuation, which is discounted relative to the company's long-term profit growth potential, will meaningfully expand.All together then, Okta stock could be the enterprise software stock of the year again in 2020. Okta's Fundamentals Are ImprovingThe big idea behind the 2020 bull thesis in OKTA stock is that, over the course of the next 12 months, Okta's core fundamentals will meaningfully improve, laying the foundation for share price gains. * 10 2019 Winners That Will Be 2020 Losers These improvements break down into two parts -- revenue growth stabilization and continued progress toward profitability. On the first part, Okta's revenue growth rates have slowed significantly in 2019, from 50% at the start of the year to 35% exiting the year. With revenue growth rates now down near 30%, however, the laps are getting much easier for Okta, so there shouldn't be much more revenue compression in 2020, assuming the company's core tailwinds remain favorable.They should. Okta sells identity-based, cloud security solutions to enterprises across the globe. In 2019, corporate spending on such items dropped because of escalating geopolitical uncertainty. Now, that uncertainty is fading from the scene thanks to easing trade tensions. Corporate spending on things like cloud security should rebound in 2020. This rebound should help stabilize Okta's revenue growth rates.On the second part, Okta's gross profit margins have been improving all year long. But, operating losses have not been narrowing, since the company is spending an arm and a leg to grow. This robust expense growth should moderate in 2020, as Okta gets bigger, spends less on marketing and benefits more from macroeconomic tailwinds. As it does, Okta will make more meaningful progress toward profitability. Considering fourth-quarter operating loss is projected to be just $10 million, it is fairly likely that by the second half of 2020, Okta peeks its head into profitable territory.Broadly, this combination of revenue growth stabilization and strong progress towards profitability should drive OKTA stock higher in 2020. Okta Stock Is UndervaluedBy my numbers, this 2019 enterprise software stock of the year is materially undervalued at current levels.Okta is growing revenues at a 30%-plus clip. The company will sustain 20%-plus revenue growth over the next several years for a few reasons. First, the amount of data and operations pivoting into the cloud is growing exponentially, and the amount of money corporations will spend on cloud security to protect all that data and those operations will grow exponentially, too. Second, identity-based cloud security solutions will attract the lion's share of that cloud security spending, because they optimize for work-flow flexibility. Third, Okta offers the best-in-class identity-based cloud security solution out there, so it will win big as adoption of identity-based cloud security solutions rises.Meanwhile, Okta is an 80% gross margin business with a huge operating expense rate. That high gross margin will stay high because this is an enterprise software business with strong pricing power and very little cost of production. That big opex rate will drop over time because expense growth will moderate as new client growth slows, and as spending per client rises. This combination ultimately implies huge room for margin expansion in the long run.Okta reasonably projects as a 20%-plus revenue grower for a lot longer with huge margin upside potential. Looking out long term, my modeling pegs Okta's calendar 2030 earnings potential at $11 per share. Based on an application software sector average 35-times forward earnings multiple, that implies a 2029 price target for OKTA stock of $385. Discounted back by 10% per year, that equates to a calendar 2020 price target of over $160.OKTA stock presently trades hands around $117. That's well below $160. Thus, this 2019 stock of the year could turn into a 2020 stock of the year, too. Bottom Line on OKTA StockOkta stock had a big 2019, rising nearly 80%. Shares could have another big year in 2020, as favorable fundamentals converge on what has become a relatively discounted valuation.As of this writing, Luke Lango did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 2019 Winners That Will Be 2020 Losers * 5-Year Returns for 5 Dow Jones Stocks Entering 2020 * 5 Semiconductor Stocks to Buy for Big Gains In 2020 The post Okta Stock Looks Due for Another Big Year appeared first on InvestorPlace.
U.S. stocks are not slowing down as 2020 nears. All three broad market indices once again reached new highs on Thursday. The S&P 500 has gained more than 29% so far this year. The NASDAQ Composite cleared 9,000 for the first time on Thursday.Source: Shutterstock With the geopolitical situation calm and impeachment apparently stalled out, there's seemingly little resistance ahead at the moment. That's not the case, however, for Friday's big stock charts. * 7 Stocks to Buy to Get 2020 Started the Right Way In fact, resistance is the theme of these big stock charts. One of these names already has faltered and is trying to rebound. The other two are looking to re-take past highs. But the common thread is that all three of these stocks are looking for a breakout in the midst of a broad market that continues to rise.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Wynn Resorts (WYNN)Source: Provided by Finviz When we called out Wynn Resorts (NASDAQ:WYNN) in 3 Big Stock Charts at the beginning of November, the stock looked set to stall out. That turned out to be the case, as shares sputtered for several weeks. But two pieces of positive news have changed the outlook -- and the WYNN stock chart: * Wynn shares first jumped on Dec. 12, as China announced plans to make Macau a key financial center. WYNN stock gained 9.5% on that news, as investors saw the news as driving demand for Wynn properties in that Chinese enclave. Six days later, the central government delivered more good news, increasing the daily limit on remittances from the mainland, and WYNN again gapped up. * On their own, neither of those developments seem to move the needle. But they add to the sense that Chinese leaders see Macau in an increasingly positive light amid protests in Hong Kong. Central government policies have impacted gaming revenue and stocks of casino operators in the region; anti-corruption measures interrupted growth earlier this decade, and WYNN still trades 40% below early 2014 highs. * The twin jumps allowed WYNN to break out of a usually bearish descending triangle. Moving averages have been easily cleared. And volume has been relatively solid during this rally. The question now is if WYNN can trade clear of $140, which acted as resistance in July. From there, $150 is in the next key level before Wynn stock reaches an 18-month high. * Click to Enlarge Source: Provided by Finviz For market bulls, a bet on a breakout seems wise. The resolution of the trade war, assuming it holds, obviously adds to the bullish sentiment toward the stock. Valuation is reasonable. As long as the external environment holds, WYNN has a real chance to break out. The same is true for rival Las Vegas Sands (NYSE:LVS), an intriguing choice for income investors bullish on the region. Veeva Systems (VEEV)Source: Provided by Finviz Veeva Systems (NYSE:VEEV) has been left out of the market's rally for over five months now. The stock has challenged $170 on a pair of occasions, and quickly receded each time. But the second of Friday's big stock charts shows a name back at support. At these levels, VEEV stock looks interesting -- even if it admittedly still looks expensive: * $140 has held as support on multiple occasions over the past few months, which suggests potential for a bounce. There are some technical concerns, however. There's a modest descending triangle pattern underway. And VEEV stock saw a so-called "death cross" earlier this month, with the 50-day moving average falling beneath the 200-day. * Still, there's an intriguing case here. Veeva has established a dominant market position in life sciences software. Growth has been torrid for years now. And while VEEV stock is expensive at 56x forward earnings, it's not terribly so in the context of high-growth software names. On an earnings basis, VEEV trades roughly in line with Salesforce (NYSE:CRM). Still-unprofitable SaaS (software-as-a-service) names like Okta (NASDAQ:OKTA) and Datadog (NASDAQ:DDOG) trade at a premium relative to revenue. * More broadly, valuation hasn't been much of an issue in the SaaS (software-as-a-service) space. It's not entirely clear why it has been for VEEV stock in the second half of 2019. It's not as if there has been a downside catalyst: Veeva delivered another beat-and-raise quarter late last month. Historically, that had been enough for upside. It may well be again in 2020. Zynga (ZNGA)Source: Provided by Finviz Zynga (NASDAQ:ZNGA) stock touched a seven-year high this summer. But, since then, the third of our big stock charts shows clear resistance. The question is whether ZNGA finally can break through: * There's some reason to think that it can. An ascending triangle pattern usually leans bullish. The stock has cleared near-term moving averages and continues to grind higher. Resistance has been stout, but ZNGA stock looks like it's mounting a legitimate challenge. * As with VEEV, there's a relative valuation case for the stock as well. Zynga stock isn't necessarily cheap at 24x forward earnings, particularly given that analysts see flat bottom-line performance in 2020. But a large cash hoard helps the cause, and ZNGA stock certainly is cheap by tech standards. * Put another way, there simply aren't a lot of stocks that offer both value and the potential for growth. Zynga has both, given its $1.4 billion in cash targeted for acquisitions. The risk here is that the company's successful turnaround largely has run its course. Investors in this market may be willing to bet otherwise.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy to Get 2020 Started the Right Way * 10 Best ETFs for 2020: The Competition Is Stacked Full of Potential * 4 Gold Stocks to Buy as the Yellow Metal Surges The post 3 Big Stock Charts for Friday: Wynn Resorts, Veeva Systems, and Zynga appeared first on InvestorPlace.
Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]
It has definitely been a stellar year for enterprise cloud stocks. Just look at companies like Anaplan (NYSE:PLAN), Okta (NASDAQ:OKTA) and Docusign (NASDAQ:DOCU). They have all posted over 80% returns.Source: Shutterstock But the news has not been as good for old-line enterprise companies, especially those that rely heavily on on-premises solutions. One example is VMware (NYSE:VMW) stock. Consider that the return is a measly 10.6%. * 7 Safe Dividend Stocks for Investors to Buy Right Now Founded in 1998, VMware is the pioneer of virtualization for the x86 architecture, allowing for much better performance from existing machines. But with the secular trend towards the cloud, the business has come under pressure. For the most part, there has been a move away from traditional virtualization to the use of containers that hold apps, configurations and settings.InvestorPlace - Stock Market News, Stock Advice & Trading TipsInterestingly enough, the origins of this technology go to Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG), which needed to find ways to scale their cloud applications. The company's engineers developed a framework, called Kubernetes, that allows for this. About five years ago, Google open sourced this, making the technology a standard.Now while containers and Kubernetes are clear threats to VMW stock, it's important to keep in mind that the company is not sitting back. That is, there has been a big push for M&A, including about $5 billion in recent deals for Pivotal Software (NYSE:PVTL) and Carbon Black.So why these companies? Well, let's take a look: Carbon BlackCarbon Black, which is a cybersecurity company, came public in May 2018 at $19 a share. VMW agreed to buy the company for $26 per share.For the most part, this deal is about expanding the footprint. No doubt, cybersecurity is a top-of-mind priority for companies. The risks keep increasing as new technologies like cloud and mobile penetrate the enterprise. Regarding Carbon Black, its technology is targeted on endpoints, whether physical or virtual where sensitive data is located. The company has also been leveraging next-generation approaches like AI (Artificial Intelligence).With the deal, VMware will launch a new Security Business Unit. And it should represent a nice avenue for growth and cross-selling.Carbon Black has over 5,600 customers and reported a 19% increase in revenues during the latest quarter to $60.9 million. Although, the cloud revenues jumped by 68% to $22.9 million. Pivotal SoftwarePivotal Software is another recent IPO that came out in April 2018. The initial offering price was $15, which is what VMware ultimately agreed to pay for the company.Pivotal Software operates a software platform that helps with the building, deployment and operation of cloud-native and legacy applications. But the company has also been leveraging its technology with Kubernetes. Pivotal Software has launched an alpha version of its Pivotal Application Service (PAS) for this. Then there was a partnership with VMware last year for the Pivotal Container Service, which allows for scaling Kubernetes.True, the growth rate for Pivotal is not too impressive, at 17% during the latest quarter. But like Carbon Black, the cloud business is growing quickly, at 38%. Consider that Pivotal believes its market opportunity is $50 billion. Bottom Line VMW StockWhile VMware's M&A strategy is risky, it's the best way to transition to the cloud. What's more, the dealmaking will likely continue. As seen with other mature tech companies like Adobe (NASDAQ:ADBE) and Microsoft (NASDAQ:MSFT), the transformation process can result in strong gains for shareholders.Oh, and for VMW stock, the valuation is currently at fairly cheap levels, with the price-to-earnings ratio at only about 9x. So for investors looking for an interesting value play, this one fits the bill.Tom Taulli is the author of the book, Artificial Intelligence Basics: A Non-Technical Introduction. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Vaping Stocks to Get into Ahead of the Crowd * 5 Retail Stocks That Are Winning Big This Holiday Season * Make the Shift Toward Value Stocks With These 5 Picks The post VMware's M&A Strategy Looks Spot On appeared first on InvestorPlace.
From the surge in Bitcoin to the collapse of the IPO class of 2019, it was a wild year. Here's how to understand what of any of these things means anything.