Since the spread of Covid-19 began in March (forcing companies to keep employees at home), the demand for remote working tools has surged.
Not surprisingly, the Direxion Work from Home (NYSE:) Fund has appreciated about 17% since its creation in late June, and the fund closed at a record high on Tuesday.
In addition to well-known remote office solution companies, such as Zoom Video Communications (NASDAQ:), Slack Technologies (NYSE:), DocuSign (NASDAQ:), Twilio (NYSE:) and Crowdstrike (NASDAQ:) Here are three well-being technology stocks that will benefit more from this growth trend.
It’s worth watching before releasing quarterly results in the next few weeks.
1. Citrix Systems: The results will be released before the market opens on October 22.
Citrix Systems (NASDAQ:) has more than 100 million users in 400,000 organizations. Since the beginning of this year, its share price has risen by about 30% due to the containment measures caused by the Covid-19 pandemic that have stimulated demand for its medical services. software Work remotely.
The technology company has corporate headquarters in Fort Lauderdale, Florida and Santa Clara, California, and is committed to developing software Virtual private network allows users to remotely access computers and work networks through a secure connection.
The stock has risen 55% this year, closing at $144.03 on Tuesday, corresponding to a market value of nearly $18 billion.
Citrix’s second-quarter data exceeded the consensus of analysts, and the company is expected to release its third-quarter results on October 22 (Thursday) before the US market opens.
Analysts expect the company’s earnings per share from July to September to be $1.24.Revenue is expected to increase by 4% over the same period last year, reaching 752.8 million US dollars, thanks to its software Telecommuting.
Citrix is transitioning from a license-based revenue model to a more profitable subscription-based strategy; therefore, Wall Street will pay close attention to recurring annual revenue data (increased by 54% year-on-year to $949 million in the previous quarter), and software As a service, it grew 41% year-on-year to 590 million US dollars to see if the company can maintain a strong growth rate.
In addition to LPA and revenue data, market participants will also pay attention to Citrix’s prospects for the rest of the year.manufacturer software From desktop Virtually estimated, the entire fiscal year 2020 revenue in the last quarter will be between 3.18 billion U.S. dollars and 3.21 billion U.S. dollars, higher than the 2019 fiscal year of 3.01 billion U.S. dollars.
2. ServiceNow: The results will be released on October 28 after the market is closed
ServiceNow’s (NYSE:) stock performance this year far outperformed the market, rising nearly 84% in 2020, because investors are becoming more and more optimistic about stock suppliers software Contain the process of cloud-based workflow automation in the environment.
The Santa Clara, California-based company helps other companies track and manage the digital workflow of the company’s operations. It also provides cloud-based tools to automate the tasks of information technology, human resources, and customer service management departments.
The newspaper hit an all-time high of US$522.77 last night and then closed at US$518.30, which is software The company’s market value is nearly $100 billion.
At the end of July, ServiceNow’s report was higher than expected, but its forecast was disappointing. Its next balance sheet will be released on Wednesday, October 28 after the market closes.
The consensus estimate is that Enterprise software Earnings per share were US$1.03, slightly higher than US$0.99 in the same period last year. As the Covid-19 pandemic has triggered market demand for Covid-19, revenue is expected to total US$1.11 billion, an increase of 25% from US$885.8 in the same period last year. Remote workflow.
In this way, investors will pay close attention to ServiceNow’s updates to its company’s customers to understand whether ServiceNow can still successfully conclude major contracts in the current environment. The company announced in its second quarter balance sheet that it had completed 40 new-year contracts with a net value of more than $1 million, compared with 37 in the previous quarter.
3. Datadog: Results will be released on November 5th after the market is closed
Datadog (NASDAQ:) provides developers with an analysis and monitoring platform software And the Information Technology (IT) department. This year, his paper has achieved impressive results.
The New York-based company’s client names include AT&T (NYSE:), FedEx (NYSE:) and Airbnb. Taking into account the surge in demand for cloud monitoring solutions across all corporate sectors, its stock price has more than doubled in value this year.
The stock has risen 210% so far in 2020, and set a record high of $118.10 yesterday before closing at $116.87 yesterday. This brings the market value of analysts and monitoring platform experts close to $25 billion.
After the market closes on November 5 (Thursday), Datadog’s stock has been surplus and will release its forecast and financial report.
The consensus estimate is USD 0.01 per share, which may indicate that EPS achieves 100% growth every year. Revenue is expected to surge nearly 50% from the same period last year to $144.3 million, reflecting a surge in demand for cloud-based tools as the Covid-19 pandemic has forced companies to take the following actions: Speed up your scanning trends.
In addition to the number of income and bills, investors will also pay attention to the update of Datadog’s number of new customers.manufacturer software The company announced in its second quarter balance sheet that it had 12,100 customers, a year-on-year increase of 37%.
The total number of Datadog customers with recurring annual revenues of at least $100,000 jumped 71%, reaching 1,015 in the last quarter, and will also become a focus.
In addition, investors would like to know more details about Datadog’s recent announcement of a partnership with Microsoft (NASDAQ:). Through the partnership announced last month, Microsoft customers will be able to access Datadog tools on the Azure portal. We expect that this agreement will have a positive impact on Datadog’s business and increase its customer base in the next few quarters.
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