5 home actions to watch for the future of remote working |
Do you have these home tech stocks on your December 2021 watchlist?
With the resurgence of Covid-19 in many countries around the world, tech stocks could again spark investor interest. It comes as Austria begins its fourth national lockdown and the Netherlands reinstates a partial lockdown. That said, the Biden administration reiterated that it has no plans to impose another nationwide lockdown in the event of a devastating new wave of Covid-19. In light of all of this, it’s safe to say that tech companies that offer work-from-home (WFH) and remote capabilities to organizations around the world would continue to thrive despite the ongoing pandemic.
For example, owning shares of Focus on video communications during the onset of the pandemic has been rewarding for many investors. Company activity has skyrocketed as companies rushed to allow employees to work from home. It is undeniable that companies around the world are investing more and more in infrastructures that would allow remote or hybrid work. Just last week HP (NYSE: HPQ) reported better-than-expected fourth quarter results. The good results are due to the strength of the company’s commercial PC activity. This shows that businesses continue to grow despite the pandemic. With all of that in mind, could the following tech stocks find their way into your portfolio in the stock market today?
The best tech stocks to watch right now
Focus on video communications
Zoom does not need to be introduced, as his name is often synonymous with virtual meetings and dating during the pandemic. The communications technology company allows virtual calling and conferencing to take place on its cloud-based peer-to-peer software platform. From team meetings to virtual outings with friends, the company’s easy-to-use platform has been a choice for many.
Despite better-than-expected earnings released earlier this week, Zoom stock fell more than 14% on Tuesday. For the quarter, the company’s revenue increased 35% year-over-year to $ 1.05 billion. It also predicts its annual revenue to be between $ 4.079 billion and $ 4.081 billion, up 54% year-over-year.
There is no doubt that slowing growth and increasing pressure on profitability have troubled both analysts and investors. However, some believe that such a decline is overstated. If you share this sentiment, would you buy ZM shares if the stock market falls today?
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It is safe to say that the digital signature company DocuSign is here to stay as remote working becomes a norm for many organizations. DocuSign enables businesses and individuals to sign and manage contracts and agreements digitally as part of its DocuSign Agreement Cloud.
Its product line under the DocuSign Agreement Cloud also includes DocuSign Insight which uses artificial intelligence (AI) to identify risks and opportunities within an agreement.
DocuSign reported revenue of $ 511.8 million for its fiscal second quarter, a 50% year-over-year increase. Its chief financial officer, Cynthia Gaylor, said the company will continue to invest in additional sales capacity. With DocuSign’s current momentum, would you include DOCU stock on your watchlist ahead of its third quarter results on December 2?
Cloud-based software company Salesforce.com focuses on providing customer relationship management (CRM) service to its users. Its platform allows a company’s marketing, sales, sales, service and IT teams to work on a single platform and also connect with its customers. The company acquired Slack, a business communication platform popular with remote work companies earlier this year. He has since integrated his CRM products with Slack, creating a holistic service.
Last month, the company entered into a partnership with Rocket Mortgage, the largest mortgage lender in the United States and part of Rocket companies (NYSE: RKT). Rocket Companies vice president and CEO Jay Farner said the partnership will enable Rocket Mortgage to deliver an end-to-end âmortgage as a serviceâ solution through the Salesforce Financial Services Cloud platform.
In its fiscal second quarter, Salesforce reported a 23% year-over-year increase in revenue to $ 6.34 billion. CEO Marc Benioff said the Delta variant of Covid-19 had failed to make a dent in its business. It is safe to say that with cloud platforms, an increase in remote working can only accelerate the growth of platforms. With that in mind, would you look at the CRM stock ahead of its third quarter results on November 30?
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Virtual is the word of the day when it comes to experiencing a global pandemic, which Twilio on the list. For starters, Twilio provides a cloud communication platform that uses application programming interfaces (APIs) that act as intermediaries to allow two entities to communicate with each other. The company has grown steadily since its creation in 2008. It now lists, among other things, the colocation platform Airbnb (NASDAQ: ABNB), virtual marketplace eBay (NASDAQ: EBAY) and online call platform Lyft (NASDAQ: LYFT) as its customers.
The company announced its latest product, Twilio Engage, late last month. For those unfamiliar with it, Engage is a marketing automation platform that combines features like data integration, analytics, and messaging so marketers can deliver more personalized digital campaigns. . This latest introduction is another step towards investing more in the customer engagement platform strategy.
In its recently announced third quarter results, Twilio reported revenue of $ 740.2 million, up 65% year-on-year. Its number of active customers increased by 20% to over 250,000 from 208,000 last year. As Twilio continues to develop its cloud communications products, the TWLO share is worth watching.
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Teladoc Health is a pioneer in the telemedicine and virtual healthcare industry. The company’s products focus on holistic virtual medical care, which includes physical and mental health services. The company recently launched its primary care offering, Primary360, to its users.
For the uninitiated, Primary360 allows its users to choose a primary care provider and work with a care team. Despite the company’s leadership position in telehealth, its stock performance has been disappointing this week. This could be due to a series of drops in analysts’ price targets.
Last week, Canaccord Genuity analyst Richard Close lowered his target price for the TDOC share to $ 160 per share, from $ 188 previously. Nonetheless, Close is sticking to its âBuyâ rating on the telehealth company. Teladoc reported revenue of $ 522 million for its third quarter results, up 81% year-on-year. For the quarter, the virtual healthcare company recorded a 37% year-over-year jump in virtual visits to 3.9 million visits. Endless in view of the Covid-19 pandemic, would the recent weakness of the TDOC stock be an opportunity to recover the technological stock at a discount?