Cloud stocks look frothy, but companies are proving they can cut and grow
, two mega-cap tech companies that are also trading at or near records but have forward price-to-sales ratios of 14 and 6, respectively.
Part of the cost savings came from moving the company's Oktane conference at the end of March from a San Francisco exhibition center to the internet. Around 20,000 people registered for the virtual show, three times more than the number of people Okta had expected in person. "I don't think you're going to see Oktane go back to what it was is my guess," Kerrest said, adding that the same would probably be true for Salesforce's annual Dreamforce conference andKerrest said the company also expects to save on real estate. Okta CEO Todd McKinnon posted a video on Twitter on May 27, showing him packing up his stuff at his office and declaring that the company would be remote by default "until there's a treatment or vaccine for Covid-19.
Datadog CEO Olivier Pomel said on the company's conference call in May that less than 10% of annual recurring revenue comes from areas like hospitality, travel, airlines and entertainment.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Google shuts down cloud project, says no plan to offer cloud services in ChinaAlphabet Inc's Google said on Wednesday it has shut down its cloud project named 'Isolated Region' and added that it was not weighing options to offer its cloud platform in China.
Read more »
70% of companies storing data with cloud companies hacked or breached - Business InsiderA 'staggering' failure to adopt basic security habits led to 70% of companies storing data with Amazon, Microsoft, or other big cloud vendors getting hacked or exposing data last year, researchers say
Read more »
Google scraps cloud project in China and other 'sensitive markets': Bloomberg NewsAlphabet Inc's Google has scrapped plans to provide a major new cloud service in China and other politically sensitive countries, partly due to rising geopolitical tensions and the pandemic, Bloomberg News reported on Wednesday, citing two employees familiar with the matter.
Read more »
Oracle offers to put its new cloud technology inside customer data centersOracle Corp on Wednesday said it is now offering to put all of its cloud computing technology inside its customers' data centers for an $18 million spending commitment over three years and has signed customers in Japan and Oman.
Read more »
A president Trump or Biden doesn't matter to the stock market, just invest for the next 20 years: strategistKeep an on the very long-term when it comes to investing, says this veteran strategist.
Read more »