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We are looking at Ping Identity (Ping) today. This stock came up earlier today in the conversation among members of our Intelligent Stock Market Investors' private community. We were discussing the work-from-home stocks, and Ping Identity came up as a "baby Okta." And, baby Okta it is ...
Shares of Ping Identity were down more than 5% on Friday. There wasn't any specific reason for such a price decline. We presume that investors took some of their COVID-19 stellar gains off the table, and the price decline is not about any changes in the Ping's growth opportunity.
The company is a 2019 IPO, with more than $2 billion in market capitalization. It enables its clients to offers secure access to any service or application to customers, employees, and partners. For example, it seamlessly integrates with Salesforce, Slack, Zoom, Zscaler, and Microsoft Office 365 apps and is available on the AWS marketplace as an add-on identity management application. The company appeals to large enterprise customers because it offers a flexible infrastructure that can be applied to cloud, on-premise, and private cloud. That's why Ping works with several Fortune 100 companies and has a high dollar-based retention rate of 116%, and 115% in December 2018 and December 2019. COVID-19 pandemic has forced several large enterprises to take the leap or accelerate their transition to digital, and that can explain the rapid growth rate of demand for Ping since the start of the work-from-home trend.
Financially, the company is not profitable; neither does it generate free cash flow. However, it has a strong balance sheet, no debt, and enough liquid assets to keep on investing and growing. Among companies facilitating the digital transformation, those who are already focusing on large enterprises with legacy and hybrid solutions are some of the fastest-growing stocks. This trend enables Ping Identity to get in front of several new large enterprises and get a foothold in its core market that can continue to pay off for Ping. Check out the company's Stock Card to get to know this watchlist-worthy stock.
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We are looking at Etsy (Ticker: ETSY) today.
Shares of Etsy were up more than 9% on Friday. The company is benefiting from the work-from-home trend as people's appetite for do-it-yourself home decoration is higher than ever. Investors are observing such a trend and are excited about the effect of the Corona economy on Etsy. According to TechCrunch, searches for wall decor or art have jumped 94% compared to the last year, and searches for paintings are up more than 54% in the previous three months. Moreover, according to the company's investor presentation, the company sold more than 12 million face masks in April, representing 17% of the overall 100% growth in the company's total revenue in Q1. Investors can't hold off their excitement and keep buying Etsy's stocks.
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We are looking at Spotify (SPOT) today.
Shares of Spotify were up more than 12% on Thursday. The music streaming platform has been betting on the future of podcasts for a while. And, it was the podcast category that drove the stock price. An exclusive deal with Warner Bros. would bring a series of narrative-style podcasts featuring superheroes such as Batman and Wonder Women. It didn't hurt either that a new podcast with Kim Kardashian's involvement was announced. The company is unprofitable and doesn't have an impressive gross margin. However, it generates free cash flow and has no debt, which means it can fund its future without worrying about money too much. Content is the savvier of streaming services. We've seen a similar strategy working for video streaming platforms. Superheroes are doing their thing and saving streaming services, once again. It sure seems that Spotify is on to something with original podcast content. It is worth watching the stock.
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Promoted
We are looking at Texas Roadhouse today.
Shares of Texas Roadhouse were down more than 3% on Wednesday, Jun 6th 2020. The restaurant chain wasn't the only stock that lost some value on Wednesday. Earlier in June, quite a lot of hedge funds started to load up on restaurant stocks to take advantage of the lower prices. It seems that investors want to lock their gain and are still not 100% sure about the future of restaurants. Therefore, short-term gain suffices for now. The company is among restaurants with a strong balance sheet. It's got no debt, and has stopped paying dividends for now. Assuming that at some point the society goes back to normal, and people woudl go out to eat, this is a stock that can go back to stable oeprations and growing revenue.
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Microsoft wins a big contract; iRobot suffers from the trade war.
Disclaimer: Hey folks, this is Shama, and I own shares of Microsoft.
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