|Bid||123.04 x 1800|
|Ask||124.00 x 1200|
|Day's range||122.20 - 130.10|
|52-week range||70.44 - 142.98|
|Beta (5Y monthly)||0.95|
|PE ratio (TTM)||N/A|
|Earnings date||04 Mar 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||141.76|
(Bloomberg) -- Dell Technologies Inc. has sold one of its cybersecurity units, RSA, to a consortium led by Symphony Technology Group, Ontario Teachers’ Pension Plan Board and AlpInvest Partners, part of the computer maker’s efforts to streamline its business.The $2.08 billion all-cash transaction is expected to close in the next six to nine months, the companies said Tuesday in a statement. Bloomberg News reported in November that Round Rock, Texas-based Dell was exploring a sale of RSA.The tech giant has sought to simplify its sprawling empire of hardware, software and security businesses that operate under the Dell Technologies banner, seeking to keep up with changing industry trends and to pay down debt. VMware Inc., the software maker majority-owned by Dell, purchased Pivotal Software Inc. after that company, partially owned by Dell, struggled on the public markets. By selling RSA, Dell is offloading an asset that has had trouble competing with more modern rivals such as Okta Inc.“This is the right long-term strategy for Dell, RSA and our collective customers and partners,” Jeff Clarke, the chief operating officer and vice chairman of Dell, said in the statement. “The transaction will further simplify our business and product portfolio.”As of November, Dell said it had repaid more than $18 billion in gross debt since its EMC Corp. acquisition, announced at $67 billion, closed three years ago and was on target to repay about $5 billion of gross debt in fiscal 2020.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 PollackFor 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.
(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.
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.
Okta's (OKTA) third-quarter fiscal 2020 results benefit from new customer additions and growing international momentum driven by increasing adoption of Identity solutions.
Okta (OKTA) delivered earnings and revenue surprises of 41.67% and 6.56%, respectively, for the quarter ended October 2019. Do the numbers hold clues to what lies ahead for the stock?
If you want to compound wealth in the stock market, you can do so by buying an index fund. But investors can boost...
Okta's (OKTA) continued investments are expected to have kept third-quarter fiscal 2020 margin under pressure despite higher adoption of Identity solutions.