First Trust Cloud Computing ETF (NASDAQ: SKYY)

Dernières nouvelles pour First Trust Cloud Computing ETF (NASDAQ:SKYY)

First Trust Cloud Computing ETF

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Ton achieve fund's objective the fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Index is developed, maintained and sponsored by Nasdaq, Inc. (the Index Provider). The Index Provider may, from time to time, exercise reasonable discretion as it deems appropriate in order to maintain Index integrity.

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B of A Securities analyst Wamsi Mohan revised full-year estimates for Pure Storage, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>) ahead of its <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">earnings release on May 28</a>.
The analyst forecasts first quarter fiscal 2026 revenue and EPS at $772 million and 26 cents, respectively, slightly ahead of Street expectations of $770 million and 25 cents.
The analyst highlighted that the first quarter is typically the company&#8217;s weakest from a seasonal perspective. Historically, since 2016, the first quarter has shown an average sequential revenue decline of 16%.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45626048/why-marvells-ai-revenue-could-top-4-billion-by-2025-analyst-explains" rel="noreferrer noopener">Why Marvell&#8217;s AI Revenue Could Top $4 Billion By 2025, Analyst Explains</a>
Mohan sees a more moderate 12% quarter/quarter (Q/Q) decline, slightly above typical seasonality, reflecting continued momentum from FlashBlade/E adoption.
Despite the continued adoption of FlashBlade/E, which is expected to negatively impact product margins in the first fiscal quarter, the analyst forecasts an operating margin of 10.7%.
This is higher than both the Street&#8217;s estimate of 10.6% and the company&#8217;s guidance of 10.4%. The analyst noted that the primary driver for this stronger-than-expected operating margin is robust subscription margins.
Also, the analyst estimates the second quarter revenue to be $835 million, slightly below the Street estimate of $839 million.
The analyst expects the recent weakness in NAND pricing to support margin expansion in the second and third quarters. PSTG typically prebuys raw NAND during weakness in NAND pricing, and the analyst expects some offset to margins from this.
The analyst anticipates PSTG to reiterate its full-year operating margin guidance of 17%.
Mohan expects an enterprise IT spending pause in the second and third quarters of 2025 due to macro uncertainty, broadly impacting IT hardware but especially storage (due to deferrable purchases). Increased competition from Dell Technologies Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) new products and aggressive pricing is also expected to limit the upside in the storage industry.
Apart from this, Mohan revised EPS for FY27 to $2.07 (from $2.06) and FY28 to $2.46 (from $2.49 earlier).
The analyst states the upside risks to the price forecast include a faster commercial segment recovery, lower flash costs, quicker supply chain recovery, and unexpected market share gains.
The downside risks are an extended economic slowdown, rising costs, intense competition from established vendors (NetApp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ntap#NASDAQ">NTAP</a>), Dell-EMC, Hewlett Packard Enterprise (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>)) and private companies, enterprise migration to the public cloud, execution challenges from high growth, and potential erosion of its software competitive advantage.
The analyst maintained a Neutral rating with a price forecast of $73 as product growth has yet to re-accelerate, hyperscaler deals remain a future catalyst, and competitive pressure from HDD and ongoing <a target="_blank" href="https://www.benzinga.com/quote/PSTG/analyst-ratings" rel="noreferrer noopener">investments present margin risk</a>.
Investors can gain exposure to the stock via&nbsp;First Trust Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYY#NASDAQ">SKYY</a>) and&nbsp;Collaborative Investment Series Trust Mohr Company Nav ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CNAV#BATS">CNAV</a>).
Price Action: PSTG shares are trading lower by 0.08% to $55.40 at last check Tuesday.
Read Next:
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</ul>

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SKYY

Pure Storage Margin To Expand From NAND Pricing Weakness: Analyst

Nutanix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) shares are trading higher premarket on Thursday after the company reported second-<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">quarter results on Wednesday</a>.
Revenue rose 16% year over year to $654.7 million, beating the consensus <a target="_blank" href="https://ir.nutanix.com/news-releases/news-release-details/nutanix-reports-second-quarter-fiscal-2025-financial-results" rel="noreferrer noopener">of </a>$641.9 million, with annual recurring revenue growing 19% Y/Y.
Adjusted gross margin expanded 100 bps Y/Y to 88.3%. Adjusted operating income rose to $161.3 million from $123.9 million a year ago quarter, with the margin expanding 270 bps Y/Y to 24.6%.
Adjusted EPS&nbsp;of 56&nbsp;cents <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">exceeded the consensus of 47 cents.</a>
Operating cash flow stood at $221.7 million and free cash flow came in at $187.1 million.
Rajiv Ramaswami, President and CEO of Nutanix, said &#8220;Our results are benefiting from the strength of the Nutanix Cloud Platform, demand from businesses looking for a trusted long-term partner committed to innovation and customer care, and go-to-market leverage from our partnerships and programs.&#8221;
Outlook: Nutanix sees third-quarter revenue of $620 million-$630 million vs. consensus of $594.385 million and adjusted <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">operating margin of 17% to 18%</a>.
For FY25, the company expects revenue of $2.495 billion &#8211; $2.515 billion versus the prior outlook of $2.435&nbsp;billion &#8211;&nbsp;$2.465 billion and the estimate of $2.461 billion.
The company expects adjusted operating margin of 17.5% to 18.5% (prior view 16%&nbsp;to&nbsp;17%) and free cash flow of $650 million &#8211; $700 million (Previous view $560&nbsp;million &#8211;&nbsp;$610 million).
Investors can gain exposure to the stock via ProShares Big Data Refiners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAT#NYSE">DAT</a>) and First Trust Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYY#NASDAQ">SKYY</a>).
Price Action: NTNX shares are up 14.6% at $79.46 premarket at the last check Thursday.
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</ul>
Photo by Blackboard on Shutterstock.

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NTNX

Nutanix Q2 Revenue Rises 16%, Margins Expand As Cloud Business Gains Momentum

Pure Storage, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>) shares are trading higher on Monday. The company disclosed the expansion of its AI solutions with <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42031626/pure-storage-introduces-new-genai-pod-to-accelerate-ai-innovation" rel="noreferrer noopener">the launch of the GenAI Pod</a>.
GenAI Pod is a full-stack, turnkey solution designed to accelerate AI innovation while reducing deployment time, cost, and technical complexity.
Additionally, Pure Storage&#8217;s FlashBlade//S500 has been certified with NVIDIA DGX SuperPOD, enhancing enterprise AI deployments with Ethernet compatibility.
The Pure Storage GenAI Pod offers validated designs for turnkey GenAI use cases, enabling one-click deployments and streamlined Day 2 operations for vector databases and foundation models.
The initial applications for these validated designs include drug discovery, trade research, investment analysis, and RAG frameworks for semantic search, knowledge management, and chatbots.
Pure Storage&#8217;s full-stack solution integrates hardware, software, foundational models, and professional services from top AI vendors. Partners for the initial validated designs include Arista, Cisco, KX, Meta, NVIDIA, Red Hat, SuperMicro, and WWT.
The GenAI Pod is slated for general availability in the first half of 2025.
Dan Kogan, VP, Enterprise Growth and Solutions, Pure Storage said, &#8220;The pace of innovation is compelling enterprise customers to leverage AI across their business, but customers are held back by the fundamental challenge of siloed data platforms and complex-to-deploy GenAI pipelines.&#8221;
&#8221;Pure&#8217;s expanded portfolio of AI solutions with turnkey, validated designs for GenAI and large enterprise AI clusters help customers navigate these challenges. The validated designs dramatically reduce the time to value and operational risks of AI projects by holistically addressing the needs at every layer of the technology stack.&#8221;&nbsp;
Investors can gain exposure to the stock via&nbsp;First Trust Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYY#NASDAQ">SKYY</a>) and&nbsp;iShares Future Cloud 5G and Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDAT#NYSE">IDAT</a>).
Price Action: PSTG shares are up 2.31% at $49.31 at the last check Monday.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41950254/pure-storage-positioned-for-ai-driven-growth-analyst-sees-12-revenue-surge-ahead" target="_blank" rel="noreferrer noopener">Pure Storage Positioned For AI-Driven Growth: Analyst Sees 12% Revenue Surge Ahead</a></li>
</ul>

IDAT

Pure Storage Expands AI Arsenal: GenAI Pod And NVIDIA Certification Promise Faster, Smarter Deployments

Pure Storage, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>) shares are trading lower on Wednesday. Oppenheimer analyst Param Singh initiated coverage on the company with an Outperform rating <a target="_blank" href="https://www.benzinga.com/quote/PSTG/analyst-ratings" rel="noreferrer noopener">and a price target of $70</a>.
The analyst&#8217;s bullish stance is due to the company&#8217;s position as a key beneficiary of the growing demand for unstructured data used in AI applications.
Singh says that the data storage market is shifting towards all-flash arrays (AFA), expected to grow at an 8.5% CAGR from 2023 to 2028, reaching $17 billion.
Pure Storage is well-positioned to benefit from this trend, leveraging its software advantage in writing data directly to flash memory, adds the analyst.
Singh further says that the leadership in storage-as-a-service (STaaS) offerings aligns with the industry&#8217;s shift toward as-a-service platforms.
These factors should drive strong customer growth, increased expansion activity, and continued improvement in operating margins, writes the analyst.
Overall, the analyst projects the company&#8217;s revenue to grow at a 12.2% CAGR from FY24 (ending in January) through FY27, significantly outpacing the total addressable market (TAM) growth.
Today, Pure Storage disclosed that it has made a strategic investment in CoreWeave, the AI Hyperscaler, to <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41947265/pure-storage-announces-strategic-investment-and-technology-partnership-with-coreweave-to-accelerat" rel="noreferrer noopener">boost innovation in AI cloud services</a>.
As part of the partnership, customers will be able to utilize the Pure Storage platform within CoreWeave Cloud, further advancing AI capabilities in the cloud.
The company will release the third quarter of FY25<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41918835/pure-storage-announces-date-and-conference-call-information-for-third-quarter-fiscal-2025-financia" rel="noreferrer noopener"> results on December 3</a>.
Investors can gain exposure to the stock via First Trust Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYY#NASDAQ">SKYY</a>) and iShares Future Cloud 5G and Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDAT#NYSE">IDAT</a>).
Price Action: PSTG shares are down 0.84% at $49.73 at the last check Wednesday.
Photo by Ground Picture on Shutterstock
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<li><a href="https://www.benzinga.com//node/41944479" target="_blank" rel="noreferrer noopener">Kyndryl, Dell, Nvidia Join Forces To Launch AI Private Cloud For Japanese Enterprises</a></li>
</ul>

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Pure Storage Positioned For AI-Driven Growth: Analyst Sees 12% Revenue Surge Ahead

Lumen Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) shares are trading higher on Monday after the company announced it is partnering with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to significantly increase Meta&#8217;s network capacity and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41426506/lumen-and-meta-partner-to-drive-ai-network-expansion" rel="noreferrer noopener">help drive its AI ambitions</a>.
Lumen&#8217;s partnership offers Meta enhanced flexibility with secure, on-demand bandwidth, supporting its complex computing requirements and enabling it to serve billions daily.
Ashley Haynes-Gaspar, Lumen&#8217;s EVP and chief revenue officer, said, &#8220;We&#8217;ve transformed our company to meet this demand. As Meta&#8217;s customers use more AI services across its platforms, we&#8217;re helping provide Meta with a seamless, effortless, and flexible network that will meet its growing needs.&#8221;&nbsp;
Lumen Technologies&nbsp;said its Private Connectivity Fabric&nbsp;enables long-term network capacity for Meta&#8217;s AI.
Alex-Handrah Aimé, director of Meta&#8217;s Network Investments stated, &#8220;Our AI tools are performing increasingly more complex tasks including enabling conversations in a variety of languages and translating text to images in real time, while helping people interact with the world around them in new, immersive ways.&#8221;
Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41200026/chinese-hackers-breach-at-t-verizon-networks-in-major-wiretap-data-theft-putting-us-national-securit" rel="noreferrer noopener">Chinese Hackers Breach AT&amp;T, Verizon Networks In Major Wiretap Data Theft Putting US National Security At Risk: Report</a>
Lumen will report third quarter 2024 results <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">on&nbsp;November 5, 2024</a>.
Investors can gain exposure to the stock via&nbsp;Invesco S&amp;P SmallCap Utilities &amp; Communication Services ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSCU#NASDAQ">PSCU</a>) and First Trust Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYY#NASDAQ">SKYY</a>).
Price Action: LUMN shares are up 9.50% at $7.38 at the last check Monday.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/government/24/10/41299017/lawmakers-demand-answers-from-at-t-verizon-and-lumen-over-chinese-hack" target="_blank" rel="noreferrer noopener">Lawmakers Demand Answers From AT&amp;T, Verizon, And Lumen Over Chinese Hack</a></li>
</ul>

LUMN

PSCU

Lumen And Meta Join Forces To Boost AI With Flexible, On-Demand Network Solutions

Designed to provide broad exposure to the Technology - Cloud Computing segment of the equity market, the WisdomTree Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wcld#NASDAQ">WCLD</a>) is a passively managed exchange traded fund launched on 09/06/2019.
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.
Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Technology - Cloud Computing is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 8, placing it in top 50%.
<h2>Index Details</h2>
The fund is sponsored by Wisdomtree. It has amassed assets over $399.90 million, making it one of the average sized ETFs attempting to match the performance of the Technology - Cloud Computing segment of the equity market. WCLD seeks to match the performance of the BVP NASDAQ EMERGING CLOUD INDEX before fees and expenses.
The BVP Nasdaq Emerging Cloud Index is an equally weighted Index, designed to measure the performance of emerging public companies focused on delivering cloud-based software to customers.
<h2>Costs</h2>
Investors should also pay attention to an ETF&#39;s expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
Annual operating expenses for this ETF are 0.45%, making it on par with most peer products in the space.
<h2>Sector Exposure and Top Holdings</h2>
It is important to delve into an ETF&#39;s holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation in the Information Technology sector--about 85.10% of the portfolio. Financials and Industrials round out the top three.
Looking at individual holdings, Q2 Holdings Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/qtwo#NYSE">QTWO</a>) accounts for about 2.82% of total assets, followed by Squarespace Inc - Class A (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sqsp#NYSE">SQSP</a>) and Wix.com Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wix#NASDAQ">WIX</a>).
The top 10 holdings account for about 21.75% of total assets under management.
<h2>Performance and Risk</h2>
So far this year, WCLD has lost about -11.13%, and is down about -0.06% in the last one year (as of 09/16/2024). During this past 52-week period, the fund has traded between $26.89 and $37.05.
The ETF has a beta of 1.11 and standard deviation of 39.89% for the trailing three-year period. With about 68 holdings, it effectively diversifies company-specific risk.
<h2>Alternatives</h2>
WisdomTree Cloud Computing ETF holds a Zacks ETF Rank of 1 (Strong Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, WCLD is an outstanding option for investors seeking exposure to the Technology ETFs segment of the market. There are other additional ETFs in the space that investors could consider as well.
Global X Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clou#NASDAQ">CLOU</a>) tracks INDXX GLOBAL CLOUD COMPUTING INDEX and the First Trust Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyy#NASDAQ">SKYY</a>) tracks ISE Cloud Computing Index. Global X Cloud Computing ETF has $353.11 million in assets, First Trust Cloud Computing ETF has $2.90 billion. CLOU has an expense ratio of 0.68% and SKYY charges 0.60%.
<a href="https://www.zacks.com/stock/news/2336237/should-you-invest-in-the-wisdomtree-cloud-computing-etf-wcld?cid=CS-BENZ-FT-sector_etf-2336237">To read this article on Zacks.com click here.</a>

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Should You Invest in the WisdomTree Cloud Computing ETF?

Cloud software company GitLab Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>) is exploring a potential sale after receiving acquisition interest, according to sources familiar with the matter, according to a Reuters report.
Google parent Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) holds a 22.2% voting stake in GitLab through its venture capital arm.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/06/39146733/gitlab-q1-earnings-revenue-beat-eps-beat-raised-guidance-and-more" rel="noreferrer noopener">GitLab Q1 Earnings: Revenue Beat, EPS Beat, Raised Guidance And More</a>
GitLab, which has a market value of about $8 billion, is working with investment bankers to manage the sale process, which has garnered interest from peers, including cloud monitoring firm Datadog Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>), Reuters reports.
<a target="_blank" href="https://www.benzinga.com/news/24/07/39795029/googles-potential-23b-wiz-acquisition-set-to-enhance-cloud-security" rel="noreferrer noopener">Deal-making in</a> the technology sector is on the rise, driven by advancements in artificial intelligence and cloud computing.
GitLab CEO and co-founder Sid Sijbrandij recently announced that he is undergoing treatment for osteosarcoma, a form of cancer, for the second time.
Investors can gain exposure to GitLab through First Trust Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYY#NASDAQ">SKYY</a>) and Vanguard Information Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGT#NYSE">VGT</a>).
<h2 class="wp-block-heading">GTLB Stock Prediction For 2024</h2>
Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.
Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at GitLab, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For GitLab, the 200-day moving average sits at $55.6, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, which is above the current price of $54.96. For more on charts and trend lines, <a href="https://pro.benzinga.com/">see a description here.</a>
Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.
Price Action: GTLB shares traded higher by 8.36% at $54.90 at the last check on Wednesday.
Also Read:
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<li><a href="https://www.benzinga.com/news/24/06/39508430/whats-going-on-with-gitlab-stock-on-wednesday" target="_blank" rel="noreferrer noopener">GitLab Shares Climb Following Board&#8217;s Revised Severance Policy</a></li>
</ul>
Photo by T. Schneider via shutterstock

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GOOG

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GTLB

Alphabet Backed GitLab Stock Soars On Wednesday - What's Going On?

GitLab Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>) stock traded higher on Wednesday after the company disclosed that its board amended its severance plan after a periodic <a target="_blank" href="https://ir.gitlab.com/financial-information/sec-filings" rel="noreferrer noopener">review</a>.
The <a target="_blank" href="https://ir.gitlab.com/static-files/fba30f7f-13dc-494e-8c0b-bedd61cc7657" rel="noreferrer noopener">revisions clarified</a> that the board cannot cancel an individual&#8217;s equity awards without consideration during a corporate transaction, affecting certain team members and named executive officers.
In June, GitLab reported <a target="_blank" href="https://www.benzinga.com/news/earnings/24/06/39146733/gitlab-q1-earnings-revenue-beat-eps-beat-raised-guidance-and-more" rel="noreferrer noopener">first-quarter revenue</a> of $169.187 million, beating analyst consensus estimates of $165.887 million. The company reported first-quarter adjusted EPS of $0.03, beating analyst estimates for a loss of $(0.04).
Revenue was up 33% on a year-over-year basis. Customers with more than&nbsp;$5,000&nbsp;of ARR increased to 8,976, up&nbsp;21% year-over-year. Customers with&nbsp;more than&nbsp;$100,000&nbsp;of ARR increased to 1,025, up&nbsp;35% year-over-year.
GitLab reported operating cash flow of $38.1 million in the first quarter. The company also said it generated $37.4 million of adjusted free cash flow during the quarter. GitLab ended the quarter with approximately $420.3 million in cash.
GitLab expects full-year revenue to be between $733.00 million &#8211; $737.00 million versus estimates of $731.67 million. The company expects full-year adjusted EPS of $0.34 &#8211; $0.37 versus estimates of $0.21.
Investors can gain exposure to the stock via First Trust Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYY#NASDAQ">SKYY</a>) and Vanguard Information Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGT#NYSE">VGT</a>).
Price Action: GTLB shares traded higher by 11.90% at $48.82 at the last check Wednesday.
Photo by T. Schneider via Shutterstock

What's Going On With GitLab Stock On Wednesday?

Michael Dell, CEO of Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>), is set to sell 10 million shares valued at approximately $1.3 billion, as <a target="_blank" href="https://www.sec.gov/Archives/edgar/data/1571996/000195824424002780/xsl144X01/primary_doc.xml" rel="noreferrer noopener">revealed </a>in a recent regulatory filing dated June 6.
This year could mark a record in Michael Dell&#8217;s selling history, surpassing the total from 1999 during the peak of the internet bubble.
This follows an earlier transaction where the billionaire and the Michael &amp; Susan Dell Foundation sold shares worth $1.6 billion, positioning 2024 as potentially his most significant year of stock liquidation, according to a report from <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-06-11/fake-family-offices-are-a-new-problem-for-asia-s-billionaire-investors?srnd=homepage-europe&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
The year 1999 saw Michael Dell selling $1.7 billion in stock, just before the burst of the internet bubble. These planned sales will still leave him with nearly half ownership of Dell Technologies, anchoring his $108 billion fortune as per the Bloomberg Billionaires Index.
Dell, who ranks as the 12th richest person globally per the report, established Dell Technologies in 1984 while attending the University of Texas at Austin.
Related Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39233957/nvidias-ai-chip-the-product-propelling-its-success" rel="noreferrer noopener">Nvidia&#8217;s AI Chip &#8211; The Product Propelling Its Success</a>
The company has significantly benefited from the recent AI boom, bolstering demand for infrastructure to support advanced processors from companies like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
Dell&#8217;s fortune reached a milestone in March as his net worth exceeded $100 billion, thanks to soaring stock values.
However, after <a target="_blank" href="https://www.benzinga.com/news/24/05/39118013/dell-technologies-shares-dip-despite-beating-q1-expectations-what-you-need-to-know" rel="noreferrer noopener">disappointing earnings reported in May</a>, the company&#8217;s shares took a significant hit, reportedly marking the largest single-day drop in Michael Dell&#8217;s wealth on record.
Dell stock has gained more than 175% in the last 12 months. Investors can gain exposure to the stock via Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTF#NASDAQ">PTF</a>) and First Trust Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYY#NASDAQ">SKYY</a>).
Price Action: DELL shares are trading lower by 0.61% at $131.64 at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

General

NVDA

Powershares Dynamic Technology Securitytor Portfolio

Dell Technologies CEO Cashes In: Michael Dell To Sell 10M Shares Amid AI Boom

The First Trust Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyy#NASDAQ">SKYY</a>) was launched on 05/27/2011, and is a smart beta exchange traded fund designed to offer broad exposure to the Technology ETFs category of the market.
What Are Smart Beta ETFs?
Products that are based on market cap weighted indexes, which are strategies designed to reflect a specific market segment or the market as a whole, have traditionally dominated the ETF industry.
Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency.
On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest in another class of funds that track non-cap weighted strategies--popularly known as smart beta.
This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix of such characteristics.
Even though this space provides many choices to investors--think one of the simplest methodologies like equal-weighting and more complicated ones like fundamental and volatility/momentum based weighting--not all have been able to deliver first-rate results.
Fund Sponsor &amp; Index
The fund is sponsored by First Trust Advisors. It has amassed assets over $3.09 billion, making it one of the larger ETFs in the Technology ETFs. This particular fund, before fees and expenses, seeks to match the performance of the ISE Cloud Computing Index.
The ISE Cloud Computing Index is a modified market capitalization weighted index designed to track the performance of companies actively involved in the cloud computing industry.
Cost &amp; Other Expenses
When considering an ETF&#39;s total return, expense ratios are an important factor. And, cheaper funds can significantly outperform their more expensive cousins in the long term if all other factors remain equal.
With on par with most peer products in the space, this ETF has annual operating expenses of 0.60%.
It has a 12-month trailing dividend yield of 0%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation in the Information Technology sector - about 86.70% of the portfolio. Telecom and Consumer Discretionary round out the top three.
When you look at individual holdings, Oracle Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/orcl#NYSE">ORCL</a>)&nbsp;accounts for about 4.30% of the fund&#39;s total assets, followed by International Business Machines Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ibm#NYSE">IBM</a>) and Alphabet Inc. (class A) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>).
Its top 10 holdings account for approximately 36.18% of SKYY&#39;s total assets under management.
Performance and Risk
The ETF return is roughly 9.81% and is up about 43.34% so far this year and in the past one year (as of 05/20/2024), respectively. SKYY has traded between $67.96 and $97.12 during this last 52-week period.
The fund has a beta of 1.07 and standard deviation of 31.35% for the trailing three-year period, which makes SKYY a medium risk choice in this particular space. With about 66 holdings, it effectively diversifies company-specific risk.
Alternatives
First Trust Cloud Computing ETF is an excellent option for investors seeking to outperform the Technology ETFs segment of the market. There are other ETFs in the space which investors could consider as well.
Global X Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clou#NASDAQ">CLOU</a>) tracks INDXX GLOBAL CLOUD COMPUTING INDEX and the WisdomTree Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wcld#NASDAQ">WCLD</a>) tracks BVP NASDAQ EMERGING CLOUD INDEX. Global X Cloud Computing ETF has $475.75 million in assets, WisdomTree Cloud Computing ETF has $576.54 million. CLOU has an expense ratio of 0.68% and WCLD charges 0.45%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Technology ETFs.
<a href="https://www.zacks.com/stock/news/2275799/is-first-trust-cloud-computing-etf-skyy-a-strong-etf-right-now?cid=CS-BENZ-FT-smart_beta_etf-2275799">To read this article on Zacks.com click here.</a>

ORCL

Is First Trust Cloud Computing ETF a Strong ETF Right Now?

Amazon.com Inc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Amazon Web Services (AWS) unveiled its&nbsp;<a target="_blank" href="https://www.aboutamazon.eu/news/aws/aws-plans-to-invest-7-8-billion-into-the-aws-european-sovereign-cloud" rel="noreferrer noopener">plan&nbsp;</a>to invest €7.8 billion in the AWS European Sovereign Cloud in Germany through 2040.&nbsp;
The initiative will commence with the launch of the first AWS Region in the State of Brandenburg, Germany, by the end of 2025, catering to all customers.
The long-term investment by AWS will foster productivity gains, drive digital transformation in businesses, strengthen the AWS Partner Network (APN), enhance the skills of the cloud and digital workforce, and foster renewable energy projects.
AWS&#8217;s extensive investment is forecasted to contribute €17.2 billion to Germany&#8217;s GDP by 2040.&nbsp;
Additionally, it&nbsp;is expected&nbsp;to sustain around 2,800 full-time equivalent jobs annually in local German businesses, spanning various sectors such as construction, engineering, telecommunications, and other ancillary roles within the local economy.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38783794/amazon-pours-1-3b-investment-into-french-operations-report" rel="noreferrer noopener">Amazon Pours ~$1.3B Investment Into French Operations: Report</a>
AWS will introduce new permanent positions to facilitate the establishment and operation of the AWS European Sovereign Cloud. These roles will encompass software engineers, systems developers, and solutions architects.&nbsp;
Crucially, AWS has pledged that all operational aspects of the AWS European Sovereign Cloud will be managed exclusively by personnel situated within the EU, ensuring compliance with regional regulations.
With a cumulative investment exceeding €150 billion in the EU since 2010, Amazon currently employs over 150,000 individuals in permanent roles within the European Single Market.
Jörg Steinbach, Brandenburg&#8217;s Minister of Economic Affairs, Labour and Energy&nbsp;said, &#8220;High performing, reliable, and secure infrastructure is the most important prerequisite for an increasingly digitalised economy and society.&nbsp;Brandenburg is making progress here. In recent years, we have set on a course to invest in modern and sustainable data centre infrastructure in our state, strengthening Brandenburg as a business location.&#8221;
The AWS European Sovereign Cloud represents a new independent cloud offering tailored for Europe, providing&nbsp;heightened control and choice for public sector organizations and customers in highly regulated industries.&nbsp;
Last week, AWS announced a collaboration with Telefonica Germany&nbsp;to migrate&nbsp;<a target="_blank" href="http://Amazon, Telefonica's Bold Venture To Transform Telecommunications - What's On The Cards?" rel="noreferrer noopener">one million 5G customers to its cloud platform.</a>
AMZN stock has gained more than 68% in the last 12 months. Investors can gain exposure to the stock via Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) and Vanguard Consumer Discretionary ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCR#NYSE">VCR</a>).
Price Action: AMZN shares are trading higher by 0.11% at $187.28 in premarket at&nbsp;the last check Wednesday.
Disclaimer:&nbsp;This content was partially produced&nbsp;with the help of&nbsp;AI tools and&nbsp;was&nbsp;reviewed and published by Benzinga editors.
Related Read: <a href="https://www.benzinga.com/markets/equities/24/05/38783988/microsofts-4b-french-ai-push-tech-expansion-reportedly-intensifies" target="_blank" rel="noreferrer noopener">Microsoft&#8217;s €4B French AI Push: Tech Expansion Reportedly Intensifies</a>
Photo via Shutterstock

AMZN

Select Sector SPDR-Consumer Discretionary

Amazon AWS To Pump €7.8B Into German Cloud Expansion: Details

DigitalOcean Holdings Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCN#NYSE">DOCN</a>)&nbsp;shares are trading higher Friday after it&nbsp;reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b38756318/digitalocean-announces-first-quarter-2024-financial-results" rel="noreferrer noopener">fiscal first-quarter results</a>.
Revenue grew 12% year over year to $184.73 million, beating the analyst consensus estimate of $182.58 million.
Adjusted EPS of $0.43 surpassed&nbsp;the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $0.38</a>.
Annual Run-Rate Revenue (ARR) ended the quarter at $749 million, up 12%&nbsp;year over year,&nbsp;and Average Revenue Per Customer (ARPU) increased 8% year over year to $95.13.
Builders and Scalers (customers spending over $50 per month) grew 8%&nbsp;Y/Y, and their revenue rose 13%&nbsp;Y/Y&nbsp;in the quarter.
Adjusted EBITDA rose 33% Y/Y to $74 million, with a margin of 40% vs. 34% a year ago.
As of March 31, 2024, cash, cash equivalents, and marketable securities stood at $419 million.&nbsp;
&#8220;The first quarter was a strong start to the year as we position the company to be the leading cloud and AI platform for growing technology businesses,&#8221; said Paddy Srinivasan, CEO of DigitalOcean.&nbsp;
Outlook: For&nbsp;the second quarter, DOCN expects adjusted EPS of $0.38 &#8211; $0.40 vs.&nbsp;$0.39&nbsp;estimate and revenue of $188 million&nbsp;&#8211; $189 million vs.&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">street view of $187.09 million</a>.
For fiscal 2024, the company expects revenue of $760 million—$775 million (<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/b37245373/digitalocean-announces-fourth-quarter-and-fiscal-year-2023-financial-results" rel="noreferrer noopener">prior $755 million—$775 million</a>) vs. the consensus of $766.36 million and adjusted EPS of $1.60 &#8211; $1.67 vs. the $1.63 estimate.
DigitalOcean Holdings replaced Agiliti Inc in the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38537209/digitalocean-holdings-set-to-join-s-p-smallcap-600" rel="noreferrer noopener">S&amp;P SmallCap 600</a>&nbsp;on May 7.&nbsp;
DigitalOcean Holdings stock gained over 29% in the last&nbsp;six&nbsp;months. Investors can gain exposure to the stock via&nbsp;the Global X Cloud Computing ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOU#NASDAQ">CLOU</a>) and&nbsp;the First Trust Cloud Computing ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYY#NASDAQ">SKYY</a>).
Price Action: DOCN shares are up 5.14% at $34.26 at the last check Friday.
Photo via Shutterstock

DOCN

Cloud and AI Service Provider DigitalOcean Stock Soars - Here's Why

Appian Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPN#NASDAQ">APPN</a>)&nbsp;reported fiscal first-quarter 2024 revenue growth of 11% year-on-year to $149.84 million, marginally beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g38577668/appian-announces-first-quarter-2024-financial-results" rel="noreferrer noopener">analyst consensus of $149.76 million</a>.
Adjusted&nbsp;EPS loss of 24 cents missed the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus loss of 16 cents</a>.&nbsp;The&nbsp;stock price plunged close to 20%&nbsp;after the results.
Total subscription revenue increased 19% year over year to $117.7 million.&nbsp;Professional services revenue was $32.1 million, down 11% year over year.
Outlook: Appian expects second-quarter revenue of $140.00 million &#8211; $144.00 million, up by 10% &#8211; 13% Y/Y against the consensus of $145.25 million. It projects an adjusted EPS loss of 34 cents to 28 cents versus the 29 cents consensus loss .
The&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37162688/why-is-appian-corp-stock-shooting-upwards-thursday" rel="noreferrer noopener">company reiterated fiscal 2024</a>&nbsp;revenue of $615.00 million – $617.00 million, up by 13% Y/Y, below the consensus of $615.75 million. It projects adjusted EPS loss of $(0.85) &#8211; $(0.79) (prior $(0.73) – $(0.66)), against the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus loss of $(0.68)</a>.
Appian&nbsp;stock gained over 1% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust Nasdaq Artificial Intelligence And Robotics ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROBT#NASDAQ">ROBT</a>) and&nbsp;First Trust Cloud Computing ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYY#NASDAQ">SKYY</a>).
Price Action:&nbsp;APPN shares traded lower by 20.10% at $29.35 on&nbsp;the last check Thursday.
Photo via Shutterstock

APPN

ROBT

Cloud Computing Firm Appian Stock Nosedives After Q1 Print, What's Going On?

Global X&#8217;s investment chief, Jon Maier, reflects on the investment landscape for 2024, which is shaping up to be particularly interesting, thanks to AI-related stocks, cloud computing, cybersecurity, emerging markets, and small caps for potential growth.
What Happened: Maier, who is associated with the  $48 billion award-winning AI exchange-traded fund (ETF) provider Global X, has identified several promising sectors for investors in 2024, <a href="https://www.businessinsider.com/ai-stocks-how-to-invest-2024-artificial-intelligence-global-x-2023-12?IR=T">reported</a> Business Insider. 
Among them, AI-related stocks, including Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), cloud computing, and cybersecurity, stand out as &#8220;naturals that fit together.&#8221;
Maier suggests investors consider the Global X Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOU#NASDAQ">CLOU</a>) and the Global X Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BUG#NASDAQ">BUG</a>), or alternatives such as the First Trust Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYY#NASDAQ">SKYY</a>) and the iShares Cybersecurity and Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHAK#NYSE">IHAK</a>).
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36260793/shibu-inu-is-at-the-brink-of-all-time-highs-will-it-roar-when-analysts-expect-a-historic-p?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shibu Inu Is At The Brink Of All-Time Highs, Will It Roar? When Analysts Expect A Historic Pop</a>
He also sees value in small caps due to their attractive valuations and seasonal trends, recommending ETFs like the Vanguard Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VB#NYSE">VB</a>) and the iShares Core S&amp;P Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>).
Maier also mentioned covered-call products, including Global X&#8217;s S&amp;P 500 Covered Call ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYLD#NYSE">XYLD</a>) and Nasdaq 100 Covered Call ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QYLD#NASDAQ">QYLD</a>). He added that they are a top idea if markets appear range-bound next year.
Moreover, Maier perceives potential in emerging markets, particularly India, due to its demographic changes and appeal to foreign investments.
Why It Matters: This surge in AI-focused ETFs comes amid increased attention on AI in the financial sector. SEC Chairman Gary Gensler has recently <a href="https://www.benzinga.com/news/23/12/36138511/gary-gensler-warns-companies-from-boasting-about-artificial-intelligence-dont-ai-wash">warned companies to refrain from overstating</a> their AI capabilities. While companies explore potential growth opportunities with AI, the SEC is closely monitoring them to ensure transparency. 
Read Next: <a href="https://www.benzinga.com/general/biotech/23/12/36175332/inmeds-nasdaq-inm-latest-research-demonstrates-potential-in-treating-alzheimers-with-a-rare-canna?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">InMed's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INM#NASDAQ">INM</a>) Latest Research Demonstrates Potential In Treating Alzheimer's with a Rare Cannabinoid Analog</a>
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IHAK

QYLD

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Global X Funds Global X S&P 500 Covered Call ETF

XYLD

Investment Chief At $48B Global X Forecasts AI Stock Dominance In 2024: Unveils Top Investment Opportunities

<ul>
<li>The Justice Department (DOJ) has formed a task force to curb the ransomware cyberattacks and target the digital ecosystem that supports the attacks, the&nbsp;<a class="editor-rtfLink" href="https://www.wsj.com/articles/ransomware-targeted-by-new-justice-department-task-force-11619014158?mod=tech_lead_pos2" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Wall Street Journal reports</a>.</li>
<li>Acting Deputy Attorney General John Carlin&rsquo;s internal memorandum stated that the cyber threats jeopardized the safety and health of Americans, and the economy too.</li>
<li>The task force will dedicate more training and resources to improve departmental intelligence sharing and nexus detection between criminal actors and nation-states.</li>
<li>Ransomware attacks surged in 2020 during the pandemic as the world got technology-driven, security experts and U.S. officials said.</li>
<li>The hackers continue to extort heftier ransoms from victims and reinvest the profits in cyber tools for enhanced and voluminous attacks. The memo sought a strategy to target the entire criminal ecosystem around ransomware.</li>
<li>The task force will encompass the DOJ&rsquo;s criminal, national security, civil divisions, the Federal Bureau of Investigation (FBI), and the Executive Office. It will also boost alliance with the private sector, international partners, and other federal agencies like the Treasury and Homeland Security departments.</li>
<li>Carlin was supervising the task force. Lisa Monaco became the deputy attorney general on Tuesday.</li>
<li>An upsurge in ransomware attacks during the beginning of the coronavirus hospitalizations disrupted operations and patient care at several hospitals. The task force would study and make recommendations on how to address that tension, stated Carlin.</li>
<li>Carlin said the task force would attempt to discover advanced uses of legal authorities to protect victims ahead of an attack.</li>
<li>Last week, the DOJ revealed that the FBI&rsquo;s computer networks were still susceptible to the recent&nbsp;Microsoft Corp&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/msft#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MSFT</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/21/03/19978314/microsoft-allege-email-software-server-hack-by-chinese-hackers-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Exchange Server</a>&nbsp;attack and could attract ransomware.</li>
<li>Security companies have acknowledged the recent rise in the average size of ransoms reaching billions of dollars.</li>
<li>Carlin witnessed ransomware payments of over $20 million while serving as a law firm partner.</li>
<li>Carlin told WSJ that companies surrendered to the attacks to save ten to twenty times the ransom amount.</li>
</ul>

CIBR

HACK

MSFT

DOJ Forms Task Force To Curb Ransomware Attack: WSJ

<ul>
<li>Security rating company&nbsp;SecurityScorecard&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/03/n20229453/securityscorecard-raises-180-million-in-series-e-financing-round-to-make-security-ratings-mainstre" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">announced the completion</a>&nbsp;of a $180 million Series E preferred stock financing round at a close to&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/article/us-securityscorecard-funding/securityscorecard-raises-180-million-at-nearly-1-billion-valuation-idUSKBN2BA11M" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">$1 billion valuation</a>, bringing the total funding to over $290 million.</li>
<li>The financing round involved new investors like Silver Lake Waterman, funds and accounts advised by T. Rowe Price Associates, Inc., Kayne Anderson Rudnick, and Fitch Ventures, and existing investors Evolution Equity Partners, Accomplice, Riverwood Capital,&nbsp;Intel Corp&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/intc#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">INTC</a>) division Intel Capital, NGP Capital, AXA Venture Partners,&nbsp;Alphabet Inc&rsquo;s&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/goog#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOG</a>) (NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/googl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOGL</a>) venture capital investment arm GV (Google Ventures), and Boldstart Ventures.</li>
<li>The company&rsquo;s growth has been attributed to the rising use cases across vendor risk management, self-monitoring, board reporting, cybersecurity insurance underwriting, and M&amp;A due diligence further accelerated by the pandemic.</li>
<li>The funding would fast-track the company&rsquo;s rapid global expansion and growth, supporting the high demand for the security rating platform, triggered by several significant supply chain attacks and corresponding increased regulatory attention on cyber oversight of suppliers.</li>
<li>The company&rsquo;s international recurring revenue grew over 61% year on year, and total international customers increased 89% despite the choppy business climate in Q4 FY20. SecurityScorecard also added over 450 new logos and several highly influential international alliance partners, including GM Sectec,&nbsp;IHS Markit Ltd&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/info#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">INFO</a>), Diligent Corporation, Exiger, and Tomorrow Street (a joint venture between Vodafone and Technoport - Luxembourg government technology incubator).</li>
<li>J.P. Morgan Securities LLC served as the placement agent for SecurityScorecard.</li>
</ul>

INFO

INTC

SecurityScorecard Close To Unicorn Status Based On $180M Latest Financing Round

Microsoft Corp&rsquo;s&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/msft#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MSFT</a>) entitlement to a quarter of the Congress pandemic relief funds earmarked for U.S. cybersecurity defenders despite its recent hacks have irked lawmakers over national security threat concerns,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/article/us-usa-cyber-microsoft-exclusive/exclusive-microsoft-could-reap-more-than-150-million-in-new-u-s-cyber-spending-upsetting-some-lawmakers-idUSKBN2B713L" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters reports</a>.
<ul>
<li>The two massive cyberattacks leveraged weaknesses in Microsoft products,&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/21/03/19978314/microsoft-allege-email-software-server-hack-by-chinese-hackers-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">compromising the computer networks</a>&nbsp;at federal and local agencies and tens of thousands of companies.&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/20/12/18848060/microsoft-says-its-ecosystem-was-compromised-in-solarwinds-cyberattack" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">In December, one breach credited</a>&nbsp;to Russia seized emails from the Justice Department, Commerce Department, and Treasury Department.</li>
<li>Therefore, the lawmakers sought the government&rsquo;s revaluation over its dependence on Microsoft.</li>
<li>Cybersecurity Infrastructure Security Agency&rsquo;s draft spending plan had reportedly allocated over $150 million of their new $650 million funding to assist other federal agencies to upgrade their existing Microsoft deals to improve cloud security.</li>
<li>Microsoft&rsquo;s activity logging service enabled the clients to monitor data traffic within their part of the cloud and detect discrepancies identifying potential hackers. Officials sought access to Microsoft&rsquo;s premium tracking capability to investigate recent hacks tied to nation-states.</li>
<li>Microsoft justified additional payment for the access citing larger organizations&rsquo; advanced capability requirements, which met with divided responses from the U.S. cyber officials.</li>
<li>&ldquo;If the only solution to a major breach in which hackers exploited a design flaw long ignored by Microsoft is to give Microsoft more money, the government needs to reevaluate its dependence on Microsoft,&rdquo; said Oregon Senator Ron Wyden. &ldquo;The government should not be rewarding a company that sold it insecure software with even bigger government contracts,&rdquo; he added.</li>
<li>Microsoft successfully twisted security offerings leading to $10 billion in annual revenue, up 40% year-on-year.</li>
<li>The lawmakers questioned the prioritization of security during the vendor procurement process insinuating towards newer regulations.</li>
<li>Price action:&nbsp;MSFT shares are trading lower by 0.99% at $233.41 on the last check Monday.</li>
</ul>

Select Lawmakers Rebuke Microsoft Over Potential $150M US Cyber Spending Quota: Reuters

Identity security for the cloud enterprise provider&nbsp;Sailpoint Technologies Holdings Inc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/sail#NYSE" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">SAIL</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/03/b20141098/sailpoint-announces-intent-to-acquire-erp-maestro-uniting-identity-security-with-separation-of-dut" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">announced its intention to</a>&nbsp;acquire SaaS governance, risk, and compliance (GRC) solution ERP Maestro.
<ul>
<li>The financial terms of the acquisition were not disclosed.</li>
<li>The acquisition would enable Sailpoint to unite identity security with ERP Maestro&rsquo;s Separation-of-Duty (SoD) controls monitoring for an organization&rsquo;s most critical applications, like SAP.</li>
<li>The arrangement would provide the integrated approach for effective identity security controls and SoD oversight to spot and stop risks posed by potential insider SoD conflicts before they become a crisis of fraud or sensitive data breach.</li>
<li>Sailpoint&rsquo;s&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/02/b19866053/sailpoint-announces-fourth-quarter-and-full-year-2020-financial-results" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">cash and cash equivalents</a>&nbsp;amounted to $516.6 million as of December 31, 2020.</li>
<li>Price action:&nbsp;SAIL shares are down 0.12% at $56.63 on the last check Friday.</li>
</ul>

Sailpoint To Acquire SaaS GRC Solution ERP Maestro

<ul>
<li>Cybersecurity platform&nbsp;Snyk Ltd&nbsp;disclosed closing a $300 million funding round, quadrupling its valuation to $4.7 billion from 2020 beginning,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2021-03-10/cybersecurity-firm-snyk-reaches-4-7-billion-valuation-in-round?sref=TBDibEcD" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">Bloomberg reports</a>.</li>
<li>The transaction included both primary and secondary offerings, translating into fresh capital of $175. As a result, the total funding raised by Snyk amounted to $470 million since its 2015 inception.</li>
<li>The funding round was co-led by venture firms Accel and Tiger Global Management. Other investors included Addition, BlackRock Inc., Boldstart Ventures, Canaan Partners, Coatue, GV, Salesforce Ventures, and Stripes. The round also included new investors like Atlassian Ventures and Franklin Templeton.</li>
<li>The Snyk platform enabled developers to integrate security into their existing workflows automatically. The platform included secure components, like code and open source libraries, to develop cloud-native applications to counter increasingly sophisticated attacks.</li>
<li>Snyk&rsquo;s valuation significantly surged during the past year. The company was valued at over $1 billion in a $150 million funding round in January 2020. Last September, it obtained a $2.6 billion valuation with a $200 million investment.</li>
<li>The company reportedly aims for a public listing over the next couple of years, preferably via an IPO route instead of a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/topic/spacs" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">SPAC</a>&nbsp;merger.</li>
</ul>

Financing

PANW

Cybersecurity Firm Snyk Secures $4.7B Valuation In Latest Funding Round: Bloomberg

The following post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga. 
When it comes to sector exchange-traded funds, it&#39;s hard to find funds that are more revered&nbsp;&mdash;&nbsp;and better performing &mdash;&nbsp;than technology fare.
What Happened: Regarding tech industry ETFs, cloud computing and cybersecurity funds have been stout performers and investor favorites. Now, aggressive traders can get add some leverage to the mix thanks to new duo of geared ETFs.
On Thursday, ProShares launched the ProShares Ultra Nasdaq Cybersecurity ETF&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ucyb#NASDAQ">UCYB</a>) and the ProShares Ultra Nasdaq Cloud Computing (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyu#NASDAQ">SKYU</a>).
UCYB is the first leveraged cybersecurity ETF. Direxion <a href="https://www.benzinga.com/etfs">launched a bullish and bearish</a> set of leveraged cloud ETFs earlier this month.
Why It&#39;s Important: &ldquo;The growing need for remote computing, and our increased reliance on secure internet communications and connectivity &mdash; existing themes accelerated by the coronavirus pandemic &mdash; have expanded the already significant investment opportunities in the cybersecurity and cloud computing industries,&rdquo; <a href="https://www.businesswire.com/news/home/20210121005202/en/ProShares-Launches-Firm%E2%80%99s-First-Leveraged-Thematic-ETFs">says ProShares CEO Michael L. Sapir</a>. &ldquo;Our new ETFs will offer investors a way to gain leveraged exposure to these rapidly changing industries in a transparent ETF format.&rdquo;
UCYB, the leveraged cybersecurity ETF, looks to deliver double the daily performance of the Nasdaq CTA Cybersecurity Index. That&#39;s the same index tracked by the $3.48 billion First Trust Nasdaq Cybersecurity ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cibr#NASDAQ">CIBR</a>).
SKYU, the ProShares cloud ETF, looks to deliver double the daily performance of the ISE CTA Cloud Computing Index. That&#39;s the underlying benchmark for the First Trust Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyy#NASDAQ">SKYY</a>), the original cloud ETF.
What&#39;s Next: Like any leveraged ETFs, the new SKYU and UCYB should be treated as short-term instruments, not long-term investments.
&ldquo;Due to the <a href="https://www.proshares.com/funds/performance/the_universal_effects_of_compounding.html">compounding</a> of daily returns, holding periods of greater than one day can result in returns that are significantly different than the target return and ProShares&#39; returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period,&rdquo; <a href="https://www.proshares.com/funds/skyu.html">according to ProShares</a>.
The preceding post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
(Photo: Philipp Katzenberger on Unsplash)

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