NET - These 2 Cloud Stocks Are Soaring on a Gloomy Friday
The stock market went through a reversal in sentiment on Thursday, and the downbeat mood on Wall Street looked ready to continue on Friday morning. Stock index futures were broadly lower in the premarket session, with the Dow Jones Industrial Average (DJINDICES: ^DJI) expected to fall about a third of a percent and other indexes seeing slightly larger possible declines.
Despite the somewhat gloomy atmosphere, a pair of stocks in the cloud computing space posted significant gains. Cloudflare (NYSE: NET) and Alteryx (NYSE: AYX) address different parts of the software-as-a-service arena, but they both benefited from favorable financial reports that suggest a brighter future ahead. Read on to learn more about what Cloudflare and Alteryx said to their shareholders and what it could mean for their cloud stock peers.
Shares of Cloudflare jumped 11% in premarket trading Friday morning. The internet security and reliability specialist reported fourth-quarter financial results that confirmed its continuing growth trajectory.
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These 2 Cloud Stocks Are Soaring on a Gloomy Friday