First Trust Cloud Computing ETF (NASDAQ: SKYY)

First Trust Cloud Computing ETF (NASDAQ:SKYY), Quote.Headers.trade-ideas

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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Designed to provide broad exposure to the Technology - Cloud Computing segment of the equity market, the WisdomTree Cloud Computing ETF (NASDAQ: WCLD) is a passively managed exchange traded fund launched on 09/06/2019.

Should You Invest in the WisdomTree Cloud Computing ETF?

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Cloud software company GitLab is exploring a potential sale after receiving acquisition interest from various peers, including Datadog and Google.

Alphabet Backed GitLab Stock Soars On Wednesday - What&#39;s Going On?

What&#39;s Going On With GitLab Stock On Wednesday?

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>

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:
<ul>
<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

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.
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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>

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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>
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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

Earnings

Guidance

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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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)

Long Ideas

Specialty ETFs

New ETFs

SKYU

UCYB

Double The Excitement: ProShares New Geared Cloud Computing, Cybersecurity ETFs

<ul>
<li>This weekend&#39;s <a href="http://www.benzinga.com/topic/barron-s">Barron&#39;s</a> cover story examines special purpose acquisition companies, the new hot thing on Wall Street. </li>
<li>Other featured articles look at how to play rising gold prices or China&#39;s comeback, and how not to get burned by thematic ETFs. </li>
<li>Also, the prospects for car dealer stocks, the breakup of big tech, office REITs and more.</li>
</ul>
Cover story &quot;<a href="https://www.barrons.com/articles/spacs-are-the-new-hot-thing-on-wall-street-51596240193">SPACs Are the New Hot Thing on Wall Street. What You Need to Know</a>&quot; by Nicholas Jasinski explains that blank-check companies give investors an opportunity to ride along with dealmakers looking to bring new businesses public, such as Nikola Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nkla#NASDAQ">NKLA</a>) and Virgin Galactic Holdings Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spce#NYSE">SPCE</a>).
Andrew Bary&#39;s &quot;<a href="https://www.barrons.com/articles/gold-prices-are-on-the-rise-here-are-the-stocks-funds-and-etfs-to-buy-51596225252">Gold Prices Are on the Rise. Here Are the Ways to Play It</a>&quot; makes a case that there could be more room for gold and gold-mining stocks to advance. See if Barron&#39;s thinks Barrick Gold Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gold#NYSE">GOLD</a>) is worth a look.
In &quot;<a href="https://www.barrons.com/articles/car-dealer-stocks-could-offer-investors-a-good-ride-51596213423">Park These 3 Car Dealer Stocks in Your Portfolio</a>,&quot; Daren Fonda shows why car-buyers have gravitated toward online platforms, but for investors, the better deals are still at the lot. Why investors should consider AutoNation, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/an#NYSE">AN</a>) and others.
What the United States can learn from China&#39;s revival, according to &quot;<a href="https://www.barrons.com/articles/investing-in-chinas-consumer-comeback-51596134656">How to Invest in China&#39;s Consumer Comeback</a>&quot; by Reshma Kapadia. Travel is out, but e-commerce, such as JD.Com Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jd#NYSE">JD</a>), is among the areas that are thriving.
In Bill Alpert&#39;s &quot;<a href="https://www.barrons.com/articles/why-overstock-com-could-soar-and-online-education-could-tank-51596223292">2 Picks and 4 Pans From a Savvy Pro</a>,&quot; the founder of an independent research firm shares his thoughts on what to expect from the likes of Overstock.com Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ostk#NASDAQ">OSTK</a>) and Zillow Group Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zg#NASDAQ">ZG</a>).
See also: <a href="https://www.benzinga.com/government/20/08/16886485/tiktok-is-on-the-clock-as-trump-threatens-ban-microsoft-mulls-acquisition">TikTok Is On The Clock As Trump Threatens Ban, Microsoft Mulls Acquisition</a>
&quot;<a href="https://www.barrons.com/articles/tech-giants-arent-likely-to-be-busted-up-by-regulators-heres-why-51596242858">Congress&#39; Grilling of Tech Titans Didn&#39;t Rattle Their Shares. Here&#39;s Why</a>&quot; by Max A. Cherney takes a look at how likely breakups of Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) and other tech giants are after last week&#39;s testimony by their chiefs.
Niche exchange-traded funds, such as First Trust Cloud Computing ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/skyy#NYSE">SKYY</a>), invest in targeted areas. That&#39;s a huge benefit&mdash;until it&#39;s not. So says Evie Liu&#39;s &quot;<a href="https://www.barrons.com/articles/thematic-etfs-invest-in-the-hottest-trends-how-not-to-get-burned-51596227959">Thematic ETFs Invest In the Hottest Trends. How Not To Get Burned.</a>&quot;
In &quot;<a href="https://www.barrons.com/articles/because-working-from-home-is-hot-youll-need-to-do-your-homework-on-office-reits-51596122676">Because Working From Home Is Hot, You&#39;ll Need to Do Your Homework on Office REITs</a>,&quot; Lawrence C. Strauss suggests that investors can still find potential winners among these real estate investment trusts. Is Cousins Properties Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cuz#NYSE">CUZ</a>) one of them?
Also in this week&#39;s Barron&#39;s:
<ul>
<li>Whether investors are too wary as earnings come in strong</li>
<li>How big tech CEOs got the last word</li>
<li>Robo advisors pass their first stress test</li>
<li>What to watch instead of gross domestic product</li>
<li>Why bitcoin is rising again</li>
</ul>
At the time of this writing, the author had no position in the mentioned equities.
Keep up with all the latest breaking news and trading ideas by following <a href="https://twitter.com/Benzinga">Benzinga</a> on Twitter.

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Barron's Picks And Pans: AutoNation, Overstock.com, SPACs And More

The technology sector is proving to be a premier source of strength this year. Just look at the tech-heavy Nasdaq-100 Index (NDX), which was the first of the major domestic equity benchmarks to return to positive territory following the March market swoon.
Within the broader technology universe, several sub-groups are standing out, including cloud computing. For example, the ISE CTA Cloud Computing Index entered Monday with a year-to-date gain of 9.54%.
For awhile, the universe of dedicated cloud computing exchange traded funds was sparsely populated, but that&#39;s changed over the past couple of year and some of the new additions to the group are performing well this year. Consider some of the following ideas.
<h3>Global X Cloud Computing ETF (CLOU)</h3>
The Global X Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clou#NASDAQ">CLOU</a>) remains one of the success stories of the thematic ETF realm. At just about 13 months old, the Global X ETF has nearly $597 million in assets under management, indicating there&#39;s room for competition and innovation in the cloud ETF space.
CLOU follows the Indxx Global Cloud Computing Index and is a play on &ldquo;companies positioned to benefit from the increased adoption of cloud computing technology, including companies whose principal business is in offering computing Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), Infrastructure-as-a-Service (IaaS), managed server storage space and data center real estate investment trusts, and/or cloud and edge computing infrastructure and hardware,&rdquo; <a href="https://www.globalxetfs.com/funds/clou/">according to Global X</a>.
Recently on a string of hitting all-time highs, including Monday, CLOU is up an impressive 18.82% year to date.
<h3>WisdomTree Cloud Computing Fund (WCLD)</h3>
The WisdomTree Cloud Computing Fund (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wcld#NASDAQ">WCLD</a>) is another emerging success story in the cloud ETF arena with nearly $80 million in assets under management after coming to market just last September. WCLD follows the BVP Nasdaq Emerging Cloud Index, which is an equal-weight benchmark.
&ldquo;Cloud computing has become ingrained in nearly every aspect of our lives by fundamentally altering how we consume, process and share information in the digital age,&rdquo;<a href="https://www.wisdomtree.com/-/media/us-media-files/documents/resource-library/investment-case/the-case-for-cloud-computing-fund-(wcld).pdf"> according to WisdomTree</a>. &ldquo;Through our research, WisdomTree believes this trend toward cloud-based solutions offers a compelling, long-term opportunity for investors to gain exposure to one of the most exciting segments of the technology sector.&rdquo;
Although WCLD is an equal-weight ETF, it&#39;s benefiting from high-flying Zoom Video (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zm#NASDAQ">ZM</a>) being its top component. That&#39;s helping WCLD to a 2020 gain of 24%. The WisdomTree ETF also hit an all-time high on Monday.
<h3>First Trust Cloud Computing ETF (SKYY)</h3>
The First Trust Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyy#NASDAQ">SKYY</a>) is the fund that got the cloud ETF party started nearly nine years ago and while it&#39;s a behemoth compared to its aforementioned rivals with $3.2 billion in assets, it&#39;s not necessarily the best fund in this category.
SKYY is a fine idea for investors looking to lean toward the largest cloud companies. Think Amazon (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) and Microsoft (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>), among others. Undoubtedly, that helps, but SKYY&#39;s performance is restrained by the mega-cap holdings as it&#39;s up just 9.5% this year. Of course, that&#39;s better than the broader market.

3 Soaring Cloud Computing ETFs

On <a href="https://www.cnbc.com/video/2019/10/24/final-trades-blackstone-tilray-fedex-more.html">CNBC&#39;s &quot;Fast Money Halftime Report,&quot;</a> Stephen Weiss suggested investors should buy FedEx Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdx#NYSE">FDX</a>). He thinks the stock will continue to move higher.
Pete Najarian noticed some deep in the money call buying in Blackstone Group Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bx#NYSE">BX</a>). He likes the activity, but he doesn&#39;t own the stock yet.
Jon Najarian said traders are buying upside calls in Tilray Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>). He bought those during the show.
Meghan Shue likes First Trust Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyy#NASDAQ">SKYY</a>).
Joe Terranova is a buyer of MKS Instruments, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mksi#NASDAQ">MKSI</a>).

Options

MKSI

TLRY

'Fast Money Halftime Report' Picks For October 24

And then there were three.
Three cloud computing exchange traded funds that is. That group of ETFs grew by one with Friday&#39;s debut of the WisdomTree Cloud Computing Fund (NASDAQ: WCLD).
<h3>What Happened</h3>
The latest entrant to the cloud ETF fray tracks the BVP Nasdaq Emerging Cloud Index, which is equally weighted Index designed to measure the performance of emerging public companies focused on delivering cloud-based software to customers,&rdquo; <a href="https://www.wisdomtree.com/etfs/thematic/wcld">according to WisdomTree</a>.
WCLD&#39;s underlying index has returned nearly 39% since the start of 2019. That&#39;s double the performance of the First Trust Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyy#NASDAQ">SKYY</a>), the oldest of the three cloud computing ETFs.
<h3>Why It&#39;s Important</h3>
Like its older rivals, WCLD is a play on a the fast-growing cloud universe and data support that impressive growth trajectory.
&ldquo;As the world becomes increasingly more digital and connected, the global cloud computing market has grown exponentially and is projected to total nearly $697 billion by 2025,&rdquo; said WisdomTree Global Head of Research Jeremy Schwartz <a href="https://www.wisdomtree.com/-/media/us-media-files/documents/about/pdf/2019/wisdomtree-launches-cloud-computing-fund-(wcld).pdf">in a statement</a>. &ldquo;The WisdomTree Cloud Computing Fund (WCLD) provides investors with a focused approach to selecting emerging cloud companies and scales the unique expertise of Nasdaq and Bessemer Venture Partners in identifying these companies.&rdquo;
WCLD holds 50 stocks, none of which exceed weights of 2.62%. The new ETF&#39;s holdings include Box, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/box#NYSE">BOX</a>), DocuSign (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/docu#NASDAQ">DOCU</a>) and Dropbox (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dbx#NYSE">DBX</a>).
&ldquo;WCLD targets cloud computing businesses, which we believe are best positioned for high levels of recurring revenue growth and have the potential to scale at a faster rate than traditional tech companies,&rdquo; said Schwartz. &ldquo;Cloud-based businesses typically have better profit margins and higher growth than other tech companies.&rdquo;
<h3>What&#39;s Next</h3>
It remains to be seen if WCLD will be a success, but it has one big advantage over its rivals: a lower fee. The new WisdomTree ETF charges just 0.45% per year, or $45 on a $10,000 investment. That&#39;s lower than the 0.60% charged by SKYY and well below the 0.68% on the Global X Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clou#NASDAQ">CLOU</a>).
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DOCU

Another Cloud Computing ETF Arrives And It's Less Expensive Than Rivals

Many new exchange traded funds struggle to attract assets immediately following their debuts. This is especially true of niche ETFs and those funds entering a market segment occupied by an established competitor.
<h3>What Happened</h3>
With those factors in mind, give the Global X Cloud Computing ETF (NASDAQ: CLOUS) some credit. Just a few days shy of its one-month anniversary, CLOU has $103.46 million in assets under management, as of May 7, <a href="https://www.globalxfunds.com/funds/clou/">according to issuer data</a>.
CLOU, which debuted on April 12, provides exposure to companies engaged in &ldquo;Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), Infrastructure-as-a-Service (IaaS), managed server storage space and data center real estate investment trusts, and/or cloud and edge computing infrastructure and hardware,&rdquo; according to New York-based Global X.
<h3>Why It&#39;s Important</h3>
Exceeding $100 million in assets is important for any new ETF because that is the asset level at which many industry observers believe issuers can make money on ETFs. Surpassing that milestone in less than a month is downright impressive.
In the case of CLOU, the new cloud ETF&#39;s immediate asset-gathering proficiency could be interpreted as a sign that the market can sustain multiple <a href="https://www.benzinga.com/trading-ideas/long-ideas/19/04/13549185/another-cloud-computing-etf-arrives">cloud computing ETFs</a>. CLOU competes directly with the First Trust Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyy#NASDAQ">SKYY</a>), which is nearly eight years old and has $2.25 billion in assets under management.
Obviously, CLOU has a way to go to catch SKYY, but the cloud computing market is growing at a rapid rate, indicating two ETFs can thrive in this niche.
&ldquo;The global cloud computing market is estimated to be worth well-over $300 billion by 2022, up from about $188 billion today and growing at a compound annual growth rate (CAGR) of 14.6 percent,&rdquo; <a href="https://www.globalxfunds.com/cloud-computing-digital-infrastructure/">according to Global X research</a>.
<h3>What&#39;s Next</h3>
CLOU is off to a fast start despite charging 0.68 percent per year, or $68 on a $10,000 investment. That is eight basis points more than the rival SKYY charges.
The cloud ETFs aren&#39;t mirror images of each other. CLOU and SKYY have just seven overlapping holdings and the percentage of CLOU holdings also in SKYY is just 19.4&nbsp;percent, <a href="https://www.etfrc.com/funds/overlap.php">according to ETF Research Center data</a>. The overlap by weight between the two funds is just 17 percent, indicating CLOU has plenty of differences relative to its established rival that could lead to materially different returns over time.
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Cloud computing ETFs are attractive investments now due to the rapid growth and digital transformation of the cloud market. With global spending on cloud services expected to surge and advancements in AI driving demand, these ETFs offer substantial growth opportunities. Hence, investors should consider buying strong cloud computing ETFs, such as iShares Future Cloud 5G and Tech (IDAT) and First Trust Cloud Computing (SKYY). Keep reading... Cloud computing ETFs target companies leading the digital revolution by providing essential cloud services such as infrastructure, software, and platforms. As digital transformation accelerates, these ETFs offer investors opportunities for significant growth and innovation, capitalizing on the expanding cloud market.
Therefore, investors might consider investing in fundamentally strong cloud computing ETFs, such as iShares Future Cloud 5G and Tech ETF (<a href="https://stocknews.com/stock/IDAT/">IDAT</a>) and First Trust Cloud Computing ETF (<a href="https://stocknews.com/stock/SKYY/">SKYY</a>).
The cloud computing market is shaped by rapid digital transformation, with businesses increasingly adopting cloud tech to enhance scalability, flexibility, and cost-efficiency. This shift boosts demand for tech such as SaaS, serverless computing, and private clouds to effectively manage these evolving environments.
Furthermore, global spending on public cloud services is projected to <a href="https://www.gartner.com/en/newsroom/press-releases/2024-05-20-gartner-forecasts-worldwide-public-cloud-end-user-spending-to-surpass-675-billion-in-2024#:~:text=Worldwide%20end%2Duser%20spending%20on,(GenAI)%20and%20application%20modernization.">surge by 20.4%</a>, reaching $675.40 billion in 2024. This impressive growth is driven by advancements in generative AI and application modernization. Consequently, cloud computing ETFs offer investors a valuable opportunity to benefit from the expanding cloud industry, capturing the potential of this dynamic sector.
Given this favorable backdrop, let's evaluate the two <a href="https://stocknews.com/category/technology-equities-etfs/">Technology Equities ETFs</a> picks, starting with number two.
ETF #2: iShares Future Cloud 5G and Tech ETF (<a href="https://stocknews.com/stock/IDAT/">IDAT</a>)
IDAT is an exchange-traded fund launched by BlackRock, Inc. and managed by BlackRock Fund Advisors. The fund invests in public equity markets, focusing on companies operating in information technology, and those related to cloud computing and 5G sectors. It invests in both growth and value stocks across diversified market capitalizations. The fund seeks to track the performance of the Morningstar Global Digital Infrastructure &amp; Connectivity Index using a representative sampling technique.
With $7.10 million in assets under management (AUM), IDAT's top holding is NVIDIA Corporation (<a href="https://stocknews.com/stock/NVDA/">NVDA</a>) with a 5.18% weighting, followed by Broadcom Inc. (<a href="https://stocknews.com/stock/AVGO/">AVGO</a>), with a 3.79% weighting, and Arista Networks, Inc. (<a href="https://stocknews.com/stock/ANET/">ANET</a>), with 3.39%. It has a total of 49 holdings.
It has an expense ratio of 0.47%, lower than the category average of 0.58%. It currently has a <a href="https://www.investopedia.com/terms/n/nav.asp">NAV</a> of $29.19.
The fund's annual dividend of $0.25 yields 0.85% on the current share price. Its four-year average yield is 0.62%.
IDAT has gained 13.3% over the past nine months and 5.6% year-to-date to close the last trading session at $29.12.
IDAT's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this promising outlook. The ETF's overall B rating equates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
IDAT has a B grade for Buy &amp; Hold and Trade. Of the 119 ETFs in the <a href="https://stocknews.com/category/technology-equities-etfs/">Technology Equities ETFs</a> group, it is ranked #47. <a href="https://stocknews.com/stock/IDAT/">Click here</a> to access all of IDAT's POWR Ratings.
ETF #1: First Trust Cloud Computing ETF (<a href="https://stocknews.com/stock/SKYY/">SKYY</a>)
SKYY is an exchange-traded fund launched and managed by First Trust Advisors LP. The fund invests in public equity markets, targeting companies in information technology, software, IT and internet services, infrastructure, data management, storage, hardware, and platforms for software creation via virtualization or middleware delivered online. It invests in both growth and value stocks across diversified market capitalizations and seeks to track the performance of the ISE CTA Cloud Computing Index using a full replication technique.
With $2.87 billion in AUM, the fund has a total of 64 holdings. SKYY's top holding is Oracle Corporation (<a href="https://stocknews.com/stock/ORCL/">ORCL</a>) with a 4.57% weighting, followed by International Business Machines Corporation (<a href="https://stocknews.com/stock/IBM/">IBM</a>) with a 4.56% weighting, and Nutanix, Inc. Class A (<a href="https://stocknews.com/stock/NTNX/">NTNX</a>) with 4.27%.
SKYY has an expense ratio of 0.60%, higher than the category average of 0.58%. It currently has a NAV of $94.54. Its fund outflows came in at $38.02 million over the past month.
SKYY has gained 13.5% over the past nine months and 16.9% over the past year to close the last trading session at $94.58.
SKYY's strong outlook is reflected in its POWR Ratings. The ETF has an overall rating of A, translating to a Strong Buy in our proprietary rating system.
It has an A grade for Buy &amp; Hold, Peer, and Trade. It is ranked #4 in the same group. To access all the POWR Ratings for SKYY, <a href="https://stocknews.com/stock/SKYY/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
SKYY shares were trading at $95.91 per share on Wednesday afternoon, up $1.33 (+1.41%). Year-to-date, SKYY has gained 9.40%, versus a 16.49% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/skyy-idat-2-cloud-computing-etfs-to-buy-as-digital-transformation-accelerates/>2 Cloud Computing ETFs to Buy as Digital Transformation Accelerates</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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First Trust Cloud Computing ETF

Overview

First Trust Cloud Computing ETF (NASDAQ:SKYY), Quote.Headers.trade-ideas