Cloud Computing, Cloud Services Stocks Up 21% Since January
Cloud computing and cloud services stocks rose 2 percent for the week ending May 25, and our Talkin’ Cloud Stocks Index is now up 20.74% since the start of 2012.
- Concur Technologies (CNQR, +8.54%): The provider of SaaS-based business travel services is trading near a 52-week high after delivering strong quarterly results in early May.
- SolarWinds (SWI, +8.24%): The provider of data center monitoring and systems management software is going head-on against Microsoft Systems Center in the market, and investors apparently applaud the move. SolarWinds shares are trading near a 52-week high.
- NetSuite (N, +7.49%): The provider of SaaS-based ERP (enterprise resource planning) software didn’t announce any major news. But NetSuite did host a successful partner and customer conference earlier this month in San Francisco.
The biggest weekly losers in our Talkin’ Cloud Stocks Index were:
- CommVault (CVLT, -5.90%): The storage provider didn’t announce any major news, but shares likely slipped because another storage specialist — NetApp — delivered disappointing earnings.
- Carbonite (CARB, -5.42%): The online backup and cloud storage provider also didn’t announce any major news, but Carbonite shares have been very volatile in 2012 as investors weigh growth opportunities vs. marketing and business development costs.
Overall, cloud computing and cloud services stocks have been weak so far in Q2 2012 after enjoying tremendous momentum in Q1 2012.