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Tech Stocks Pushing the Industry Higher

Strategic Insights

— 2 min read

The Computer Software & Services industry is experiencing a boost in the stock market today, with several prominent companies contributing to the growth. At the forefront of this movement are Salesforce.com, Inc., Activision Blizzard, Inc., and Adobe Systems Incorporated, all trading up on Monday, October 12, 2015.

Salesforce.com, Inc. is leading the charge with a 0.6% increase to $75.69, pushing its revenue growth, solid stock price performance, and compelling growth in net income. Activision Blizzard, Inc. is following closely behind with a 1.9% gain to $32.68, attributed to its revenue growth, solid stock price performance, and reasonable valuation levels. Adobe Systems Incorporated is also seeing a boost with a 1.0% increase to $84.65, driven by its revenue growth, solid financial position, and compelling growth in net income.

These three companies are within the Computer Software & Services industry, which is currently down 0.4% versus the S&P 500, up 1.8%. However, with the performance of these three stocks, the industry may start to trend upwards.

Key Takeaways:

  • Salesforce.com, Inc. is up 1.1% to $75.69 on light volume, driven by revenue growth, solid stock price performance, and compelling growth in net income.
  • Activision Blizzard, Inc. is up $0.61 (1.9%) to $32.68 on light volume, attributed to revenue growth, solid stock price performance, and reasonable valuation levels.
  • Adobe Systems Incorporated is up $0.83 (1.0%) to $84.65 on light volume, driven by revenue growth, solid financial position, and compelling growth in net income.
  • The three companies are within the Computer Software & Services industry, which is down 0.4% versus the S&P 500, up 1.8%.
  • Currently, there are 26 analysts who rate Salesforce.com a buy, 1 analyst rates it a sell, and 3 rate it a hold.
  • There are 14 analysts who rate Activision Blizzard a buy, no analysts rate it a sell, and 1 rates it a hold.
  • There are 9 analysts who rate Adobe Systems a buy, no analysts rate it a sell, and 4 rate it a hold.
  • All three companies have a strong presence in the tech sector, with market caps of $49.6 billion, $23.1 billion, and $41.0 billion, respectively.

Statistics:

  • Salesforce.com has a revenue growth of 29.1% in the last year.
  • Activision Blizzard has a revenue growth of 15.6% in the last year.
  • Adobe Systems has a revenue growth of 18.2% in the last year.
  • Salesforce.com has a market cap of $49.6 billion.
  • Activision Blizzard has a market cap of $23.1 billion.
  • Adobe Systems has a market cap of $41.0 billion.
  • Salesforce.com is up 26.9% year-to-date.
  • Activision Blizzard is up 59.2% year-to-date.
  • Adobe Systems is up 15.3% year-to-date.

Sources:

  • "TheStreet Wire" - TheStreet.com
  • Salesforce.com (CRM) - Thomson Reuters
  • Activision Blizzard (ATVI) - Thomson Reuters
  • Adobe Systems (ADBE) - Thomson Reuters
  • iShares S&P NA Tech Software Idx (IGV) - Thomson Reuters
  • ProShares Ultra Short Technology (REW) - Thomson Reuters

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