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Datadog

Datadog is a cloud-native company that focuses on analyzing machine data. The firm's product portfolio, delivered via software as a service, allows a client to monitor and analyze its entire IT infrastructure. Datadog's platform can ingest and analyze large amounts of machine-generated data in real time, allowing clients to utilize it for a variety of applications throughout their businesses.

Datadog Inc

UBS analyst Michael Lasser maintains Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) with a Neutral and raises the price target from $42 to $44.

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Analyst Ratings

UBS Maintains Neutral on Advance Auto Parts, Raises Price Target to $44

The United States has agreed to provide up to $6.6 billion in direct funding to Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) to build advanced chip facilities in the U.S.
The deal aims to enhance domestic semiconductor production and bolster national security by reducing reliance on foreign suppliers, Barron's <a target="_blank" href="https://www.barrons.com/news/us-finalizes-up-to-6-6-bn-funding-for-chip-giant-tsmc-65252814" rel="noreferrer noopener">reports</a>.
The Biden administration announced that Taiwan Semiconductor's investment will attract $65 billion in private capital to establish three state-of-the-art plants in Arizona.
Also Read: <a target="_blank" href="https://www.benzinga.com/tech/24/11/41978712/asml-projects-revenue-surge-to-63-billion-by-2030-eyes-ai-and-chip-market-boom" rel="noreferrer noopener">ASML Projects Revenue Surge to $63 Billion by 2030, Eyes AI and Chip Market Boom</a>
The announcement comes just before President-elect Donald Trump assumes office. Trump had previously attacked Taiwan for allegedly undermining the U.S. chip industry and <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41845483/taiwan-semiconductor-us-expansion-plans-unfazed-by-trump-win-report" rel="noreferrer noopener">criticized the U.S. Chips Act</a>.
The first of Taiwan Semiconductor's facilities will likely commence operations by early 2025, focusing on producing cutting-edge logic chips. These chips will power next-generation technologies, including 5G/6G smartphones, autonomous vehicles, and AI applications.
Early production at the Arizona plant reportedly matches the quality of Taiwan Semiconductor's facilities in Taiwan, showcasing <a target="_blank" href="https://www.benzinga.com/government/24/10/41545709/usa-scores-big-win-taiwan-semiconductor-arizona-plant-sees-good-production-yields" rel="noreferrer noopener">strong initial yields</a>.
Commerce Secretary Gina Raimondo told Barron's the importance of manufacturing these advanced chips domestically, emphasizing their role in AI, quantum computing, and military hardware.
The initiative aims to mitigate risks associated with overseas supply chains by producing these chips on U.S. soil, addressing a critical national security concern.
In addition to the direct funding, the U.S. government is extending up to $5 billion in proposed loans to support Taiwan Semiconductor's Arizona project.
The investment will likely generate approximately 6,000 direct manufacturing jobs. A senior U.S. official told Barron's that at least $1 billion of the allocated funding could be distributed to Taiwan Semiconductor this year, contingent on meeting specific milestones.
Meanwhile, Taiwan Semiconductor remains focused on consolidating its moat while diversifying its footprint beyond Taiwan as global governments dole out attractive subsidies.
The contract chipmaker has <a target="_blank" href="https://www.benzinga.com/markets/emerging-markets/24/11/41951575/taiwan-semi-boosts-advanced-chipmaking-with-record-euv-expansion-grabs-56-global-share" rel="noreferrer noopener">ramped up its</a> deployment of extreme ultraviolet (EUV) lithography systems, a vital technology in semiconductor production, even with the substantial expense involved.
Each EUV machine costs more than $100 million, making them some of the most costly assets in the chip manufacturing sector.
Industry analysts suggest that TSMC has significantly boosted its EUV capacity, increasing its share of global EUV installations from 50% in 2020 to 56% by 2023.
In Asia, Japan has also earmarked over $64.9 billion to <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41939018/japan-increases-semiconductor-funding-as-us-trade-policies-pressure-taiwan-semiconductor" rel="noreferrer noopener">boost the semiconductor and AI</a> sectors. Taiwan Semiconductor is eyeing a second facility in Japan's Kumamoto region, considering a $13.5 billion investment after its first $8.6 billion wafer factory there.
Additionally, the company intends to establish a third advanced chip plant valued at $20 billion in Kumamoto to produce 3-nanometer chips.
Taiwan Semiconductor stock is up 86% year-to-date.
Price Actions: TSM stock is down 1.21% at $186.23 at the last check on Friday.
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<li><a href="https://www.benzinga.com/news/management/24/11/41978942/salesforce-ceo-marc-benioff-bets-big-on-billion-bots" target="_blank" rel="noreferrer noopener">Salesforce CEO Marc Benioff Bets Big on Billion Bots</a></li>
</ul>
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Government

Regulations

Tech

Media

Just Before Biden's Term Ends, Taiwan Semiconductor Lands $6.6 Billion in US Funding to Build Advanced Chip Plants

Truist Securities analyst Michael Lewis maintains American Healthcares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHR#NYSE">AHR</a>) with a Buy and raises the price target from $27 to $29.

Truist Securities Maintains Buy on American Healthcares, Raises Price Target to $29

Benchmark analyst Fawne Jiang reiterates Alibaba Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) with a Buy and maintains $118 price target.

Reiteration

BABA

Benchmark Reiterates Buy on Alibaba Gr Hldgs, Maintains $118 Price Target

<a href="https://www.bloomberg.com/news/articles/2024-11-15/xi-warns-against-going-back-in-history-as-trump-tariffs-loom">https://www.bloomberg.com/news/articles/2024-11-15/xi-warns-against-going-back-in-history-as-trump-tariffs-loom</a>
Chinese President Xi Jinping warned against any efforts to unwind globalization in his first major remarks since Donald Trump won the US presidential election after threatening to impose tariffs as high as 60% on the world's second-biggest economy.

Macro Economic Events

Economics

"Xi Warns Against 'Going Back in History' as Trump Tariffs Loom" - Bloomberg News

Truist Securities analyst Scott Ciccarelli maintains Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) with a Hold and lowers the price target from $41 to $39.

Truist Securities Maintains Hold on Advance Auto Parts, Lowers Price Target to $39

Benchmark analyst Michael Albanese reiterates OneWater Marine (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONEW#NASDAQ">ONEW</a>) with a Hold.

ONEW

Benchmark Reiterates Hold on OneWater Marine

In a move likely to lighten the load for thousands of retirees in Florida, the state has introduced a new COLA to its property tax exemptions to help seniors cope with <a href="https://www.benzinga.com/real-estate/24/06/39229358/u-s-home-prices-surge-50-jump-in-five-years">rising housing costs</a>.&nbsp;
Currently, eligible homeowners receive two $25,000 exemptions, reducing the taxable value of their primary residence by up to $50,000. With this amendment, the second $25,000 exemption will now grow yearly to mirror inflation – much like Social Security's COLA increase.&nbsp;
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<li>This company is giving accredited investors an opportunity to invest in this $2 billion fund, <a href="https://www.benzinga.com/money/ignite-funding">with three decades in business they boast an impressive track record of double-digit returns.</a></li>
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For retirees feeling the pinch of inflated grocery, health care and utility costs, this tweak could mean real savings that help make ends meet.
Beginning Jan. 1, 2025, Florida&#8217;s homestead exemption – a property tax break on primary homes – will include an inflation-linked increase. In effect, the state will adjust part of the exemption amount annually to keep up with inflation, much like Social Security annually receives a COLA boost.&nbsp;
Trending: During market downturns, investors are learning that unlike equities, these<a href="https://www.benzinga.com/money/connect-invest-real-estate-notes"> high-yield real estate notes that pay 7.5% &#8211; 9% are protected by resilient assets, buffering against losses.</a>
By pegging this exemption to inflation, retirees will be protected against property tax increases, which can otherwise eat away at home equity and monthly budgets. The impact of such a policy can be huge. For example, the income limits for eligibility to exemptions rose 4.1% in 2024, widening the reach of the benefit and bringing more retirees under its umbrella.&nbsp;
Supporters see the amendment as a lifeline, especially in a state like Florida, where retirees comprise a significant portion of the population.&nbsp;
The passage of Amendment No. 5 was fueled in part by Florida's rapidly increasing housing costs. Housing prices in the state have shot up in recent years and property taxes that match these prices can quickly become untenable for those on fixed incomes.
See Also: This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.
On the flip side, not all Florida residents stand to benefit. Property tax relief remains out of reach for <a href="https://www.benzinga.com/real-estate/24/09/40669305/your-landlord-might-be-raising-rent-using-algorithms-and-kamala-harris-plans-to-ban-it-will-she-succ">landlords</a>, for instance, who don't qualify for the exemption. Moreover, some experts fear that as property tax revenue dips, the financial burden might eventually be shifted to nonexempt residents.
Florida's homestead exemption only applies to primary residences, meaning a property must serve as a person's permanent home to qualify for this exemption.&nbsp;
Amendment No. 5 includes a carve-out for schools, ensuring they won't see a dip in property tax revenue due to the new policy. However, all other local governments, such as fire departments and utilities, may need to make up for the shortfall in other ways.
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<li>These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a></li>
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Real Estate

Florida Just Introduced A Property Tax COLA For Retirees – How This Boost Could Ease Housing Costs For Thousands

Truist Securities analyst David Macdonald maintains AdaptHealth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AHCO#NASDAQ">AHCO</a>) with a Buy and lowers the price target from $13 to $12.

AHCO

Truist Securities Maintains Buy on AdaptHealth, Lowers Price Target to $12

Benchmark analyst Josh Sullivan reiterates Ultralife (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULBI#NASDAQ">ULBI</a>) with a Buy and maintains $14 price target.

ULBI

Benchmark Reiterates Buy on Ultralife, Maintains $14 Price Target

<a href="https://www.reuters.com/world/europe/germanys-scholz-russias-putin-hold-phone-call-friday-bloomberg-reports-2024-11-15/" title="https://www.reuters.com/world/europe/germanys-scholz-russias-putin-hold-phone-call-friday-bloomberg-reports-2024-11-15/">https://www.reuters.com/world/europe/germanys-scholz-russias-putin-hold-phone-call-friday-bloomberg-reports-2024-11-15/</a>

Macro Notification

General

Putin And Germany's Scholz Hold Phone Call Initiated By Germany, Discuss Ukraine And Middle East; Putin Emphasizes Openness To Ukraine Talks, Notes Degradation In Russia-Germany Relations, And Stresses Security And Territorial Concerns

U.S. stocks were lower, with the Dow Jones index falling around 300 points on Friday.
Shares of Despegar.com, Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DESP#NYSE">DESP</a>) rose sharply during Friday's session after the company reported <a href="https://www.benzinga.com/quote/DESP/earnings">better-than-expected third-quarter sales.</a>
The company said it sees FY24 revenue of at least $760 million and adjusted EBITDA of at least $170 million
Despegar.com shares jumped 19.1% to $17.70 on Friday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Bloom Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) shares jumped 43% to $18.98. Bloom Energy announced a 1 GW fuel cell deal with AEP, providing clean power for AI Data Centers.</li>
<li>Red Cat Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>) gained 22.3% to $4.9200.</li>
<li>Intuitive Machines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) gained 13% to $11.56. The company reported third-quarter results on Thursday.</li>
<li>Century Aluminum Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) rose 12.6% to $23.77.</li>
<li>COMPASS Pathways plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPS#NASDAQ">CMPS</a>) jumped 12.5% to $5.50.</li>
<li>Lifeway Foods, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) gained 11% to $24.85. The company reported quarterly results on Thursday.</li>
<li>Kingsoft Cloud Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) rose 10.3% to $5.13. Kingsoft Cloud Holdings will release its unaudited financial results for the third quarter before the open of U.S. markets on Tuesday, Nov. 19.</li>
<li>Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) gained 7.7% to $44.40.</li>
<li>Zai Lab Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZLAB#NASDAQ">ZLAB</a>) shares rose 6.3% to $28.34. The company priced a $200 million public offering of 7,843,137 shares at $25.50 per ADS.</li>
<li>Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) gained 6% to $62.72 after the company announced it will transfer its stock exchange listing over to the Nasdaq.</li>
<li>The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) rose 3% to $112.38. The company reported quarterly results on Thursday.</li>
</ul>
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</ul>

Earnings

Markets

Movers

Trading Ideas

CENX

CMPS

DESP

LUNR

LWAY

PLTR

RCAT

ZLAB

Despegar.com, Zai Lab, Bloom Energy And Other Big Stocks Moving Higher On Friday

Options

DKNG

DraftKings Option Alert: Dec 20 $42 Calls At The Ask: 2000 @ $0.89 Vs 1254 OI; Ref=$39.23

WIIM

BNTX

MRNA

NVAX

VALN

Shares of vaccine stocks are trading lower After President-elect Trump nominated Robert F. Kennedy Jr. to lead the HHS.

Prime Minister Keir Starmer is seeking to meet with China&#39;s Xi Jinping at next week&#39;s Group of 20 summit in Rio de Janeiro, in what would be the first face-to-face encounter between British and Chinese leaders in almost seven years.&nbsp;
<a href="https://www.bloomberg.com/news/articles/2024-11-15/uk-s-starmer-seeks-xi-meeting-at-g-20-summit-in-rio-de-janeiro" title="https://www.bloomberg.com/news/articles/2024-11-15/uk-s-starmer-seeks-xi-meeting-at-g-20-summit-in-rio-de-janeiro">https://www.bloomberg.com/news/articles/2024-11-15/uk-s-starmer-seeks-xi-meeting-at-g-20-summit-in-rio-de-janeiro</a>

'UK's Starmer Seeks Xi Meeting at G-20 Summit in Rio de Janeiro' - Bloomberg

Wells Fargo analyst Eric Luebchow maintains Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) with a Overweight and raises the price target from $200 to $215.

Wells Fargo Maintains Overweight on Dycom Industries, Raises Price Target to $215

Benchmark analyst Bill Sutherland reiterates HeartBeam (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAT#NASDAQ">BEAT</a>) with a Speculative Buy and maintains $8 price target.

BEAT

Benchmark Reiterates Speculative Buy on HeartBeam, Maintains $8 Price Target

Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) has dramatically increased its exposure to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETFs, according to its latest 13F filing with the U.S. Securities and Exchange Commission (SEC), reflecting growing <a href="https://www.benzinga.com/24/11/42009965/vaneck-ceo-boldly-predicts-bitcoin-at-300k-per-coin-reaching-half-of-golds-market-cap-in-the-face-of-growing-demand">institutional interest in digital assets.</a>
What Happened: The Wall Street powerhouse <a href="https://www.sec.gov/edgar/search/#/q=Bitcoin&amp;dateRange=custom&amp;category=custom&amp;entityName=Goldman%2520Sachs&amp;startdt=2024-11-14&amp;enddt=2024-11-14&amp;forms=13F-HR">disclosed</a> $710 million invested across multiple Bitcoin exchange-traded funds (ETFs) for the quarter ending September 30. A 13F filing is a quarterly report required by the SEC for institutional investors managing over $100 million in assets.
<h3 class="wp-block-heading">Major Holdings in BlackRock's Bitcoin Trust</h3>
The filing highlights Goldman Sachs&#8217; significant stake in BlackRock's iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>), with 12.7 million shares valued at $461 million. 
This marks an 83% increase from its August holdings of 6.9 million shares, then valued at $281 million, and solidifies Goldman's position as the second-largest holder of IBIT, trailing only Millennium Management, which leads with $844 million in holdings.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42007247/bitcoin-dogecoin-success-driven-by-narrative-and-momentum-report-argues">Bitcoin, Dogecoin Success Driven By &#8216;Narrative And Momentum,&#8217; Report Argues</a>
<h3 class="wp-block-heading">Diversifying Bitcoin ETF Investments</h3>
Goldman also boosted its positions in other prominent Bitcoin ETFs. Notable increases include:
<ul>
<li>Fidelity's Wise Origin Bitcoin ETF (CBOE: FBTC): 1.7 million shares worth $95.5 million, a 13% rise.</li>
<li>Grayscale Bitcoin Trust (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#OTC">GBTC</a>): 1.4 million shares valued at $71.8 million, a 116% increase.</li>
<li>Bitwise Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>): 650,961 shares worth $22.5 million, marking a 156% rise.</li>
</ul>
The bank also reported smaller stakes in Bitcoin ETFs offered by Invesco Galaxy, WisdomTree and ARK 21Shares.
<h3 class="wp-block-heading">Institutional Confidence In A Booming Market</h3>
Goldman's expanded investments coincide with record inflows into <a href="https://www.benzinga.com/24/11/41869353/massive-day-for-blackrocks-bitcoin-etf-as-trading-volume-reaches-unseen-levels-with-4-1-billion-traded">spot Bitcoin ETFs.</a> BlackRock's IBIT recently surpassed the iShares Gold ETF (IAU) in net assets, an impressive milestone considering IBIT's launch occurred just this January.
The rising momentum aligns with broader market optimism for a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41770352/bitcoins-future-under-president-elect-donald-trump-a-look-at-his-crypto-policies">pro-crypto regulatory environment</a> under the incoming Trump administration, which has pledged support for crypto mining and a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41986427/pennsylvania-introduces-bitcoin-strategic-reserve-act-to-invest-up-to-700-million-in-btc">national Bitcoin reserve</a>.
Goldman's aggressive moves into Bitcoin ETFs underscore the shifting landscape for digital assets, signaling increasing institutional adoption of cryptocurrency as a mainstream asset class.
To explore these developments further, Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19 offers in-depth insights into the evolving crypto investment landscape.
Read Next: 
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Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Bitwise Bitcoin ETF Common Shares of Beneficial Interest

BITB

Fidelity Wise Origin Bitcoin Fund Fidelity Wise Origin Bitcoin Fund

FBTC

GBTC

IBIT

Goldman Sachs Expands Bitcoin ETF Holdings To $710 Million

Benchmark analyst Fawne Jiang reiterates JD.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) with a Buy and maintains $47 price target.

Benchmark Reiterates Buy on JD.com, Maintains $47 Price Target

Jeffrey T Diehl, Director at Paylocity Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCTY#NASDAQ">PCTY</a>), executed a substantial insider sell on November 14, according to an SEC filing.
What Happened: Diehl's decision to sell 36,133 shares of Paylocity Holding was revealed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001591698/000159169824000334//Archives/edgar/data/1591698/000159169824000334/0001591698-24-000334-index.htm">U.S. Securities and Exchange Commission</a> on Thursday. The total value of the sale is $7,674,132.
The latest market snapshot at Friday morning reveals Paylocity Holding shares down by 0.3%, trading at $204.89.
<h3>All You Need to Know About Paylocity Holding</h3>
Paylocity is a provider of payroll and human capital management solutions servicing small- to midsize clients in the United States. The company was founded in 1997 and targets businesses with 10-5,000 employees and services about 39,000 clients as of fiscal 2024. Alongside core payroll services, Paylocity offers HCM solutions such as time and attendance and recruiting software as well as workplace collaboration and communication tools.
<h3>Unraveling the Financial Story of Paylocity Holding</h3>
Negative Revenue Trend: Examining Paylocity Holding's financials over 3 months reveals challenges. As of 30 September, 2024, the company experienced a decline of approximately -12.5% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Industrials sector.
Profitability Metrics: Unlocking Value
<ul>
<li>
Gross Margin: The company excels with a remarkable gross margin of 68.05%, indicating superior cost efficiency and profitability compared to its industry peers.
</li>
<li>
Earnings per Share (EPS): Paylocity Holding's EPS lags behind the industry average, indicating concerns and potential challenges with a current EPS of 0.62.
</li>
</ul>
Debt Management: With a below-average debt-to-equity ratio of 0.34, Paylocity Holding adopts a prudent financial strategy, indicating a balanced approach to debt management.
Assessing Valuation Metrics:
<ul>
<li>
Price to Earnings (P/E) Ratio: With a lower-than-average P/E ratio of 61.16, the stock indicates an attractive valuation, potentially presenting a buying opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: With a relatively high Price to Sales ratio of 8.65 as compared to the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Boasting an EV/EBITDA ratio of 34.77, Paylocity Holding demonstrates a robust market valuation, outperforming industry benchmarks.
</li>
</ul>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
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<h3>Delving Into the Significance of Insider Transactions</h3>
Insightful as they may be, insider transactions should be considered alongside a thorough examination of other investment criteria.
From a legal standpoint, the term "insider" pertains to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as outlined in Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and significant hedge funds. These insiders are mandated to inform the public of their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
A company insider's new purchase is a indicator of their positive anticipation for a rise in the stock.
While insider sells may not necessarily reflect a bearish view and can be motivated by various factors.
<h3>A Closer Look at Important Transaction Codes</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates grant, award or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001591698">Check Out The Full List Of Paylocity Holding's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

PCTY

Paylocity Holding Director Trades $7.67M In Company Stock

Datadog: Best-In-Class Efficiency And AI Tailwinds

In a report released today, Patrick Colville from Scotiabank reiterated a Buy rating on Datadog (DDOG – Research Report), with a price target of $1...

New Buy Rating for Datadog (DDOG), the Technology Giant

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Canaccord Genuity analyst Kingsley Crane maintained a Buy rating on Datadog (DDOG – Research Report) yesterday and set a price target of $150.00. K...

Datadog's Strategic Positioning and Financial Strength Drive Positive Market Outlook

Scotiabank lowered the firm's price target on Datadog (DDOG) to $133 from $135 and keeps an Outperform rating on the shares. The company reported a...

Datadog price target lowered to $133 from $135 at Scotiabank

In a report released on November 8, Gray Powell from BTIG maintained a Buy rating on Datadog (DDOG – Research Report), with a price target of $149....

Datadog (DDOG): New Buy Recommendation for This Technology Giant

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In a report released today, Kirk Materne from Evercore ISI maintained a Buy rating on Datadog (DDOG – Research Report), with a price target of $155...

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Datadog's Strong Market Position and Growth Potential: A Buy Rating by Saiyi HE

As businesses embrace digital transformation, the cloud computing market is set for explosive growth, fueled by emerging trends like AI integration, multi-cloud environments, and expanding IoT applications. So, investors looking to capitalize on this booming sector should consider investing in stocks like Workday (WDAY), Datadog (DDOG), and Okta (OKTA), which are poised to thrive in the evolving cloud landscape. Keep reading... The cloud computing industry is experiencing unprecedented growth, driven by advancements in multi- and hybrid cloud environments, artificial intelligence (AI), and the Internet of Things (IoT). As businesses increasingly rely on secure, scalable, and efficient cloud solutions, key players like Workday, Inc. (<a href="https://stocknews.com/stock/WDAY/">WDAY</a>), Datadog, Inc. (<a href="https://stocknews.com/stock/DDOG/">DDOG</a>), and Okta, Inc. (<a href="https://stocknews.com/stock/OKTA/">OKTA</a>) are emerging as leaders in this transformative space. As the cloud industry continues to evolve and expand, these stocks represent strong contenders for explosive growth in the coming years.
The cloud computing industry is undergoing a transformation fueled by emerging trends like the adoption of multi- and hybrid cloud environments, the integration of artificial intelligence (AI), and the rapid expansion of the Internet of Things (IoT). These advancements are redefining how businesses operate and scale. With the global public cloud market projected to grow at a <a href="https://www.statista.com/outlook/tmo/public-cloud/worldwide">CAGR of 18.5%</a> between 2024 and 2029, reaching a market value of $1.8 trillion, the potential for investors is substantial.
Further, IDC projects that cloud infrastructure spending will increase at a double-digit rate, reaching <a href="https://www.idc.com/getdoc.jsp?containerId=prUS52398324">$213.7 billion by 2028</a>, underscoring the growing importance of cloud technology. As organizations become more reliant on the cloud, software security is essential to safeguard systems, manage access control, and defend against emerging threats. The security software market is expected to expand at a <a href="https://www.maximizemarketresearch.com/market-report/global-security-software-market/23958/">CAGR of 13.9%</a> from 2024 to 2030, with its value approaching $58.6 billion.
Let's take a closer look at three cloud computing stocks poised for remarkable growth in the years ahead.
Workday, Inc. (<a href="https://stocknews.com/stock/WDAY/">WDAY</a>)
WDAY develops enterprise cloud applications focused on financial management, spend management, human capital management, planning, analytics, and supply chain solutions. These products serve diverse industries, including finance, healthcare, education, government, technology, media, retail, and hospitality.
WDAY's revenue has grown at a CAGR of 18.9% over the past three years and its <a href="https://www.investopedia.com/terms/e/ebitda.asp">EBITDA</a> has risen at a CAGR of 49.6% over the same time frame.
On November 14, 2024, WDAY partnered with Syssero, Inc., gaining access to enhanced resources to provide customized services that align with WDAY's commitment to delivering value.
On November 4, 2024, WDAY and Compa partnered to integrate Compa's real-time market intelligence into Workday's platform, enabling companies to make data-driven pay decisions to attract and retain top talent. This collaboration offers Workday customers a strategic advantage in today's competitive labor market.
During the fiscal second quarter that ended July 31, 2024, WDAY's total revenues increased 16.7% year-over-year to $2.09 billion. Its non-GAAP operating income grew 23% from the year-ago value to $518 million. In addition, the company's net income and non-GAAP net income per share came in at $132 million and $1.75, up 67.1% and 22.4% over the prior-year quarter, respectively.
Analysts expect WDAY's EPS and revenue for the quarter ended October 31, 2024, to increase 14.9% and 14.2% year-over-year to $1.76 and $2.13 billion, respectively. It surpassed the Street EPS and revenue estimates in each of the trailing four quarters, which is promising.
Over the past year, the stock has gained 16.8% to close the last trading session at $271.49. It has surged 10% over the past six months.
WDAY's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The stock has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
WDAY has an A in Growth and a B grade in Sentiment and Quality. It is ranked #30 out of 129 stocks in the <a href="https://stocknews.com/category/software-application/">Software - Application</a> industry.
Beyond what we have stated above, we also have given WDAY grades for Stability, Value, and Momentum. Get all the WDAY's ratings <a href="https://stocknews.com/stock/WDAY/">here</a>.
Datadog, Inc. (<a href="https://stocknews.com/stock/DDOG/">DDOG</a>)
DDOG provides a comprehensive observability and security platform designed for cloud applications, offering products such as infrastructure monitoring, application performance tracking, log management, security monitoring, incident management, and workflow automation.
DDOG's revenue and levered free cash flow have grown at a CAGR of 42.3% and 56.5% over the past three years.
On November 12, 2024, DDOG introduced Kubernetes Active Remediation, enhancing its automated troubleshooting features to offer Kubernetes users curated guidance, best practices, and comprehensive issue management directly within Datadog's platform. This addition empowers customers to quickly identify, understand, and resolve issues for faster, streamlined operations.
In the fiscal third quarter ended September 30, 2024, DDOG's revenues increased 26.0% year-over-year to $690.02 million. Its non-GAAP operating income grew 32.3% from the year-ago value to $173.02 million. Moreover, its non-GAAP net income after tax adjustments and net income per share stood at $165.74 million and $0.46, respectively, representing increases of 31% and 27.8% over the prior-year quarter.
Street expects DDOG's revenue for the quarter ending December 31, 2024, to increase 21.0% year-over-year to $713.72 million. Its EPS for the same quarter is likely to be $0.43. It surpassed the consensus EPS and revenue estimates in all the trailing four quarters.
The stock climbed 8.3% year-to-date and 20.6% over the past year, to close the last trading session at $131.43.
DDOG's POWR Ratings reflect strong prospects. It has an A grade for Growth and a B for Sentiment and Quality. It is ranked #16 out of 39 stocks in the <a href="https://stocknews.com/category/software-business/">Software - Business</a> industry.
To access DDOG's Stability, Value and Momentum ratings, click <a href="https://stocknews.com/stock/DDOG/">here</a>.
Okta, Inc. (<a href="https://stocknews.com/stock/OKTA/">OKTA</a>)
OKTA provides identity and access management solutions to secure identities for organizations globally. Its product suite includes Single Sign-On, Adaptive Multi-Factor Authentication, API Access Management, and other tools that enable secure, streamlined access across cloud, mobile, and on-premises environments.
OKTA's revenue and levered free cash flow have grown at a CAGR of 34% and 19.9% over the past three years.
OKTA's total revenue increased 16.2% year-over-year to $646 million in the fiscal 2025 second quarter that ended on July 31, 2024. Its non-GAAP operating income came in at $148 million, up 150.8% year-over-year. Moreover, its non-GAAP net income and net income per share stood at $131 million and $0.72, respectively, representing increases of 133.9% and 132.3% over the prior-year quarter.
Street expects OKTA's revenue for the fiscal third quarter (ending October 2024) to increase 11.2% year-over-year to $649.64 million. Its EPS for the same quarter is expected to grow 32.7% from the prior year to $0.58. In addition, it surpassed the consensus EPS and revenue estimates in each of the trailing four quarters.
Shares of OKTA have gained 9.6% over the past year to close the last trading session at $76.93.
OKTA's bright prospects are apparent in its POWR Ratings. It has a B grade for Growth. Within the B-rated <a href="https://stocknews.com/category/software-security/">Software - Security</a> industry, it is ranked #10 out of 20 other stocks.
Click <a href="https://stocknews.com/stock/OKTA/">here</a> to see OKTA's ratings for Value, Momentum, Stability, Sentiment, and Quality.
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WDAY shares were unchanged in premarket trading Friday. Year-to-date, WDAY has declined -1.66%, versus a 26.01% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/wday-ddog-okta-3-cloud-computing-stocks-positioned-for-explosive-growth/>3 Cloud Computing Stocks Positioned for Explosive Growth</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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