These Tech Stocks Are Trending So Far This Week.
After a tumultuous month, tech stocks appear to be back in demand. After all, the tech-laden Nasdaq composite gained by over 5% last week. This is likely thanks to a broader “buy on the dip” movement as investors flock to attractively valued stocks. Some investors would even say that the recent tech selloffs would be a positive development given the high valuations on the market. Nevertheless, with the industry continuously innovating there is no shortage of tech news to send investors flocking towards the top tech stocks now.
Take CrowdStrike (NASDAQ: CRWD) for instance. The leading cybersecurity company is in a constant battle against growing cyberthreats. Earlier this month, the company acquired cloud log management and observability tech company, Humio. No doubt, CrowdStrike appears keen on expanding its portfolio to offer more preventative measures to its clients. Elsewhere, news broke earlier today that Microsoft (NASDAQ: MSFT) would be partnering up with major telecom player Nokia (NYSE: NOK). Through this deal, the duo is hoping to create 4G and 5G private wireless solutions for enterprise use. Whatever way you look at it, there is plenty of new technology driving progress in our growingly digital world today. Could one of these top tech stocks to watch be worth investing in now?
Top Tech Stocks To Buy [Or Sell] This Week
- TripAdvisor Inc. (NASDAQ: TRIP)
- Elastic NV (NYSE: ESTC)
- JFrog Limited (NASDAQ: FROG)
- Baidu Inc. (NASDAQ: BIDU)
TripAdvisor Inc.
Starting us off is online travel company TripAdvisor. In brief, the company runs the largest travel guidance platform in the world. Thanks to its services, tourists around the globe can research and compare vacation destinations posted by hosts. After doing so, TripAdvisor can also help its users make hotel reservations and book holiday experiences. Aside from that, the company also employs its TripAdvisor Insights platform to empower the tourism industry. Just last month, TripAdvisor launched a live data intelligence dashboard that helps hosts track overall traveler sentiment regarding their offerings. If anything, TripAdvisor would stand to benefit from a post-pandemic surge in tourism. This would explain why TRIP stock has more than doubled in value year-to-date.
If that wasn’t enough, TripAdvisor also revealed a major expansion for its TripAdvisor Plus membership program, last week. In detail, the company is allowing hotels to participate directly in the subscription service. By becoming a TripAdvisor Plus hotel, businesses will receive special badges and increased visibility on the company’s platforms. Not only will this help said hosts to increase bookings, but it also creates an incentive to partner directly with the company. Above all, it seems that TripAdvisor is set on preparing its travel partners with all the right tools to facilitate the incoming tourism boom. Could this make TRIP stock worth watching right now?
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Elastic NV
Another top tech company making waves now would be Elastic. For some context, the search tech company offers self-managed and Software-as-a-Service (SaaS) solutions. Elastic offers three solutions for enterprise search, observability, and security. The likes of which are integrated on a single tech stack that can be deployed across various web environments. Whether it is finding documents, monitoring infrastructure, or searching for cybersecurity threats, Elastic makes data usable in real-time. Given the versatility and viability of its offerings, Elastic boasts an impressive list of clients. The most notable of which is Cisco (NASDAQ: CSCO), Goldman Sachs (NYSE: GS), Microsoft, and NASA. With gains of over 140% in the past year, could ESTC stock still have room to run moving forward?
For one thing, Elastic does not seem to be sitting idly by. Earlier this month, the company made two significant upgrades to its existing offerings. To begin with, Elastic revealed new cloud security features in its Elastic Security offering. In short, clients now have access to prebuilt machine learning and detection solutions to protect their cloud applications. Following that, the company also announced the integration of Grafana Labs’ visualization platform with the Elasticsearch platform. What this means is all Elasticsearch users now have access to Grafana’s data visualization services as well. As Elastic seems to be firing on all cylinders, will you be watching ESTC stock?
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JFrog Limited
JFrog Limited is a California-based “liquid” software company. How JFrog operates is via an end-to-end, Universal DevOps platform. In short, DevOps is a combination of software development and IT operations. With DevOps, software developers can shorten system development processes. Regarding JFrog’s DevOps platform, it provides the tools and visibility required for large organizations to best employ DevOps. As it stands, JFrog’s platform is available as an open-source, and SaaS solution across three major cloud computing platforms. Notably, they are Amazon (NASDAQ: AMZN) Web Services (AWS), Google (NASDAQ: GOOGL) Cloud, and Microsoft Azure. According to JFrog, the company caters to a majority of the Fortune 100 companies’ DevOps pipeline management needs. Given its role as an enabler in the fast-paced software industry, some investors might consider FROG stock worth buying on the dip.
Despite FROG stock mostly trading sideways this year, the company continues to grow its portfolio. In the company’s latest operational update on March 2, JFrog revealed that its DevOps tools are now available for government clients. Namely, said tools are available with native deployment templates for AWS GovCloud and Azure Government cloud users. With even the largest government cloud providers relying on JFrog, will you be adding FROG stock to your watchlist?
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Baidu Inc.
Last but not least, we have multinational tech company Baidu. The company specializes in Internet-related services and artificial intelligence (AI). In fact, it is considered to be among the most prominent AI and internet companies worldwide. Through its tech, the company has operations in the booming electric vehicle (EV) and autonomous vehicle (AV) markets. Specifically, this would be through the integration of its AI tech with EVs and AVs. For investors looking to bank in on these growing automotive trends, BIDU stock would be a go-to at the moment. This could explain why BIDU stock is looking at gains of over 105% in the past six months.
Just this morning, there were two big pieces of news regarding the company’s latest operations. Firstly, Baidu announced that its AI chip unit Kunlun completed a $2 billion round of fundraising. Given the importance of its AI division now, this move makes sense. At the same time, Baidu received qualifications to further test its commercialized AV operations in Cangzhou City, China. Remarkably, these qualifications make Baidu the first company in the region to test out AV-based monetization mechanisms. With Baidu kicking into high gear across the board, could BIDU stock be looking at more growth this year?
