Do You Have These Top Data Analytics Stocks On Your Focus List Right Now?
As the broader stock market continues to soar toward newer heights amidst the current pandemic conditions, data analytics stocks shine. After all, some would argue that the industry’s relevance in our data-filled world today will continue to grow over time. So much so that data analytics services could even become vital enterprise services in the future. This would mostly be thanks to the use of tech throughout most stages of conducting business. As we use the digital space to interact with companies and one another, data is being generated. For companies, this data can be a treasure trove of information that can lead to better business outcomes. As a result, I could see investors eyeing some of the top data analytics stocks in the sector right now.
To begin with, we could take a look at ad tech giant Google (NASDAQ: GOOGL). The company is one of, if not the leading name in the advertising industry today. In fact, Google saw its ad revenue surge by 69% year-over-year in its latest quarter fiscal last month. All of this adds up to a total revenue of $50.44 billion for the quarter. Through its analytical chops, the company connects businesses with their relevant audiences. Given the current scale of Google’s operations on this front, I can understand the hype around this industry.
At the same time, federal organizations continue to turn towards companies such as Palantir Technologies (NYSE: PLTR) as well. Namely, Palantir’s big data analytics expertise is actively helping governments across the globe. This would be the case from the U.K’s National Health Service to the U.S Army. With demand for data analytics services on the rise, data analytics stocks could be worth watching. Here are three to consider in the stock market today.
Best Data Analytics Stocks To Watch Right Now
- Semrush Holdings Inc. (NYSE: SEMR)
- The Trade Desk Inc. (NASDAQ: TTD)
- Magnite Inc. (NASDAQ: MGNI)
Semrush Holdings Inc.
Right off the bat, we will be taking a look at Semrush. In brief, Semrush identifies as an online visibility management Software-as-a-Service (SaaS) platform. Through its services, companies across the globe can identify and reach their target audiences. Moreover, Semrush helps them to do so in the right context and through the right channels. In practice, the company’s services provide customers with the means to understand trends in data and produce actionable insights.
With all of this in mind, I could see SEMR stock being a viable play in the stock market moving forward. After all, in an age where businesses engage with consumers digitally more than ever, Semrush’s platform would be relevant. Even now, the company’s shares are already looking at gains of over 70% year-to-date. Would it be wise to invest in it now?
Well, for one thing, the company does not appear to be slowing down on the financial front anytime soon. In its latest quarter fiscal posted yesterday, Semrush saw green across the board. The company reported year-over-year surges of 58% in total revenue and 57% in annual recurring revenue. According to CEO Oleg Shchegolev, this is mostly thanks to Semrush adding new capabilities to its platform throughout the quarter. Shchegolev believes that the company’s growing active user base illustrates how these strategic enhancements further add to Semrush’s lead in the industry. Could all of this make SEMR stock a top buy for you now?
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The Trade Desk Inc.
Another name to consider in the data analytics space now would be The Trade Desk (TTD). For some context, TTD primarily works to empower organizations looking to buy advertising slots. In essence, it accomplishes this via a self-service, cloud-based platform. Through TTD’s platform, ad buyers can create, manage, and optimize their digital advertising campaigns across ad formats and devices. On top of that, users also have access to integrations with major data, inventory, and publisher partners through TTD’s network.
Thanks to rising ad-buying activity throughout the pandemic, TTD stock continues to gain momentum in the stock market today. Since its pandemic era low, the company’s shares are still holding on to massive gains of over 440%. Despite its current momentum, TTD appears to be kicking into high gear, bolstering its current offerings. As of late last month, the company is now working with Conviva, an intelligent cloud for streaming media software firm. Through this partnership, the duo is looking to help premium publishers supply programmatic buyers with better contextual advertising solutions. The likes of which focus on streaming ad campaigns in particular. Given the latest cord-cutting trends among consumers, this would be a strategic play by TTD.
If all that wasn’t enough, the company also reported stellar figures in its second-quarter fiscal posted earlier this week. In detail, TTD reported a total revenue of $280 million for the quarter, marking a 101% year-over-year increase. Furthermore, the company also posted solid year-over-year jumps of 90% in net income and 100% in earnings per share. With TTD seemingly firing on all cylinders now, will you be investing in TTD stock?
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Magnite Inc.
Next, we have Magnite. For some context, the California-based company is a leading name in the online ad tech industry today. In fact, it is the largest independent sell-side ad platform globally, by Magnite’s calculations. For the most part, publishers use the company’s services to monetize their content across a massive array of screens and formats. This includes but is not limited to connected TV (CTV), online video, and display. Similar to our previous entry, Magnite would stand to benefit from the rise of CTV trends now.
If anything, investors appear to be well aware of this. This is evident seeing as MGNI stock is now up by over 320% in the past year. On the topic of CTV, Magnite does not appear to be resting on its laurels just yet. In its recent quarter fiscal report last week, the company saw its CTV revenue grow by 108% year-over-year on a pro forma basis. Additionally, Magnite also posted massive year-over-year leaps of 170% in total revenue and 194% in net income.
Overall, CEO Michael Barrett had this to say, “I’m very pleased with the Company’s recent performance. We closed two very strategic acquisitions, SpotX and SpringServe, and delivered strong growth across all channels, on both our legacy platform and the newly acquired business.” Moving forward, Barrett also believes that Magnite is well-positioned to better serve the booming CTV market as well. Would all of this make MGNI stock worth investing in for you?
