Whenever a stock bucks the trend by rallying strongly as the market falls, that may signal a buying situation for investors. There are two technology stocks that fit that trend.
Dropbox (NASDAQ:DBX) rallied to above the $22 level after reporting strong Q4 results. Its revamped, suite of products drove subscriptions. Instead of supplying file-sharing features for corporations and end-users, Dropbox added collaboration features. The ecosystem now supports Google Docs and Microsoft (NASDAQ:MSFT) Office.
Dropbox’s hybrid infrastructure gives the solution scale, agility, and innovation. Further, HelloSign has the biggest growth potential. This lets users sign documents from within the Dropbox system with ease. If DocuSign (NASDAQ:DOCU) proved this is a growth area, then Dropbox is an inexpensive way to invest in that trend.
Elastic (NYSE:ESTC) added over $10 to its stock price after posting revenue growing 60% Y/Y. Though its loss will be $1.24 - $1.17, the FY revenue is as high as $424 million. Billings grew 54% from last year. And although cash flow dropped from last year, the firm has many product releases to drive revenue. So, as its solutions and elastic stack and its Elastic Cloud win customer orders, its stock will head higher.
