Google (GOOG) to acquire analytics startup to build data analytics solutions
Known for its impressive data analytics tools, Google made headlines again after it announced the acquisition of Looker for $2.6 billion. Locker is a successful analytics start-up which had raised more than $280 million, and Google plans to add Locker to Google Cloud.
It is envisioned that the new entity will bring together a complete data analytics solution to customers by providing end-to-end analytics platform to connect, collect, analyze and visualize data across Google Cloud, Azure, AWS, on-premises databases and ISV applications.
The move comes as Google has been facing some challenges in the cloud infrastructure market, and acquiring Looker, with a current valuation of nearly $2.6 billion, can bring the necessary break the company has been looking for. Since its inception, Looker has been trying to disrupt the dull but compulsive ecosystem of data visualization tools and data prep tools to build solutions. It envisions forging a new, single piece platform for data where information can be aggregated and made available for business purposes.
If the deal goes through regulatory approval, it is set to close later this year.
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Notable companies
The most notable companies in this group are Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL), Meta Platforms (NASDAQ:META), Spotify Technology SA (NYSE:SPOT), Baidu (NASDAQ:BIDU), Pinterest (NYSE:PINS), Tencent Music Entertainment Group (NYSE:TME), Snap (NYSE:SNAP), Twilio (NYSE:TWLO), Zillow Group (NASDAQ:Z).
Industry description
Companies in this industry typically license software on a subscription basis and it is centrally hosted. Such products usually go by the names web-based software, on-demand software and hosted software. Cloud computing has emerged as a major force in this space, making it possible to save files to a remote database (without requiring them to be saved on local storage device); as long as a device has access to the web, it can access the data and the software programs to run it. This has in many cases facilitated cost efficiency, speed and security of data for businesses and consumers. Alphabet Inc., Facebook, Inc. and Yahoo! Inc. are some well-known names in the internet software/services industry.
Market Cap
The average market capitalization across the Internet Software/Services Industry is 60.93B. The market cap for tickers in the group ranges from 1.11K to 1.94T. GOOGL holds the highest valuation in this group at 1.94T. The lowest valued company is MSEZ at 1.11K.
High and low price notable news
The average weekly price growth across all stocks in the Internet Software/Services Industry was -1%. For the same Industry, the average monthly price growth was -0%, and the average quarterly price growth was 2%. TRFE experienced the highest price growth at 53%, while QQQFF experienced the biggest fall at -58%.
Volume
The average weekly volume growth across all stocks in the Internet Software/Services Industry was 15%. For the same stocks of the Industry, the average monthly volume growth was 9% and the average quarterly volume growth was -8%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 45
P/E Growth Rating: 72
Price Growth Rating: 59
SMR Rating: 84
Profit Risk Rating: 92
Seasonality Score: -6 (-100 ... +100)