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Business News

Tech Stocks that have returned over 150% in the last 12 months

These are the tech stocks that had the highest total return over the last 12 months.

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A significant number of U.S tech stocks have outperformed the market, amid the prevailing high volatility in the world’s biggest and most liquid stock market.

Investors are rushing to these stocks as their performances have brought massive wealth to those who own such fast-rising stocks that have produced returns not less than 200% in the past 12 months.

These are the tech stocks that had the highest total return over the last 12 months.

READ: Apple’s market value cross $ 2 trillion

Cloudflare Inc. – 373.1%

Cloudflare Inc. operates a cloud platform that delivers a range of network services to businesses worldwide. Its security products comprise cloud firewall, bot management, distributed denial of service, IoT, SSL/TLS, secure origin connection, and rate-limiting products. Founded in 2009 and headquartered in San Francisco, California, the company handles 21 million HTTP requests per second on average and serves data from 200 cities in more than 100 countries worldwide.

The stock has been on record-high owing largely to the demand for its high-end services that include providing integrated cloud-based security solutions to secure a range of combinations of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and Internet of Things (IoT) devices.

READ: African tech startups raise over $700 million in 2020 despite pandemic

Enphase Energy – 350.2%

The fast-rising renewable company seems to be enjoying a record amount of monetary support from the world’s largest economy in its drive to be less dependent on fossil energy. This has boosted the value of the stock, as investors rush to have a stake.

The international company, which was founded in 2006, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States. It is headquartered in Fremont, California, and operates in 21 countries, employing more than 800 people worldwide.

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READ: Gold prices drop, U.S Tech Stocks tick up

CrowdStrike Holdings Inc. – 262.3%

CrowdStrike Holdings, Inc. provides cloud-delivered solutions for next-generation endpoint protection in the United States, Australia, Germany, India, Romania, and the United Kingdom. The company recorded exponential growth in its share price.

They offer 11 cloud modules on their Falcon platform through software as a service subscription-based model that covers various security markets, such as endpoint security, security and IT operations, and threat intelligence to deliver comprehensive breach protection even against today’s most sophisticated attacks.

READ: Google’s advertising revenue plunges

Stanbic 728 x 90

Fastly Inc. – 251.8%

Fastly operates an edge cloud platform for processing, serving, and securing its customers’ applications. The fast-rising cloud platform provider has remained an investor’s delight due to the surging demand for its product, the edge cloud, which allows developers to build, secure, and deliver digital experiences at the edge of the internet.

Fastly, Inc. was founded in 2011 and is headquartered in San Francisco, California. The platform handles hundreds of billions of internet requests each day.

Zscaler Inc. – 249.8%

Zscaler, Inc. operates as a cloud security company worldwide. The company has seen impressive gains in the past 12 months on increasing demand for its core services that include servers, operational technology, internet of things, and device secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations.

The company operates over 150 data centres worldwide and processes up to 140 billion transactions per day during peak periods.

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Janet John is a graduate of Chemical Engineering from the University of Uyo. She specializes in technical writing where she creates easy to read documentation, articles to clearly and efficiently explain highly complex processes. When she is not writing, she works as a freelance front-end developer

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Business

Lagos agricultural sector to generate $10 billion in the next 5 years

The agricultural sector in Lagos state is projected to generate as much as $10 billion within the next 5 years.

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Lagos, Sanwo-Olu, Businesses that must remain closed after May 4
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The Lagos State Governor, Mr Babajide Sanwo-Olu, has projected that the agricultural sector in the state could generate as much as $10 billion within the next 5 years.

This is as the governor noted that Lagos could no longer afford to rely exclusively on other states for its food, adding that it was time to unlock its immeasurable agricultural potential through the implementation of the 5-year roadmap.

This disclosure was made by the Governor at the formal launch of the state’s 5-year Agricultural and Food Systems Roadmap, on Thursday, adding that most of the investments would be private sector-driven while the government acts as the catalyst and enabler.

Governor Sanwo-Olu opined that the Roadmap would also lead to wealth generation, value creation, food security, the industrialisation of the agricultural sector and the entrenchment of inclusive socio-economic development of the state.

He said that the roadmap essentially focuses on 3 pillars, which are: growth of the upstream sector, growth of the midstream and downstream sectors as well as improvement of private sector participation.

What the Lagos State Governor is saying

Sanwo-Olu, in his words, said, “Our strategies for sustainable Agricultural Development shall focus on three pillars. First, we will grow the upstream sector through interventions by leveraging technologies that are capable of lowering the cost of production of value chains; Focus on growing the midstream and downstream sectors that are of value and lastly, we will improve on private sector participation by developing and initiating policies that will encourage more private investments in agriculture.”

The projection is that the total investment in the Agricultural Sector from the government, private sector, donor agencies and development partners will run into over $10 billion in the next five years. While we expect most of the investment to be private sector-driven, the government will continue to provide the needed infrastructure while the private sector will be encouraged to lead the key projects.’

The governor pointed out that the state had already started the revamping of its Agricultural Land Holding Authority (ALHA) to support investment in agriculture, giving assurance that the coconut belt would also be strengthened with increased private sector involvement.

Sanwo-Olu listed some State’s landmark investments that will aid smooth delivery of the Roadmap to include the Lagos State Aquatic Centre of Excellence (LACE) that would boost fish production from 20% to 80%, the Imota Rice Mill, the Lagos Food Production Centre Avia, Igborosu-Badagry as well as other statewide agriculture-focused initiatives.

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He said, “I am greatly encouraged by the interest already generated in the Five-Year Agricultural Roadmap and I hope it will be sustained and backed with concrete action on the part of our development partners and the international community. I assure you that the Lagos State Government is putting in place deliberate incentives to make your investment safe, secure and profitable.’

Sanwo-Olu, therefore, urged potential and established stakeholders in the agricultural sector to partner with the state in order to transform the agricultural sector for food security, wealth generation, poverty eradication, economic diversification, rapid industrialisation and accelerated socio-economic growth.

Bottom line

This is a very laudable initiative from the Lagos State Government especially at a time the country is looking at diversifying its economy. The successful implementation of this programme with the expected benefits from the value chain will contribute significantly to the economic development of the state and the country in general.

Stanbic 728 x 90

The investment in the transformation of agriculture to agribusiness is one way of achieving the dream of attaining self-sufficiency in food production and creating more wealth.

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Business News

NNPC, SEEPCO sign gas development agreement for domestic market

The execution of the deal is to help reduce gas flaring in the country and a show of NNPC’s commitment to facilitating the country’s transformation into a gas-powered economy.

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The Nigerian National Petroleum Corporation (NNPC) and an indigenous oil exploration and production firm, Sterling Exploration and Energy Production Company (SEEPCO), both partners in the Oil Mining Lease (OML) 143, have signed a Gas Development Agreement (GDA).

The execution of the deal is to help reduce gas flaring in the country and a show of NNPC’s commitment to facilitating the country’s transformation into a gas-powered economy.

According to a tweet post from NNPC on their official Twitter handle, the agreement between both parties was signed at NNPC’s head office, NNPC towers, on Thursday, April 22, 2021.

The statement says that this latest milestone provides the terms for the development of OML 143 Gas, providing gas for the domestic market which aligns perfectly with the Federal Government’s National Gas Expansion Programme (NGEP).

What this means

The execution of this project will not only help to support the Federal Government’s effort in reducing gas flaring by monetizing it but will also play its part in the government’s effort in the expansion of gas utilization in the country as a cleaner, cheaper and more reliable alternative form of energy.

This is coming at a time when the Federal Government is shifting focus to gas utilization as an alternative source of energy especially with the increase in the retail pump price of petrol. This is one of the various initiatives by the government as represented by the NNPC towards providing alternative sources of energy.

 

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