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The Best And Worst Technology Company Stocks In The First Half Of 2018

Twenty-eight of the 44 technology companies on our watch list recorded gains in the price of their publicly traded shares in the first half of 2018. Take a look at who were the winners and who were the losers.

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Palo Alto Networks

CEO: Nikesh Arora

Dec. 29, 2017 Close: $144.94

June 29, 2018 Close: $205.47

Change: +41.76%

On June 1 security technology vendor Palo Alto Networks announced that Nikesh Arora would take over as the company's CEO and chairman the following week. He succeeded then-CEO Mark McLaughlin, who became vice chairman.

Arora worked for nearly a decade at Google, helping grow the company's search business from $2 billion to more than $60 billion. More recently he served as president and COO of Tokyo-based SoftBank Group.

Palo Alto Networks was active on the acquisition front in the first half of 2018, including buying cloud infrastructure services provider Evident.io for $300 million and endpoint detection and response startup Secdo.

For its fiscal 2018 third quarter (ended April 30), Palo Alto Networks reported revenue of $567.1 million, up 31 percent from $431.8 million in the third quarter of fiscal 2017. The company reported a loss of $46.7 million for the quarter compared with a $60.9 million loss one year earlier.

Palo Alto Networks will report its fourth quarter and full year fiscal 2018 (ended July 31) results on Sept. 6.

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Tableau Software

CEO: Adam Selipsky

Dec. 29, 2017 Close: $69.20

June 29, 2018 Close: $97.75

Change: +41.26%

For the first six months (ended June 30) of fiscal 2018, business analytics software developer Tableau reported that revenue grew 28 percent year over year to $528.5 million from $412.8 million in the first half of 2017. The company reported a loss of $58.5 million for the six-month period compared with a loss of $97.2 million in the first half of 2017.

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Carbonite

CEO: Mohamad Ali

Dec. 29, 2017 Close: $25.10

June 29, 2018 Close: $34.90

Change: +39.04%

On March 19 Carbonite, a developer of cloud-based data backup and recovery services, completed its acquisition of rival Mozy from Dell Technologies for $145.8 million. The acquisition, announced in February, is expected to increase Carbonite's roster of both customers and channel partners.

For the first half (ended June 30) of fiscal 2018, Carbonite reported revenue of $141.8 million, up 22 percent from $116.1 million in the first half of 2017. The company reported net income of $6.3 million for the six-month period, up more than four-fold from $1.2 million in the same period one year before.

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Seagate Technology

CEO: Dave Mosley

Dec. 29, 2017 Close: $41.84

June 29, 2018 Close: $56.47

Change: +34.97%

For fiscal 2018 (ended June 29), Seagate reported revenue of $11.18 billion, up nearly 4 percent from $10.77 billion in fiscal 2017. Net income for the year was $1.18 billion, up 53 percent from $772 million in fiscal 2017.

On July 30, after the period covered by this analysis, Seagate announced that CFO David Morton was leaving the company on Aug. 3 for a senior finance executive position with another company. Morton's LinkedIn account now lists him as chief accounting officer with car manufacturer Tesla.

Seagate said Morton's departure was "not based on any disagreement with the company's accounting principles, practices or financial statement disclosures." Morton had been with Seagate since 1995.

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Salesforce.com

Co-CEOs: Marc Benioff (pictured) and Keith Block

Dec. 29, 2017 Close: $102.23

June 29, 2018 Close: $136.46

Change: +33.48%

For its fiscal 2019 first quarter (ended April 30), Salesforce reported revenue of $3.01 billion, up more than 25 percent from just under $2.40 billion in the same quarter one year earlier. Net income for the quarter was $344 million compared with net income of $1 million one year before.

The company is forecasting revenue of more than $13.12 billion for all of fiscal 2019.

On March 20 Salesforce signed a $6.5 billion deal to acquire MuleSoft, a developer of technology used to build application networks that connect enterprise applications, data and devices across cloud and on-premises environments. Salesforce plans to use MuleSoft's technology as the foundation for its Salesforce Integration cloud product.

On Aug. 7, after the period covered by this analysis, Salesforce announced that president and COO Keith Block had been promoted to co-CEO.

 
 
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