Shares of S&P Global Inc. (SPGI - Free Report) have gained 36.7% over the past year against 2.8% decline of the industry it belongs to. The company recently announced its collaboration with cloud-based data-warehousing company Snowflake for the delivery of data on S&P Global Marketplace.
The partnership makes financial, textual, ESG and alternative data on S&P Global Marketplace accessible to clients through Snowflake's cloud-data platform. This allows direct amalgamation of data into models and visualization tools, eradicating the need for on-premise databases.
Market Intelligence is a discovery tool that helps government agencies, corporations, investment professionals and universities track performance, identify investment ideas, comprehend competitive and industry dynamics, execute evaluations, and assess credit risk. Snowflake is the first cloud-hosted delivery option added to it.
The move is a part of S&P Global’s ongoing investments in flexible and open distribution of data. Currently, more than 20 datasets are available from S&P Global through Snowflake.
David Coluccio, managing director, Data Management Solutions at S&P Global Market Intelligence stated, "We are excited to work with an innovative company such as Snowflake to allow our clients to quickly access, utilize and maximize the value of their data, which is vital given the speed at which today's global markets operate."
Zacks Rank and Stocks to Consider
S&P Globalcurrently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader Zacks Business Services sector are TeleTech Holdings (TTEC - Free Report) , BG Staffing (BGSF - Free Report) and Elastic N.V. (ESTC - Free Report) . While TeleTech and BG Staffing sport a Zacks Rank #1 Elastic carries a Zacks Rank #2.You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term expected earnings per share (three to five years) growth rate for TeleTech, BG Staffing and Elastic is 7.9%, 20% and 26%, respectively.
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