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MSFT stock has gained approximately 40%, 32.56%, and 6.28% in the past year, YTD, and three months respectively.
Microsoft Corp (NASDAQ: MSFT) stock closed yesterday trading at $294.85, up 0.59%. MSFT stock had gained approximately 0.27% during the extended trading period. The gains were partially attributed to news that Microsoft has acquired Ally.io, a leading objective, and key results company.
According to the company through a blog post, Ally.io will join the Microsoft Viva family as part of the company’s employee experience platform (EXP). The ultimate goal of the Ally.io acquisition is to help Microsoft employees embrace the new digital life.
“The OKR category is a fast-growing and emerging space. Ally.io is leading the way as one of the most loved tools on the market. Customers find the Ally.io experience flexible, easy to use with quick time-to-value. They appreciate its broad set of integrations with existing work systems. Since its launch in 2018, Ally.io has been adopted by over 1,000 leading high-tech, manufacturing, financial services, and healthcare businesses across more than 80 countries,” Kirk Koenigsbauer, chief operating officer and corporate vice president of Microsoft’s experiences and devices division noted in the blog post.
Koenigsbauer further explained that the acquisition of Ally.io is strategic for the company’s long-term goal. Moreover, having a focused team is more or less the assurance of a successful company. Notably, Ally.io will help Microsoft employees align in accordance with the company’s core priorities.
Since the onset of the coronavirus pandemic, companies have significantly shifted to allowing their employees to work remotely. Furthermore, it has been proved to be efficient for most organizations.
As a technology-oriented company, Microsoft is heavily supported by remote working employees from all over the world.
MSFT Stock amid the news of Ally.io Acquisition by Microsoft
According to market analytics provided by MarketWatch, MSFT stock has gained approximately 40%, 32.56%, and 6.28% in the past year, YTD, and three months respectively through Thursday. Notably, the company’s stock is headed to breaking above its all-time high around $305.84. However, the move could be invalidated should the recent pullback continue in the short-term perspective.
At the time of reporting, the company had a reported market capitalization of approximately $2.2 trillion and 7.51 billion outstanding shares. In the past 52- weeks, MSFT stock has ranged between $199.62 and $305.84.
The acquisition of Ally.io is expected to boost the company’s market value on a long-term basis. Notably, the company did not disclose the financial term of the acquisition. However, Wall Street analysts are optimistic the company’s stock market will continue rallying in the foreseeable future.