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The strength reported by Microsoft (MSFT) and Google (GOOG) (GOOGL) in their respective cloud computing units last week could have positive implications for the broader cloud computing software industry as a whole, investment firm Baird said.

“Strong data points to kick off earnings season from both Azure and Google Cloud, which should be directionally positive for our cloud data leaders – SNOW, MDB, DDOG and DT – boosting those stocks to end the week,” analysts at the investment firm said, referencing Snowflake (NYSE:SNOW), MongoDB (NASDAQ:MDB), Datadog (NASDAQ:DDOG) and Dynatrace (NYSE:DT).

Snowflake was up 0.8% in mid-day trading, while MongoDB, Datadog and Dynatrace fell at least 1% each.

A consensus of analysts expects Seattle-based Amazon to earn $0.83 on revenue of $142.56B in sales when it reports on April 30, implying a rise of 11.9% during the quarter.

Investors will also look into capital expense for the quarter, especially after the company said it anticipates spending for 2024 to increase year-over-year, primarily driven by increased infrastructure to support AWS growth and additional investments in generative AI among others.

MongoDB is slated to host an investor event on May 2, followed by Datadog, which will discuss its first-quarter results on May 7. Snowflake is set to discuss its first-quarter results of fiscal 2025 on May 22.

Dynatrace has not yet set a date, according to its investor relations website.

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