Cloud Computing has recently been recognized as one of the most emerging technology. A considerable amount of research has been carried out to explore different areas in Cloud Computing. Nevertheless, few areas including reliability, security and business value of Cloud Computing are yet to be explored. This paper presents a brief summary on the analysis of current gaps and new trends in cloud computing research based on extant information systems literature, industry reports, and practical experience reflections. Additionally, it highlights the significance of cloud computing and its implications for practitioner and academics. We conclude by outlining the opportunities associated with the development of Cloud Computing and noting future research directions.