14 Best Cloud Computing Stocks To Invest In
Cloud computing is one of the most in-demand and fastest-growing tech sectors boosted by digitalization, especially during the pandemic. The COVID-19 pandemic further highlighted the demand for cloud computing services given their flexible costs, scalability, and efficiency. According to a PWC study, in the first quarter of 2020, spending on cloud computing was already at $29 billion, up 38% compared to the same quarter of 2019.
Cloud computing is the fastest-growing tech segment in the market, with over 3.6 billion users in 2018 and a global market size that reached $266 billion in 2019. Many investors believe that the cloud computing industry will continue to grow as more companies adapt to the work-from-home era. For instance, during the enforced lockdown, companies relied solely on the adaption of Software-As-A-Service (SaaS) based solutions to safeguard their employees. According to a study published in Insivia, in 2021, SaaS s
5 Best Cloud Computing Stocks to Invest In
No of HFs: 116
Total Value of HF holdings: $15.6 Billion
Video streaming Netflix, Inc ranks 5th in our list of the 14 best cloud computing stocks to invest in. NFLX is engaged in streaming entertainment services that started with DVD and Blu-Ray rental services and later dropped the discs for online streaming. During the coronavirus pandemic, the company raised its user database to 200 million, up 25% from 2019. The US makes up the largest of its global subscribers database, with over 73 million users.
The company’s total net income in 2020 came in at $2.76 billion, with the company’s annual revenue of $25 billion. Shares of NFLX jumped 49% over the last twelve months. In March 2021, Analyst Piper Sandler reiterated the stock to Overweight, resulting in an increase of 1.8% in NFLX.