Cloud Storage Companies Stock

Given the encouraging projection for cloud software companies in 2020 it would be wise to buy four promising saas stocks.

Cloud storage companies stock.

The year 2019 is coming to an end and here we do a review of the best performing cloud stocks of 2019 and the most promising for 2020. Still figuring out which cloud computing stocks to buy requires a big picture look at the top companies. The criteria for making this list are a strong strategy or. Splk splunk is a cloud platform for collecting analyzing and storing machine generated data.

Many saas companies are now working with aws and other cloud vendors to reach new markets. Cloud software companies enjoy high margins since costs linked with delivering a cloud hosted software service is relatively less. A quick look at the first trust cloud computing etf nasdaq skyy which tracks an index focused on the accelerating cloud computing industry shows that cloud stocks are collectively up 200. Get instant access to more trading ideas exclusive stock lists and ibd proprietary ratings for only 5.

These firms carry a zacks rank 2 buy. But a 60 times forward price to earnings multiple against a nearly 30 eps growth rate means the company can grow into that valuation. Bank of america has a buy rating and 138 price target for twlo stock. In fact the shares are up almost 40 in the last 12 months thanks in part to a movement toward.

Widely speaking saas stocks are winners in the near term with. Cloud czars the owners of the biggest data. Yes boring old cisco systems csco 0 12 is going strong in the age of cloud computing. But czars aren t the only companies making money off the cloud.