4 Top Cloud Computing Stocks To Watch In The Stock Market Today – Miami County Republic

4 Cloud Computing Stocks To Check Out Today

Whether we like it or not, the stock market has been experiencing volatility over the past year. As such, picking the right industry or stock may be more challenging than usual. Nevertheless, investors could still be thinking ahead as the stock market attempts a recovery. They could be looking at sectors that may do well when the market sentiment improves. With that in mind, cloud computing stocks could come to mind. Now, why is that so? It may go unnoticed, but we are already leveraging cloud technology on a daily basis. Everyday life activities such as banking, media streaming, e-commerce, and even emails would involve the cloud in a certain capacity. Hence, it would not be surprising that cloud computing will remain relevant for the foreseeable future.

With cloud computing, it is also easier than ever before for companies to collaborate on a larger scale. For instance, Microsoft (NASDAQ: MSFT) and DocuSign (NASDAQ: DOCU) recently announced an expansion of their global strategic partnership. The collaboration will provide new integrations and capabilities that could enhance their joint customers ability to manage agreements in the cloud. Well, this means that they can be done practically anywhere. Moreover, most organizations are finding ways to migrate to the cloud. Despite that, it is just the beginning for many companies in their cloud journey. Keeping this in mind, here are four of the top cloud computing stocks to note in the stock market today.

Oracle is a company that provides products and services that caters to enterprise information technology (IT) environments. Its businesses include cloud and license, hardware, and services. Its customers leverage its technology to build, deploy, manage, and support their internal and external business operations. Yesterday, ORCL stock rose by more than 10% following the release of the companys fourth-quarter and full-year 2022 earnings report.

Diving in, Oracles quarterly revenue improved to $11.8 billion, up 5% year-over-year. Out of which, Cloud revenue contributed $2.9 billion, representing an increase of 19% year-over-year. Also, the company reported adjusted earnings per share of $1.54 for the quarter, surpassing Wall Streets estimate of $1.37 per share. Overall, Oracle continues to improve its top-line results and believes that its business has now entered a hyper-growth phase. Given such an encouraging performance, would you consider jumping on the ORCL stock bandwagon?

Following that, we have the cloud-native enterprise software-as-a-service (SaaS) company, Anaplan. For those unaware, the companys platform allows its users to model what-if scenarios, contextualize current performance in real-time, and forecast future outcomes for better and faster decisions. All this is possible due to its platform that leverages advanced predictive analytics capabilities, including Anaplan PlanIQ. While the broader stock market continues to struggle, PLAN stock has shown plenty of resilience this year. In fact, the stock has climbed more than 38% since the start of the year.

Investors should note that most of these gains were due to news of Thoma Bravo acquiring Anaplan back in March. Earlier this month, both companies came out and announced that they have amended the terms of their previously announced transaction. Under the new terms, Anaplan stockholders will receive $63.75 per share in cash instead of the previously agreed $66.00 per share. All in all, Anaplan believes that Thoma Bravo will be the right partner for it to continue to deliver the best-in-class planning platform for its customers. With that being said, should investors be watching PLAN stock today?

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Another leading name in the cloud computing space today is Salesforce. Put simply, this is a customer relationship management software company that provides enterprise applications focused on customer services. Its software is also used for application development, analytics, and marketing automation among others. The company claims that more than 150,000 companies use its software to grow their businesses. Not to mention, Salesforce recently introduced new Customer 360 innovations that connect marketing, service data, and commerce all on one platform.

Not only can companies connect, automate, and personalize every single interaction, but they will also be able to build trusted relationships at scale. For example, the company announced new partners for Customer Data Platform (CDP) and Commerce Cloud on the Salesforce AppExchange. As a result, it will extend the power of Salesforce to drive efficiency and deliver higher personalized experiences. Also, CDP integrates with Google for seamless first-party data interoperability. All in all, there appear to be reasons for optimism with the company. Having fallen by over 30% this year, would you bet on CRM stock recovering in the near future?

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The Trade Desk is a technology company that empowers buyers of advertising through its self-service, cloud-based platform. Its customers can create, manage, and optimize digital advertising campaigns across ad formats and channels. This includes display, video, audio, in-app, native, and social. Besides that, its platforms integrations with data partners and publishers provide ad buyers reach and better decision-making capabilities. However, TTD stock has been in a slump since the start of the year. Notably, the stock is down by almost 50% within the period and could be an intriguing opportunity at its current valuation.

After all, The Trade Desk has been firing on all cylinders in its recent financial report. During its first quarter, the companys revenue increased to $315 million, up 43% year-over-year. Meanwhile, its Non-GAAP adjusted EBITDA was $121 million, representing an increase of 70.5% compared to the prior years quarter. Investors should note that this outstanding first-quarter performance is the best that it had over the last four years. One might say, it is a testament to the value that marketers are increasingly placing on data-driven advertising on the open internet. All things considered, would you consider TTD stock as a top cloud computing stock to buy?

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4 Top Cloud Computing Stocks To Watch In The Stock Market Today - Miami County Republic