Cloud computingcompanies see rapid growth as demand forartificial intelligence, 5G,andthe Internet of Thingsrise.Althoughcompanies havebeenusingcloud storage services forsometime,itscrazegrew sharplyduring thelockdownsin 2020.<\/p>\n
Here we discuss two stocks thatsaw robust growththis year.<\/p>\n
The Trade Desk, Inc. (NASDAQ: TTD)<\/p>\n
TheVentura, California-basedTheTrade Desk provides acloud-based platformto ad buyers,whocan optimize, create, and manage their data-driven ad campaigns in audio, video, display, in-app, and native and social ad formats. These campaigns can be used on different devices.<\/p>\n
The company has posted revenue of US$800 million for the nine months ended Sept 30, 2021,up55% YoY,compared toUS$516 million in the comparable periodofthe previous year.<\/p>\n
The net income grew to US$129.7 million or US$0.26 per share diluted compared to US$90 million or US$0.19 per share diluted in the same periodof2020.<\/p>\n
The companysawstrong customer retention of over 95% during the quarter.<\/p>\n
Also Read:Top 8 US vaccine stocks of 2021<\/p>\n
TheTrade Deskwas founded in 2009 and went public in Sept 2016.It has a market capitalization of US$46.1 billion,aP\/E ratioof168.51,andaforward P\/E one yearof283.30.<\/p>\n
The stock price moved between US$114.09andUS$46.71 in the last 52 weeks. It generated a 19.91% return YTD and closed at US$96.05 on Dec 23, 2021.<\/p>\n
Also Read:These 5 US stocks returned between 500% and 5,000% in 2021<\/p>\n<\/p>\n
Also Read:Yearender: Top 5 shipping and logistics stocks of 2021<\/p>\n
DigitalOcean Holdings, Inc. (NYSE: DOCN)<\/p>\n
TheNew York-based DigitalOcean provides cloud computing tools and on-demand infrastructure for start-ups, small and medium-sizedenterprises,anddevelopers.<\/p>\n
The platformisused forvariousprojects,including web development,gaming, mobile applications, website hosting, e-commerce, etc.<\/p>\n
For the nine months ended Sept 30, 2021, DigitalOcean recorded revenue of US$309 million compared to US$231 million for the same period in 2020.<\/p>\n
The company booked a net loss of US$7.38 million or US$(0.08) per diluted share versus a net loss of US$29.7 million or US$(0.72) per diluted share inthe sameperiod of 2020.<\/p>\n
Its average revenue per customer (ARPU) in Q3, 2021,increased by 28%YoY toUS$61.97.<\/p>\n
Also Read:Yearender: Top 5 healthcare stocks that grabbed limelight in 2021<\/p>\n
The companywasfeaturedinNewsweekslist ofmost loved workplaces for 2021.<\/p>\n
The technology company has a market capitalization of US$8.6 billion. The stock traded in the range of US$133.40 to US$35.35 in the last 52 weeks.It closed at US$81.26 on Dec 23, 2021.DigitalOceanlaunched itsIPO in March 2021.The stock gained over90% sincetheIPO.<\/p>\n
Also Read:Blackstone Products (BLKS) to go public via SPAC know details<\/p>\n
Bottomline<\/p>\n
The S&P 500 Information Technology Sector Index rose 32.73% YTD, showing the sector's steady growth. However, investors must exercise due diligence before investing in stocks.<\/p>\n
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Top 2 cloud computing stocks to watch in 2022 - Kalkine Media<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Cloud computingcompanies see rapid growth as demand forartificial intelligence, 5G,andthe Internet of Thingsrise.Althoughcompanies havebeenusingcloud storage services forsometime,itscrazegrew sharplyduring thelockdownsin 2020. Here we discuss two stocks thatsaw robust growththis year. Continue reading