Cloud computing is revolutionizing businesses. Managing IT infrastructure for them is becoming seamless. On-demand access to resources like servers, storage and software over the internet has become easier. With the continuous growth of cloud adoption, companies are to benefit from significant financial returns. Here are five cloud computing stocks which are expected to deliver outstanding gains.
Datadog Inc.
Datadog is a leader in cloud monitoring and analytics. It is benefiting from new customer acquisitions and expanding product portfolio. It has partnered with Google Cloud, Microsoft Azure and AWS. Its expected revenue growth is 23.4% for 2024. Its shares could see a potential price increase of 29.1%.
Domo Inc.
Domo offers a business intelligence platform that connects executives with real-time data across devices. Its expected earnings growth is 22.4% by 2026. Its price target increase is expected to 27.3%. It has a strong presence in North America, Europe and Asia.
Okta Inc.
Okta is a leading identity and access management provider. It offers secure solutions for managing user identities across devices and applications. Its projected earnings growth rate is 60% and the potential price increase is 40.8%.
Olo Inc.
Olo is a SaaS platform for restaurant industry. It enables digital commerce operations like online ordering, delivery and payments. Its innovative solutions such as advanced fraud prevention and marketing tools help restaurants in optimizing their operations. Its expected earnings growth is 40% and a potential price increase is 67.3%.
Workday Inc.
Workday is a provider of financial and human capital management software. It is benefiting from strong customer demand across various sectors. It has a collaboration with Salesforce to deliver AI-powered solutions. Its expected earnings growth is 18.8% and potential price increase is 11.5%.
