Best Cloud Storage Stocks to Follow - March 7th

Investors looking to explore the cloud storage sector can consider seven notable stocks today: NetApp, Commvault Systems, Tuya, Alarm.com, Backblaze, GoPro, and Shengfeng Development. These companies provide solutions that utilize cloud computing to offer data storage, making information accessible via the internet instead of relying solely on traditional physical hardware. With the growing digital data landscape, demand for scalable and secure remote storage services is expected to rise. These stocks have recently shown significant trading volume among cloud storage companies.

NetApp (NTAP)

NetApp, Inc. specializes in cloud-led and data-centric services that help businesses manage and share data across various platforms including on-premises setups, private, and public clouds. The company operates through two segments: Hybrid Cloud and Public Cloud. It offers advanced data management software products such as NetApp ONTAP, along with comprehensive storage infrastructure solutions like the NetApp All-Flash FAS series.

On Friday, shares of NASDAQ:NTAP were trading at $91.88, with a total exchange of 725,750 shares. The stock's average volume is around 1,815,244 shares. The company's market cap stands at $18.69 billion, and it features a price-to-earnings (P/E) ratio of 16.86.

Commvault Systems (CVLT)

Commvault Systems, Inc. provides a comprehensive data protection platform aimed at securing, defending, and recovering data for clients worldwide. Their offerings include solutions like Commvault Backup and Recovery, and Metallic Data Protection as a service, which delivers enterprise-level data protection integrated with advanced security features.

As of Friday, CVLT stock traded at $149.99, with trading volumes at 150,593 shares compared to an average of 367,324. The market cap for Commvault is estimated at $6.60 billion.

Tuya (TUYA)

Tuya Inc. provides a tailored Internet of Things (IoT) development platform, assisting various industries in creating smart devices and services. Its platform-as-a-service solutions enable businesses and original equipment manufacturers to manage device integration efficiently.

In Friday’s trading session, NYSE TUYA was priced at $3.87, showcasing a notable volume of 4,740,538 shares. The stock has a year-to-date high of $4.63.

Alarm.com (ALRM)

Alarm.com Holdings, Inc. focuses on providing IoT solutions across different market segments, facilitating the monitoring and control of security systems and other connected devices. Solutions offered include smart locks, thermostats, and video monitoring systems, along with efficient cloud storage options.

ALRM shares were trading at $57.70 with a trading volume of 51,771 shares on Friday.

Backblaze (BLZE)

Backblaze, Inc. offers a cloud storage platform for both consumers and businesses, enabling data storage and protection through web-scale software infrastructures. Notably, it provides Backblaze B2 Cloud Storage, which is ideal for developers and various partners.

On Friday, BLZE was trading at $5.23, with 162,242 shares exchanged.

GoPro (GPRO)

GoPro, Inc. specializes in the development and sale of action cameras and accessories, integrating cloud services for seamless video editing and storage. Their subscription service offers comprehensive access to the Quik app and cloud-based storage.

As recorded on Friday, GoPro traded at $0.72.

Shengfeng Development (SFWL)

Shengfeng Development Limited provides logistics and cloud storage services in China, offering tailored freight transportation and various cloud-based logistics solutions.

SFWL stock traded at $1.02 on Friday, with a trading volume of 2,570 shares.

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