4 Cloud Stocks That Will Continue To Fly High In 2021

Cloud-based solution-providing companies are making the most of the battle against the pandemic, wherein mass gatherings are strictly restricted and people are being increasingly asked to work from home.

The shelter-in-place orders have fueled demand for remote project collaborations, video conferencing, online classes, data storage, gaming, and e-commerce shopping. Such services are easily available with the help of cloud computing technology.

Moreover, big data has become one of the biggest assets for the healthcare industry. Storing and managing an enormous amount of data are of utmost importance, and cloud computing firms are emerging as key players in this regard.

Additionally, growing usage of cloud-based services is aggravating security lapses, inducing risks of hacking and phishing mails in the garb of coronavirus as the subject content. Also, usage of own devices and equipment that are not properly configured or can be infected with malware during teleworking or accessing information to and fro from the cloud raises possibilities of security breaches for enterprises. This is driving demand for cloud-based security service solutions.

With demand for cloud-based solutions growing, enterprises are turning to software companies for providing the digital infrastructure they need to keep up with the online world.

Considering the healthy growth prospects of cloud-focused tech companies, it makes sense to invest in this space for long-term gains.

Let’s, thus, take a closer look at some of the notable cloud stocks that not only benefitted from this growing reliance on technology in 2020 but are also poised to keep gaining next year.

The Trade Desk, Inc. (TTD Quick Quote TTD - Free Report) is a provider of a technology platform for advertising. The company is benefiting from the momentum in programmatic ad buying. In addition, the emergence of digital content boosted the usage of this company’s inventory across all forms of ConnectedTV (“CTV”). Moreover, recovering ad demand and spending scenario is anticipated to fuel the top line.

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