Promising Cloud Storage Stocks To Add to Your Watchlist - August 10th

Key Points

• NetApp, CommVault Systems, Alarm.com, Backblaze, and GoPro are highlighted as top Cloud Storage stocks to watch, driven by trends in data growth and enterprise IT spending.
• NetApp reported a market cap of $21.28 billion with a stock price increase to $106.21, showcasing significant trading activity.
• CommVault Systems has a market cap of $8.16 billion, offering a robust data protection platform, while its stock recently traded down to $183.53.

NetApp, CommVault Systems, Alarm.com, Backblaze, and GoPro are the five Cloud Storage stocks to watch today, according to MarketBeat's stock screener tool. Cloud storage stocks are shares of publicly traded companies that provide online data hosting and management services via remote servers. Investors buy these stocks to gain exposure to firms whose revenues depend on subscription-based or usage-based fees for storing, securing, and accessing digital information in the cloud. The performance of these stocks is driven by trends in data growth, enterprise IT spending, and the competitive landscape of cloud infrastructure providers. These companies had the highest dollar trading volume of any Cloud Storage stocks within the last several days.

NetApp (NTAP)

NetApp, Inc. provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.

NetApp stock traded up $2.36 during mid-day trading on Friday, hitting $106.21. 1,275,301 shares of the company's stock traded hands, compared to its average volume of 1,491,817. The firm has a 50 day simple moving average of $104.68 and a two-hundred day simple moving average of $101.32. NetApp has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The stock has a market cap of $21.28 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 2.44 and a beta of 1.44. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.25 and a quick ratio of 1.22.

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CommVault Systems (CVLT)

Commvault Systems, Inc. provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.

CommVault Systems stock traded down $2.24 during mid-day trading on Friday, hitting $183.53. 311,238 shares of the company's stock traded hands, compared to its average volume of 535,481. The firm has a 50 day simple moving average of $177.71 and a two-hundred day simple moving average of $169.81. CommVault Systems has a fifty-two week low of $128.07 and a fifty-two week high of $200.68. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 101.96 and a beta of 0.70.

Read Our Latest Research Report on CVLT

Alarm.com (ALRM)

Alarm.com Holdings, Inc. provides various Internet of Things (IoT) and solutions for residential, multi-family, small business, and enterprise commercial markets in North America and internationally. The company operates through two segments, Alarm.com and Other. It offers solutions to control and monitor security systems, as well as to IoT devices, including door locks, garage doors, thermostats, and video cameras; and video monitoring and analytics solutions, such as video analytics, escalated events, video doorbells, intelligent integration, live streaming, secure cloud storage, and video alerts.

Alarm.com stock traded up $0.07 during mid-day trading on Friday, hitting $54.41. 695,805 shares of the company's stock traded hands, compared to its average volume of 299,272. The firm has a 50 day simple moving average of $56.42 and a two-hundred day simple moving average of $56.91. Alarm.com has a fifty-two week low of $48.23 and a fifty-two week high of $70.06. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 2.91 and a beta of 0.97. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.14 and a quick ratio of 2.01.

Read Our Latest Research Report on ALRM

Backblaze (BLZE)

Backblaze, Inc., a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases.

Shares of BLZE traded up $0.46 during midday trading on Friday, reaching $7.14. 1,962,125 shares of the stock were exchanged, compared to its average volume of 396,924. Backblaze has a twelve month low of $3.94 and a twelve month high of $8.08. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market cap of $391.99 million, a P/E ratio of -8.02 and a beta of 1.13. The stock's 50 day simple moving average is $5.42 and its 200 day simple moving average is $5.50.

Read Our Latest Research Report on BLZE

GoPro (GPRO)

GoPro, Inc. develops and sells cameras, mountable and wearable accessories, and subscription services and software in the Americas, Europe, the Middle East, Africa, the Asia and Pacific region, and internationally. The company provides cloud connected HERO12 Black, HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, and HERO9 Black waterproof cameras; MAX, a 360-degree waterproof camera; Premium and Premium+ subscription services, which include full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription that offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik desktop and mobile apps that enable users to get their favorite photos and videos with footage from any phone or camera.

GPRO stock traded up $0.10 during midday trading on Friday, reaching $1.41. The company had a trading volume of 9,264,502 shares, compared to its average volume of 20,463,512. The company has a market capitalization of $222.15 million, a price-to-earnings ratio of -1.57 and a beta of 1.40. The stock has a 50 day moving average price of $0.96 and a 200-day moving average price of $0.79. GoPro has a 1-year low of $0.40 and a 1-year high of $2.37.

Read Our Latest Research Report on GPRO

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