Best Cloud Storage Stocks to Watch Today - March 7th

Investors are eager to follow the cloud storage sector, where several notable companies are making waves. According to MarketBeat's stock screener, the seven leading cloud storage stocks to keep an eye on today are NetApp, Commvault Systems, Tuya, Alarm.com, Backblaze, GoPro, and Shengfeng Development. These stocks represent companies that provide data storage solutions through cloud computing, enabling users to store and access information online rather than relying on traditional hardware.

The growing demand for scalable and secure remote storage services continues to present investment opportunities, especially as digital data expands worldwide. The companies mentioned are among those with the highest trading volume in the cloud storage sector recently.

NetApp (NTAP)

NetApp, Inc. specializes in cloud-led and data-centric services for managing and sharing data across on-premises, private, and public clouds globally. The company has two primary segments: Hybrid Cloud and Public Cloud, offering intelligent data management solutions and storage infrastructure. Key products include NetApp ONTAP, SnapCenter, SnapMirror, and various All-Flash FAS series options.

As of the latest trading session, NetApp's shares were priced at $91.88, with a trading volume of approximately 725,750 shares. Its 50-day moving average stands at $117.89 while the 200-day moving average is $120.89. The company has a market capitalization of $18.69 billion and a P/E ratio of 16.86.

Commvault Systems (CVLT)

Commvault Systems, Inc. offers a data protection platform designed to secure, defend, and recover data for clients across the United States and internationally. Key offerings include Commvault Backup & Recovery, Disaster Recovery solutions, and Metallic Data Protection as-a-service, all incorporating advanced security features.

During recent trading activity, CVLT's stock reached $149.99, with a volume of 150,593 shares traded. The company's 50-day average is $165.26 and its market cap is $6.60 billion with a P/E ratio of 39.35.

Tuya (TUYA)

Tuya Inc. provides an internet-of-things (IoT) cloud development platform, enabling businesses and developers to create and manage smart devices. It offers a platform-as-a-service element that assists different stakeholders in deploying and monetizing software-enabled devices.

Currently, Tuya's shares are trading at $3.87, and the stock has seen a volume of about 4,740,538 shares recently with a market cap of $2.07 billion.

Alarm.com (ALRM)

Alarm.com Holdings, Inc. specializes in IoT solutions for various markets, focusing on security system control and monitoring. Their product range includes smart home devices and video analytics solutions, highlighting secure cloud storage functionalities.

ALRM stocks were priced at $57.70 recently, with a trading volume of 51,771 shares, and a market cap of $2.86 billion.

Backblaze (BLZE)

Backblaze, Inc. provides cloud storage services to ensure data protection for both businesses and individual consumers. The company offers user-friendly cloud solutions and infrastructure built on standard hardware.

On the trading floor, Backblaze shares were at $5.23 with a trading volume of 162,242 shares.

GoPro (GPRO)

GoPro, Inc. is known for developing cameras and accessories for various applications, including cloud-connected features that aid in camera and content management.

GoPro shares traded at $0.72 with a total volume of 967,585 shares in the most recent trading session.

Shengfeng Development (SFWL)

Shengfeng Development Limited offers logistical services and cloud storage solutions, primarily focusing on freight transportation and warehouse management.

Recently, shares of Shengfeng were priced at $1.02, reflecting a trading volume of 2,570 shares.

With the rise of cloud computing, keeping track of these stocks may provide valuable insights for investors looking to capitalize on the industry's potential growth.

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