10 Best Cloud Computing Stocks for 2023 and Beyond

“If someone asks me what cloud computing is, I try not to get bogged down with definitions. I tell them that, simply put, cloud computing is a better way to run your business.”

Marc Benioff, Founder and CEO, Salesforce

A better way to run your business: This has been the idea behind a market that is worth billions of dollars. And over the next couple of decades, the cloud computing market is going to get bigger and bigger like a fine wine that gets better with age.

According to Facts and Factors Market Research, the global cloud computing market in 2019 was approximately $321 Billion. The market is expected to grow at a CAGR of 18% and is anticipated to reach around $1.0259 Trillion by 2026.

Benioff in an email Q&A with Mercury News defined “Cloud computing is a technology model that refers to anything that involves delivering services over the Internet”.

Based on the aforementioned definition you can begin to see why cloud computing is a big deal, so big the World Economic Forum identified it as a major driver of the Fourth Revolution along with artificial intelligence, fully autonomous vehicles, and 5G among others.

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More businesses are moving operations over to the cloud at a rate higher than anticipated as a result of lockdown restrictions on various physical business operations in many countries including the United States. And on another hand, consumers’ demand for cloud-based services is exploding.

Also Checkout: 10 Top Big Data/Data Analytics Stocks for 2023

Expectedly, the business of delivering services over the internet is booming.

CLOUD COMPUTING IS BOOMING.

If you are interested in investing in cloud computing, here are 10 cloud stocks to strongly consider:

1. Salesforce (NYSE: CRM)

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide.

The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.

It also provides Service Cloud, which enables companies to deliver personalized customer service and support, as well as a field service solution that enables companies to connect agents, dispatchers, and mobile employees through a centralized platform, which helps to schedule and dispatch work, and track and manage jobs in real-time.

In addition, the company offers Marketing Cloud to plan, personalize, and optimize one-to-one customer marketing interactions; and Commerce Cloud, which enables companies to enhance engagement, conversion, revenue, and loyalty from their customers.

Further, it provides Customer 360 Platform that offers no-code to pro-code Platform-as-a-Service tools for building, securing, integrating, and managing the business apps; MuleSoft Anypoint Platform enables customers to connect any system, application, data, or device; Quip collaboration platform, which combines documents, spreadsheets, apps, and chat with live CRM data; and Tableau and Einstein Analytics, provides analytical technology to customers.

Additionally, the company offers various solutions for financial services, healthcare and life sciences, manufacturing, consumer goods, government, and philanthropy.

The company also provides professional services and education services, including instructor-led and online courses; and support and adoption programs.

It provides its services through direct sales; and consulting firms, systems integrators, and other partners.

salesforce.com, inc. has a strategic partnership with Siemens and Amazon Web Services, Inc. The company was founded in 1999 and is headquartered in San Francisco, California.

2. Fastly (NASDAQ: FSLY)

Fastly, Inc. operates an edge cloud platform for processing, serving, and securing its customer’s applications in the United States, the Asia Pacific, Europe, and internationally.

The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.

It is a programmable platform designed for web and application delivery.

The company offers Compute@Edge; developer hub that includes solution library patterns and recipes, API and language references, change logs, and Fastly Fiddle solutions; device detection and geolocation, edge dictionaries, edge access control lists, and edge authentication services; full site delivery services, such as dynamic site acceleration, origin shield, instant purge, surrogate keys, real-time logging and stats, and cloud optimizer services; and streaming solutions and services, including live streaming, media shield, and origin connect.

It also provides edge security solutions, such as DDoS protection, edge web application firewall (WAF), transport layer security (TLS), platform TLS, and compliance services; unified web application and API protection solutions that includes runtime self-application protection, advanced rate limiting, API protection, account takeover protection, bot management, and next generation WAF.

In addition, the company offers edge applications, such as load balancers and image optimizers; video on demand; and managed edge delivery services.

It serves customers operating in digital publishing, media and entertainment, technology, online retail, travel and hospitality, and financial technology services industries.

The company was formerly known as SkyCache, Inc. and changed its name to Fastly, Inc. in May 2012. Fastly, Inc. was founded in 2011 and is headquartered in San Francisco, California.

3. Snowflake (NYSE: SNOW)

Snowflake Inc. provides a cloud-based data platform in the United States and internationally.

The company’s platform offers Data Cloud, an ecosystem that enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data.

Its platform is used by various organizations of various sizes in a range of industries.

The company was formerly known as Snowflake Computing, Inc. and changed its name to Snowflake Inc. in April 2019. Snowflake Inc. was incorporated in 2012 and is headquartered in San Mateo, California.

4. DocuSign (NASDAQ: D0CU)

DocuSign, Inc. provides cloud-based software in the United States and internationally.

The company provides an e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements.

It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they’re signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.

The company provides Guided Forms, which enable complex forms to be filled via an interactive and step-by-step process; Click that supports no-signature-required agreements for standard terms and consents; Identify, a signer-identification option for checking government-issued IDs; Standards-Based Signatures, which support signatures that involve digital certificates; Payments that enables customers to collect signatures and payment; and eNotary, which offers the ability to execute electronic notarial acts.

It offers industry-specific cloud offerings, including Rooms for Real Estate that provides a way for brokers and agents to manage the entire real estate transaction digitally; Rooms for Mortgage, which offers digital workspace to create and close mortgages; FedRAMP, an authorized version of DocuSign eSignature for U.S. federal government agencies; and life sciences modules that support compliance with the electronic signature practices.

The company sells its products through direct, partner-assisted, and Web-based sales.

It serves enterprises, commercial and small businesses. The company was incorporated in 2003 and is headquartered in San Francisco, California.

5. CrowdStrike (NASADAQ: CRWD)

CrowdStrike Holdings, Inc. provides cloud-delivered solutions for endpoint and cloud workload protection in the United States, Australia, Germany, India, Israel, Romania, and the United Kingdom.

It offers 19 cloud modules on its Falcon platform through software as a service subscription-based model that covers various security markets, such as corporate workload security, security, and vulnerability management, managed security services, IT operations management, threat intelligence services, identity protection, and log management.

The company primarily sells its platform and cloud modules through its direct sales team.

CrowdStrike Holdings, Inc. was incorporated in 2011 and is headquartered in Sunnyvale, California.

6. ServiceNow (NYSE: NOW)

ServiceNow, Inc. provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide.

It operates the Now platform that offers workflow automation, artificial intelligence, machine learning, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

The company also provides information technology (IT) service management applications; IT service management product suite for enterprise’s employees, customers, and partners; IT business management product suite to manage IT priorities; IT operations management product that connects a customer’s physical and cloud-based IT infrastructure; IT Asset Management to automate IT asset lifecycles; and enterprise development operations product for developers’ toolchain.

In addition, it offers security incident management, threat enrichment intelligence, vulnerability response management, and security incident intelligence sharing security operation products; governance, risk, and compliance product to create policies and controls; human resources, legal, and workplace service delivery products; safe workplace applications; customer service management product; and field service management applications.

Further, it provides App Engine product; IntegrationHub enables applications to extend workflows; and professional, training, and customer support services.

It serves government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products. It sells its products through direct sales team and resale partners.

The company was formerly known as Service-now.com and changed its name to ServiceNow, Inc. in May 2012. The company was incorporated in 2004 and is headquartered in Santa Clara, California.

7. Amazon (NASDAQ: AMZN)

Amazon.com, Inc. engages in the retail sale of consumer products and subscriptions in North America and internationally.

The company operates through three segments: North America, International, and Amazon Web Services (AWS).

It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

The company also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Rings, and Echo and other devices; provides Kindle Direct Publishing, an online service that allows independent authors and publishers to make their books available in the Kindle Store; and develops and produces media content.

In addition, it offers programs that enable sellers to sell their products on its websites, as well as its stores; and programs that allow authors, musicians, filmmakers, skill and app developers, and others to publish and sell content.

Further, the company provides compute, storage, database, analytics, machine learning, and other services, as well as fulfillment, advertising, publishing, and digital content subscriptions.

Additionally, it offers Amazon Prime, a membership program, which provides free shipping of various items; access to streaming of movies and TV episodes; and other services.

The company serves consumers, sellers, developers, enterprises, and content creators. Amazon.com, Inc. was founded in 1994 and is headquartered in Seattle, Washington.

8. Microsoft (NASDAQ: MSFT)

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide.

Its Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, as well as related Client Access Licenses (CAL); Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for small and medium businesses, organizations, and enterprise divisions.

Its Intelligent Cloud segment licenses SQL and Windows Servers, Visual Studio, System Center, and related CALs; GitHub that provides a collaboration platform and code hosting service for developers; and Azure, a cloud platform.

It also offers support services and Microsoft consulting services to assist customers in developing, deploying, and managing Microsoft server and desktop solutions; and training and certification to developers and IT professionals on Microsoft products.

Its More Personal Computing segment provides Windows original equipment manufacturer (OEM) licensing and other non-volume licensing of the Windows operating system; Windows Commercial, such as volume licensing of the Windows operating system, Windows cloud services, and other Windows commercial offerings; patent licensing; Windows Internet of Things; and MSN advertising.

It also offers Surface, PC accessories, PCs, tablets, gaming and entertainment consoles, and other devices; Gaming, including Xbox hardware, and Xbox content and services; video games and third-party video game royalties; and Search, including Bing and Microsoft advertising.

It sells its products through OEMs, distributors, and resellers; and directly through digital marketplaces, online stores, and retail stores.

It has a collaboration with DXC Technology, Dynatrace, Inc., Morgan Stanley, Micro Focus, WPP plc, and iCIMS, Inc.

The company was founded in 1975 and is headquartered in Redmond, Washington.

9. Alphabet (NASDAQ: GOOGL)

Alphabet Inc. provides online advertising services in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services.

It operates through Google Services, Google Cloud, and Other Bets segments.

• The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

• The Google Cloud segment offers infrastructure and data analytics platforms, collaboration tools, and other services for enterprise customers.

• The Other Bets segment sells internet and TV services, as well as licensing and research and development services.

The company was founded in 1998 and is headquartered in Mountain View, California.

10. Zscaler (NASDAQ: ZS)

Zscaler, Inc. operates as a cloud security company worldwide.

The company provides Zscaler Internet Access solution that provides users, servers, operational technology, internet of things, and device secure access to externally managed applications, including software-as-a-service (SaaS) applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers and private or public clouds.

It also offers Zscaler Digital Experience that measures end-to-end user experience across key business applications, providing an easy-to-understand digital experience score for each user, application, and location within an enterprise.

In addition, the company provides workload segmentation solutions comprising Zscaler Cloud Security Posture Management that identifies and remediates application misconfigurations in SaaS, infrastructure as a service, and platform as a service to reduce risk and ensure compliance with industry and organizational benchmarks; and Zscaler Cloud Workload Segmentation, which is designed to secure application-to-application communications inside public clouds and data centers to stop lateral threat movement, as well as to prevent application compromise and reduce the risk of data breaches.

Its platform includes Zscaler Central Authority, Zscaler Enforcement Node, and Zscaler Nanolog Server modules.

Zscaler, Inc. serves customers in various industries, such as airlines and transportation, conglomerates, consumer goods and retail, financial services, healthcare, manufacturing, media and communications, public sector and education, technology, and telecommunications services.

The company was formerly known as SafeChannel, Inc., and changed its name to Zscaler, Inc. in August 2008. Zscaler, Inc. was founded in 2007 and is headquartered in San Jose, California.