5 Best Cloud Stocks to Buy Now

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In this article, we’re going to look at the 5 best cloud stocks to buy now. To see more stocks and get a better understanding about why you should invest in the cloud industry, head over to 12 best cloud stocks to buy now.

5. Adobe Inc (NASDAQ:ADBE)

Another stock that made the list of the best cloud stocks to buy now is Adobe Inc (NASDAQ:ADBE). Known for its suite of products used for creation and publication of content, Adobe Inc (NASDAQ:ADBE) more than a decade ago embarked on a journey to transform itself into a cloud-based provider of software and services. In the last quarter, Adobe Inc (NASDAQ:ADBE)’s Creative Cloud generated revenue of $2.91 billion and its document cloud delivered $685 million in revenue. All in all, Adobe Inc (NASDAQ:ADBE) reported EPS of $4.10 and revenue of $4.89 billion, beating the estimates by $0.12 and $23 million, respectively.

During the third quarter of 2023, Adobe Inc (NASDAQ:ADBE) saw an increase in popularity among hedge funds in our database. In this way, 112 funds reported bullish stakes in the company as of the end of September, up by three over the quarter.

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