Published on 19 Sep 2024 on Insider Monkey · via Yahoo Finance
Blackbaud, Inc. (BLKB): Why Are Short Sellers Bullish On This Cloud Stock Now?
We recently compiled a list of the 10 Best Cloud Stocks To Buy According to Short Sellers. In this article, we are going to take a look at where Blackbaud, Inc. (NASDAQ:BLKB) stands against the other cloud stocks.
The cloud computing market is one of the fastest growing in the technology industry as the ubiquity of the internet allows business to digitally outsource their functions to reduce investment costs and access specialized services. Estimates show that the cloud computing market was worth $480 billion in 2022, and despite its heft, it is expected to grow at a compounded annual growth rate (CAGR) of 17% to be worth a whopping $2.2 trillion by the end of 2032. The three segments of the cloud computing industry are infrastructure as a service (IaaS), software as a service (SaaS), and platform as a service (PaaS).