Pretty much any company associated with cloud computing is getting investor interest, including Cloudera (CLDR). On Wednesday, Cloudera’s Relative Strength (RS) Rating climbed to 71, up from 65 the prior session.
The RS Rating means that Cloudera has outperformed 71% of all stocks, regardless of industry group, over the past 52 weeks.
Cloudera offers a platform for data management and advanced analytics, as well as machine learning, a form of artificial intelligence.
There is a real dichotomy between how it’s performing and its stock price. Cloudera is putting up some stunning profit number, growing 127%, 138% and most recently 600% over the past three quarters.
However, over that same period sales growth has slowed from 46% to 12%, then 9%. Its stock has more than doubled from 4.76 on March 18 to an 11.18 close, up 0.5% Wednesday. Still, many other growth stocks have seen even stronger growth in the post-Covid-crash period.
Over 100 years of market history reveals that the market’s biggest winners often have an 80 or better RS Rating in the early stages of their moves. See if Cloudera can continue to rebound and clear that threshold.
The company holds the No. 14 rank among its peers in the Computer Software-Special Enterprise industry group. Mitek System (MITK), SPS Commerce (SPSC) and Alarm.com (ALRM) are among the top 5 highly rated stocks in the group.
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While it’s not currently an ideal time to jump in, see if Cloudera stock goes on to form a base and break out.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD’s unique RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock’s price performance over the trailing 52 weeks compares to other publicly traded companies.
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