Cloud-based companies that sell to businesses are dealing with customer bases that are looking for ways to cut costs. Hiring freezes, layoffs, and other cost-cutting measures are becoming commonplace. For cloud infrastructure and software providers, this means customers are taking a hard look at their current suppliers and potentially putting the brakes on adopting new products.

Growth for cloud companies in general is going to be slower overall this year than it was during the pandemic. But that doesn't mean there aren't good opportunities for investors. Two cloud companies that have managed to maintain solid growth rates despite a tough economy are cloud infrastructure provider DigitalOcean (NYSE: DOCN) and data platform Snowflake (NYSE: SNOW).

Here's why investors should consider these fast-growing cloud stocks.

Continue reading

Source Fool.com