The Zacks Consensus Estimate for 2020 earnings stands at 88 cents per share, up 14.3% in the past 60 days. The company's plan to shift to hiring in low-cost regions is likely to boost profitability. Further, integration with leading applications like Zoom, Slack and Atlassian will likely expand the Dropbox paying user base.Īdditionally, Dropbox's innovative "Virtual First" initiative, under which employees will work from home majority of the time and will meet once in a while for team collaboration, is expected to lower cost. Solid demand for cloud storage, triggered by the coronavirus-led work-from-home wave, has been acting as a tailwind for the company. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. This Zacks Rank #2 (Buy) company's strong focus on product innovation and introduction of solutions like updated Dropbox Spaces, HelloSign, Passwords, Vault and Computer Backup are anticipated to expand its user base. The company is riding on growing demand for its cloud-based team collaboration tools through which users can share files, photos, videos, songs and spreadsheets. Here we discuss four stocks that have benefited from the work-from-home trend and are well poised to gain from the solid prospects of continued remote working.ĭropbox stock has spiked 28% in the year-to-date period. This is driving demand for cloud-based security service solutions. Additionally, usage of own devices and equipment that are not properly configured or can be infected with malware during teleworking or accessing information from cloud raises possibilities of security breaches for enterprises. Moreover, growing usage of cloud-based services is aggravating security lapses, inducing risks of hacking and phishing mails in the garb of coronavirus as content of the subject. This will need continuation of work from home, which in turn would continue to drive demand for video conferencing, productivity and collaboration software.
Needless to say, this new normal is spurring demand for computer hardware, peripherals, network software and cloud business.Īs vaccination programs will take several months to cover a major portion of the global population, social-distancing measures are required to keep the infection rate flat.
Although working from home isn't a new phenomenon, it became a necessity amid the virus outbreak.Įmployees too are now comfortable working remotely. The pandemic has changed the employment landscape. Providers of work-from-home software, storage, security and services have benefited the most from the coronavirus crisis. These 4 Work-from-Home Stocks Should Keep Soaring in 2021
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