10 Best Cloud Computing Stocks to Buy Under $10

6. CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS)

Current Share Price: $8.92

Number of Hedge Fund Holders: 26

CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) offers a software-as-a-service (SaaS) platform for the property and casualty (P&C) insurance and automotive industries. The platform connects insurers, repair shops, parts suppliers, and customers to simplify claims processing, repairs, and customer service workflows.

In its latest results, CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) reported FY 2024 revenue of $944.8 million, a 9% year-over-year increase. Adjusted EBITDA rose 12% to $397.4 million, implying a 42% margin. For FY 2025, the company has guided revenue to range between $1.06 billion and $1.07 billion, implying over 12% year-over-year growth at the midpoint. The reported EBITDA margin is projected to be about 200 basis points lower due to the integration of EvolutionIQ, which is currently operating at an EBITDA loss. However, the adjusted EBITDA margin is still expected to reach 43%.

In January 2025, CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) completed the acquisition of EvolutionIQ, which it had announced in December 2024 for $730 million. This acquisition is expected to support its expansion into the disability and workers’ compensation markets and underpin its AI and casualty solutions. Management notes that the insurance sector is still in the early phases of digital transformation and thus presents strong growth opportunities in the coming years.