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Infra Built in ZIRP '25: Digital Infra
7 tickers · $117.30B total market cap
Group: Infra Built in ZIRP
As of Spring 2025, the investment thesis for digital infrastructure companies built during the Zero Interest Rate Policy (ZIRP) era, such as TWLO, FSLY, ZM, WDAY, HUBS, DOCU, and OLO, is cautiously optimistic. These companies are leveraging the infrastructures developed with cheap capital to capture market share and deliver improved financial performance. However, the current high-interest rate environment poses significant challenges, necessitating disciplined cost management and strategic innovation to sustain growth.
Infra Built in ZIRP '25: Digital Infra tracks 7 publicly listed stocks in this theme: DOCU, FSLY, HUBS, OLO, TWLO, WDAY, ZM. See the constituent table for details.
Thesis update: 2025-04-01
Constituents
Build 20260520T081747
| Company | Previous Quarter Report Date | Next Expected Report Date | Last Quarter Earnings Move % | Earnings Move % | Intra-Quarter Move % | Since Last Report % | Market cap | Weight |
|---|---|---|---|---|---|---|---|---|
Workday, Inc.WDAY | 02/24/2026 (AMC) | 05/21/2026 (AMC) | 6.82% | — | -2.86% | — | $34.29B | 14.2857 |
Twilio Inc.TWLO | 04/30/2026 (AMC) | 04/30/2026 (AMC) | 2.35% | 30.11% | 31.03% | 6.88% | $29.74B | 14.2857 |
Zoom Communications, Inc.ZM | 02/25/2026 (AMC) | 05/21/2026 (AMC) | -13.45% | — | 28.93% | — | $28.70B | 14.2857 |
HubSpot, Inc.HUBS | 05/07/2026 (AMC) | 05/07/2026 (AMC) | 16.49% | -16.08% | -0.05% | 5.50% | $10.66B | 14.2857 |
DocuSign, Inc.DOCU | 03/17/2026 (AMC) | 06/04/2026 (AMC) | 0.44% | — | 1.06% | — | $9.60B | 14.2857 |
Fastly, Inc.FSLY | 05/06/2026 (AMC) | 05/06/2026 (AMC) | 96.13% | -39.74% | 72.89% | -16.10% | $2.56B | 14.2857 |
Olo Inc.OLO | 08/04/2025 (AMC) | — | 0.29% | — | -1.16% | — | $1.74B | 14.2857 |
| Average | 15.58% | -8.57% | 18.55% | -1.24% | $16.76B | 14.2857 | ||
| Median | 2.35% | -16.08% | 1.06% | 5.50% | $10.66B | 14.2857 | ||
| Std Dev | 33.91% | 29.01% | 25.95% | 10.52% | $12.73B | 0.0% | ||
| Min | -13.45% | -39.74% | -2.86% | -16.10% | $1.74B | 14.2857 | ||
| Max | 96.13% | 30.11% | 72.89% | 6.88% | $34.29B | 14.2857 | ||
| % Positive Tickers | 85.71% | 33.33% | 57.14% | 66.67% |
* Provisional value: before LstRpt% reaches its 2-day post-report lock window (BMO/AMC adjusted), EarningsPerf is calculated from current vs pre-report and then locks to final LstRpt%.