In the matter of just a few years, “the Cloud” has evolved from the new feature that your grandmother just can’t quite seem to understand to one of the main factors driving growth in the technology sector. Cloud computing is now an essential focus for software-related companies, and cloud stocks have piqued the interest of many tech-focused investors.
New technologies and changing consumer behavior have changed the shape of the technology landscape, and an industry that was once centered on the personal computer has adapted to survive in the world of mobile computing and the Cloud. The markets have been paying attention, and some of the best tech stocks have been those that are either primarily cloud-based companies, or those that have shown growth in their cloud operations.
With this in mind, we’ve highlighted three stocks that are not only showing strong cloud-related activity, but also strong fundamental metrics. Check out these three cloud stocks to buy right now:
1. Appfolio, Inc. (APPF – Free Report)
AppFolio offers cloud-based software solutions for the property management and legal industries. The company’s AppFolio Property Manager is a leading solution for property management, while its MyCase application is ideal for practitioners and small law firms. The young company has posted its first profits in the last two-quarters, surpassing the respective Zacks Consensus Estimates by triple-digit percentages in each.
For the current fiscal year, we expect Appfolio to post EPS growth of 367% and sales growth of 32%—two impressive rates that have helped the stock earn an “A” grade in the Growth category of our Style Scores system. Besides its growth prospects, Appfolio is a surging momentum pick, having already gained about 90% this year and currently resting near its 52-week high. As of right now, APPF is a Zacks Rank #1 (Strong Buy).
2. Tableau Software (DATA – Free Report)
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