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 computing 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.       Wix.com (WIX Quick QuoteWIX - Free Report)

Wix.com is a developer of a cloud-based platform that helps users create online content. Using Wix’s tools, one can relatively easily design a webpage or online portfolio. The company recently surpassed the 100 million registered user threshold, and its strength is underscored by its Zacks Rank #2 (Buy) ranking and its impressive EPS and revenue growth projections.

Wix’s full-year Zacks Consensus Estimate for earnings has gained 10 cents over the past 30 days, and although it remains a loss-making company, current estimates would represent EPS improvement of nearly 61%. Our consensus estimates also call for sales growth of nearly 43% this year. Looking ahead, the Zacks Consensus Estimate for Wix’s fiscal 2018 currently suggests a profit of 35 cents per share.

2.       Adobe Systems (ADBE Quick QuoteADBE - Free Report)

Adobe Systems is a provider of graphic design, publishing, and imaging software for Web and print production. The company’s main offering is its “Creative Cloud,” which is a software-as-a-service (SaaS) product that allows users to access all of Adobe’s tools at one monthly price. The stock currently has a Zacks Rank #2 (Buy).

Within the last 30 days, we have seen at least one positive estimate revision for Adobe’s current-quarter, next-quarter, full-year, and next-year earnings. After beating the Zacks Consensus Estimate by an average of nearly 8% in each of the trailing four quarters, Adobe will look to continue its momentum with another impressive report. Our consensus estimate for the quarter call for EPS growth of 40% on sales growth nearly 24%.

3.       j2 Global

j2 Global provides cloud-based communications and storage messaging services. j2 markets its services principally under the brand names eFax, eVoice, Electric Mail, Campaigner, KeepItSafe and Onebox. The company also provides software-as-a-service communication services and solutions to the business market.

The company has now posted three straight earnings beats, and despite the fact that it is more than 20 years old, our current consensus estimate call for sales growth of over 30% and earnings growth of nearly 15% this year. On top of its Zacks Rank #2 (Buy), j2 has also earned a VGM score of “A.”

Bottom Line

Cloud-based companies have been some of the best performing stocks in the tech sector this year, and these cloud stocks also boast strong fundamental metrics. If you’re looking to add tech stocks to your portfolio right now, this list is probably a good place to start.

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