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In a matter of just a few years, “the Cloud” has evolved from a budding new tech feature 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. Cloudera Inc.
Cloudera is a provider of cloud-based big data solutions. The firm delivers an open-source distribution platform that enables efficient and secure data management and analytics. Cloudera is also focused on being scalable across large organizations, and its client list includes Facebook and Google (GOOGL - Free Report) .
This stock has been a bit of a rollercoaster since debuting in April 2017, but a clear path closer to profitability and strong revenue growth make this look attractive right now. Per share losses are expected to improve 26.1% this year, and the company has a long-term projected earnings growth rate of 8%.
Earnings estimates have also been revised higher recently, lifting CLDR to a Zacks Rank #2 (Buy). Meanwhile, Cloudera is expected to finish the year with revenue growth of 21.7%, according to our Zacks Consensus Estimates.
3. j2 Global, Inc.
j2 Global provides cloud-based communications, storage messaging services, and digital media. Its enterprise services include eFax, eVoice, KeepItSafe, and Onebox, and it owns popular media companies like IGN, Mashable, and PC Mag. The company also provides software-as-a-service communication services and solutions.
JCOM sports a Zacks Rank #2 (Buy) and could be a solid value play right now. Shares are trading at just 11.7x forward earnings, which marks a steep discount to the industry’s average. The stock also has a PEG of 1.5, so investors are getting its earnings growth outlook at an attractive price as well. J2 also pays out a healthy dividend and presents a yield of about 2.3%.
Veeva makes cloud-based solutions for the pharmaceutical and life sciences industries. Its main offerings are presented in a software-as-a-service model and delivers industry-specific tools for CRM, content management, and many other enterprise applications. Shares of Veeva currently hold a Zacks Rank #1 (Strong Buy).
VEEV has emerged as a hot growth and momentum stock this year, adding more than 50% before a recent market-wide pullback amid strong earnings improvements. The firm is projected to finish its current fiscal year with earnings growth of 59.1% and has a long-term expected growth rate of 19.3%. Veeva is also generating cash flow growth in excess of 86.6% currently.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
3 Cloud Stocks to Buy Right Now
In a matter of just a few years, “the Cloud” has evolved from a budding new tech feature 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. Cloudera Inc.
Cloudera is a provider of cloud-based big data solutions. The firm delivers an open-source distribution platform that enables efficient and secure data management and analytics. Cloudera is also focused on being scalable across large organizations, and its client list includes Facebook and Google (GOOGL - Free Report) .
This stock has been a bit of a rollercoaster since debuting in April 2017, but a clear path closer to profitability and strong revenue growth make this look attractive right now. Per share losses are expected to improve 26.1% this year, and the company has a long-term projected earnings growth rate of 8%.
Earnings estimates have also been revised higher recently, lifting CLDR to a Zacks Rank #2 (Buy). Meanwhile, Cloudera is expected to finish the year with revenue growth of 21.7%, according to our Zacks Consensus Estimates.
3. j2 Global, Inc.
j2 Global provides cloud-based communications, storage messaging services, and digital media. Its enterprise services include eFax, eVoice, KeepItSafe, and Onebox, and it owns popular media companies like IGN, Mashable, and PC Mag. The company also provides software-as-a-service communication services and solutions.
JCOM sports a Zacks Rank #2 (Buy) and could be a solid value play right now. Shares are trading at just 11.7x forward earnings, which marks a steep discount to the industry’s average. The stock also has a PEG of 1.5, so investors are getting its earnings growth outlook at an attractive price as well. J2 also pays out a healthy dividend and presents a yield of about 2.3%.
3. Veeva Systems Inc. (VEEV - Free Report)
Veeva makes cloud-based solutions for the pharmaceutical and life sciences industries. Its main offerings are presented in a software-as-a-service model and delivers industry-specific tools for CRM, content management, and many other enterprise applications. Shares of Veeva currently hold a Zacks Rank #1 (Strong Buy).
VEEV has emerged as a hot growth and momentum stock this year, adding more than 50% before a recent market-wide pullback amid strong earnings improvements. The firm is projected to finish its current fiscal year with earnings growth of 59.1% and has a long-term expected growth rate of 19.3%. Veeva is also generating cash flow growth in excess of 86.6% currently.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>