3 Top Growth Stocks to Buy Right Now

As a growth-focused investor, I like to see a company’s top line expanding quickly. Of course, it’s necessary to look at the big picture, too. But in general, strong revenue growth tends to indicate that a company has a viable product or service and that it’s gaining market share…

When evaluating a potential investment, it’s also important to consider whether a company can keep growing quickly. Rapid expansion today means nothing if it’s not sustainable, at least to some extent.

Working from those criteria, stocks like Cloudflare (NYSE:NET)CrowdStrike (NASDAQ:CRWD), and Okta (NASDAQ:OKTA) look like good long-term investments. Here’s why these are three potential top growth stocks to buy right now.

1. Cloudflare: The edge cloud platform

Cloudflare provides both employee-facing and consumer-facing solutions, which are designed to improve the security, reliability, and performance of networks.

For instance, Cloudflare’s content delivery network (CDN) moves applications and websites closer to the end user. It may not seem like it, but it takes time for data to move through the internet, and by moving content to secure servers that are physically closer to users like you and me, Cloudflare makes the internet faster.

Clients also use Cloudflare to securely connect to the internet and corporate networks from any location, using any device. The company’s network-as-a-service offering empowers remote employees with a fast, secure experience, enabling them to access resources and applications from anywhere. Notably, Cloudflare supports integrations with identity providers like Okta and endpoint protection platforms like CrowdStrike, further bolstering security.

Compared to rivals like Amazon Web Services (AWS), Cloudflare is infrastructure agnostic, meaning it’s not biased toward any specific cloud environment. In fact, Cloudflare supports multi-cloud strategies by acting as an interconnect between different public clouds. More to the point, Cloudflare is faster and up to 75% less expensive than AWS.

Those advantages have helped the company add new customers quickly, which has powered strong revenue growth.

2017 2020 CAGR
Customers 49,309 111,183 31%
Revenue

$134.9 million

$431.1 million

47%

DATA SOURCE: CLOUDFLARE SEC FILINGS. CAGR = COMPOUND ANNUAL GROWTH RATE.

Cloudflare recently partnered with chipmaker NVIDIA to bring AI capabilities to its platform, furthering its ability to compete with large rivals like AWS. Now, developers will be able to build AI-powered applications at the edge, benefiting from NVIDIA’s computing power and Cloudflare’s speed. That should help the company continue to grow its business.

2. CrowdStrike: The intelligent cybersecurity cloud

CrowdStrike pioneered cloud security, building the industry’s first AI-powered, multi-tenant cybersecurity platform in 2011: CrowdStrike Falcon. That fancy phrase means its Falcon platform crowdsources data from all clients, then uses artificial intelligence to predict and prevent attacks across a range of devices. That’s a big deal since the…

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