Most stocks will not make you rich soon. Many simply do not have enough growth opportunities. Others have the potential to generate tremendous wealth but are too risky.
However, there are some stocks that have clear paths to growth without taking too much risk. These are the types of stocks that could possibly make you rich. What actions fit the invoice? Here are three growth stocks you can buy right now that could drive you crazy in the long run.
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1. Alteryx
Imagine you have a lot of data to analyze. There is so much data from so many sources that you should expect help from programmers. And then you end up importing the data into spreadsheets to work with them more easily. There is a lot of time and extra effort. Alteryx (NYSE: AYX) provides a solution for this all too common scenario.
The company’s software is “democratizing data and analytics.” No programming is required. Spreadsheets are not required. The entire data analysis process from start to finish is automated. As expected, the Alteryx platform has become very popular, especially with large corporations. The company now claims more than 6,400 customers, including 37% of Global 2000.
Don’t worry too much about Alteryx’s high valuation. Shares are currently trading at nearly 25 times sales. But with a $ 50 billion per year stadium market opportunity and a virtually must-have product, Alteryx should have no trouble generating growth that makes the stock worth its premium price.
2. Quickly
You probably won’t have to imagine yourself benefiting from Quickly‘s (NYSE: FSLY) technology. You probably already have it. The company’s content delivery and computer network (CDN) platforms accelerate the delivery of data and applications from the cloud to a long list of customers, including The New York Times, Pinterest, Shopifyand Yelp.
The COVID-19 pandemic is causing companies to move to the cloud like never before. Market researcher IDC predicts that three-quarters of all data will be created and processed at the edge of the network (the point where companies’ networks connect to the Internet) by 2022. That quickly sets tremendous growth, which is already giving out.
Fastly is a world-class player to watch in both cutting-edge computing and CDN, two markets that are expected to top $ 17 billion each year for years to come. The company’s opportunities and technological advantages should make its high price (shares trade at 38 times sales) less worrying.
3. Health guardant
Many cancers are currently diagnosed late in the game. Sometimes it is too late for the treatment to be effective. But envision a world where almost any type of cancer can be detected through a simple blood test done at your annual checkup. Health guardant (NASDAQ: GH) he is working hard to make that world a reality.
The company already markets two liquid biopsies, which are tests that detect DNA fragments of cancer cells in the blood. Guardant360 is used to determine the best therapy for patients with advanced stage cancer. GuardantOMNI helps biotech and pharmaceutical companies evaluate patients for clinical trials of cancer drugs. But Guardant Health is testing new liquid biopsies that could enable early detection of cancer that’s only a dream right now.
Guardant Health’s addressable market for its products could exceed $ 50 billion annually. The company’s market capitalization is currently around $ 8 billion. His price-to-sales ratio of 31 is at a nosebleed level. But 10 years from now, I suspect investors who didn’t buy Guardant Health at their seemingly expensive valuation would want them to. You often have to pay for stocks that have the potential to make you very rich, stocks like Alteryx, Fastly and Guardant Health.
