Top 10 🚀☁️ Cloud Growth Stocks to Buy on the Next Dip 🔥💰🔥 Vol 2 of 2

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Last time, I covered stocks 6-10 in my top 10 cloud stocks. Today, I will finalize the series with my top 5 high-conviction cloud stocks to buy on the next dip. These are high-growth software-as-a-service (SaaS) and cloud stocks that I currently hold in my $1.6 million long-term investing portfolio.

Digital transformation, artificial intelligence (AI), cybersecurity, machine learning, centralized analytics, customer relationship management, enterprise resource planning (ERP), connected TV (CTV), streaming, work from anywhere, the gig economy, and other secular growth trends fuel SaaS and cloud infrastructure. But what are the best stocks to buy in order to ride these waves and boost your portfolio? 

Here are my top 5 cloud growth stocks. Please make sure to watch the below video for additional information as well as several bonus picks!

#5. Zscaler (ZS) offers customers a security stack as a cloud service, which offers lower cost and complexity from “old-school”, traditional gateway methods. Zscaler’s global infrastructure brings internet gateways closer to users all around the world, creating a faster and more streamlined experience. The company enables work-from-anywhere cloud security in a highly scalable fashion, and they deserve a top spot on the list. 

#4. Datadog (DDOG) provides monitoring and analytics tools that enable IT teams insights from anywhere and at anytime. Datadog, like Zscaler, is also very scalable. In fact, most cloud-native providers are highly scalable, which is part of the reason they rank high on the list.

Datadog brings information together from across an entire organization into a simple dashboard. Companies who leverage Datadog enjoy benefits such as improved user experience, faster resolutions to interruptions, and overall better business decisions. 

Datadog has continuously improved their product suite, as well as their partnership network. In fact, Datadog recently announced a new partnership with Microsoft (MSFT) Azure, which allows streamlined experiences for configuration, purchasing, and even managing Datadog inside the Azure portal. Additionally, Datadog announced a partnership with Salesforce on July 1, which provides real-time monitoring and threat detection across the Salesforce (CRM) platform.

#3. Snowflake (NYSE: SNOW) offers what they call a "data warehouse-as-a-service” (DaaS), which is a cloud-based data storage and analytics solution. Interestingly, Snowflake is not a Software-As-A-Service (SaaS) company, since their revenues are over ninety percent consumption-based. Snowflake reduces cost and improves agility. Their data platform is unique for the fact that it is not built on an existing big data platform like Hadoop. 

As you may have heard around the time of the IPO, Snowflake is a Berkshire Hathaway (BRK.A) (Warren Buffett) backed company. Snowflake's clients include Apple (AAPL), Nike (NKE) , Mastercard (MA), and many others. Snowflake is all about big data, and they deserve a top spot on the list. 

#2. Cloudflare’s (NET) mission is to help “build a better internet”. Cloudflare is actually a network. In fact, it’s one of the larger networks on the planet. Cloudflare enables a faster and more secure internet for anyone with an internet presence. Cloudflare has data centers across the globe, and they boast an astonishing 25 million internet properties, which grows daily. To date, Cloudflare handles over 17 percent of the Fortune 1000 internet requests, and the company handles 25 million HTTP requests every second on average. Cloudflare is all about the future of the internet, and it belongs in my portfolio as a long-term investment. 

#1 Crowdstrike (CRWD) is the leader in endpoint security. Crowdstrike’s Falcon platform stops breaches through both prevention and response, known as endpoint detection and response (EDR). It uses sensors that are agent-based and can be installed on Mac, Liunx or Windows. Crowdstrike relies on a cloud-hosted SaaS platform that manages data, prevents, detects, and responds to threats. Both malware and non-malware attacks are covered via Crowdstrike’s cloud-delivered technologies in a lightweight solution. 

Cyberattacks continue to be a major threat, and the total addressable market for cybersecurity is enormous. Crowdstrike has been a monster since its IPO in 2019, growing into a $60 billion market cap company. With that said, I think Crowdstrike is just getting started, and they stand tall as my top, high-conviction cloud/SaaS stock for the next decade.

If you want deeper-dive analysis on these stocks, please watch the video below. I cover the above stocks and many others in the cloud space.  These growth stocks can boost your long-term investing portfolio, so please check out the below video and subscribe to make sure you stay on top of this sector. 

#cloudstocks #growthstocks #stockstobuy #CRWD #NET #SNOW #ZS #DDOG

Not financial advice. Cheers! -Eric

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