This year has certainly been one like no other. Pandemic-induced fear resulted in one of the fastest declines in stock market history, followed by one of the most rapid recoveries on record. The recent introduction of at least two coronavirus vaccines has given people hope and pushed the major stock market indexes to new all-time highs.
It’s still unclear when this pandemic-influenced economy will actually get back to normal and uncertainty still reigns. Yet two things are certain: Investing in quality stocks over years or perhaps decades remains the clearest path to generate wealth over the long term, and there are still stocks worth buying, even as the market is setting new benchmarks.
Assuming you have a sufficient emergency fund built up and $10,000 (or less) that you don’t expect to need over the next five to 10 years, here are three companies that are set up to flourish in the years and decades to come.
1. CrowdStrike: Providing digital safety in an uncertain world
There’s no denying the massive shift to remote work that occurred as the result of the pandemic. The scattering of the workforce presented unprecedented challenges for IT departments trying to protect businesses and employees from the growing threat of cyber-intrusion. CrowdStrike Holdings (NASDAQ:CRWD) was there to answer the call.
Stopping cybersecurity threats before they take hold is key to the cloud-native company’s offering. This comes courtesy of its Falcon platform, which focuses on protecting the endpoints — servers, desktops, laptops, and mobile devices — from recognized threats.
But its work doesn’t stop there. CrowdStrike’s cutting-edge protection uses cloud analytics, artificial intelligence (AI), and real-time visibility to power its Threat Graph Breach Prevention Engine. These sophisticated algorithms not only detect breaches and stops them in their tracks, but they also learn and improve over time, harnessing the power of AI to stop the next generation of threats. As new customers join the fold, its network becomes stronger.
Business is booming. For the first nine months of 2020, CrowdStrike’s revenue is up 85% year over year. This was driven by annual recurring revenue that jumped 81% and the addition of net new subscription customers that increased 88%. The company has yet to produce a profit, but the results are moving in the right direction, as CrowdStrike cut its losses by nearly 62% so far this year.
CrowdStrike is well-positioned to not only benefit from the ongoing need for remote work but to continue to provide cybersecurity in an increasingly dangerous digital world.
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