3 Growth Stocks I’d Buy Right Now
Software has become more commonplace than ever. Whether it’s digitizing paper-based signatures with DocuSign (NASDAQ: DOCU), reimagining how we interact with our insurance carrier on Lemonade‘s (NYSE: LMND) mobile app, or changing the way we collaborate with our colleagues on Slack (NYSE: WORK), software is impacting just about every aspect of our lives.
But this trio of software companies are not just disrupting the status quo, they are providing lucrative opportunities for investors. Let’s look at why these three are growth stocks I’d buy right now.
DocuSign’s journey to eliminate pen and paper signatures has turned it into a $1.2 billion annual revenue powerhouse, but it’s really just getting started. With its 749,000 customers, management estimates that it has only tapped about 1% of the total number of businesses that could take advantage of its technology. With an impressive 45% year-over-year revenue growth rate in its most recent quarter ending July 31, 2020, it seems to be immune to the adverse economic effects of the coronavirus.