Sumary of 2 Sizzling Hot Stocks to Buy Right Now:
- Today, we’re going to look at a healthcare tech company and a fast-growing cannabis business.
- 1. Veeva Systems It’s not often that the highly defensive healthcare sector and fast-growing cloud computing industry overlap, but investors can get the best of both worlds in Veeva Systems (NYSE:VEEV), which provides cloud services to life sciences companies.
- It also has a strong competitive advantage as one of only a handful of companies that provide cloud-based services exclusively for life sciences entities (i.
- And there’s considerable room for it to expand within its highly lucrative industry.
- Spending in the global cloud computing market is expected to exceed $832 billion by 2025, according to a 2020 report from ResearchAndMarkets.
- Another report by iHealthcareAnalyst forecasts that the healthcare cloud computing market will reach nearly $24 billion as of 2027. Veeva Systems began its fiscal 2022 on Feb.
- Veeva Systems stock is expensive, yes, but when you consider the company’s ability to operate profitably in all types of market environments and its long-term prospects within the context of the rapidly growing cloud services industry, that valuation becomes far more palatable.
- 2. Innovative Industrial Properties Innovative Industrial Properties (NYSE:IIPR) is another strong contender for investors trying to build market-beating portfolios.