Buy These Stocks Instead of Crypto

As time passes, cryptocurrencies gain popularity. Last year the cryptocurrency Shiba Inu had an excellent performance, but some people remain skeptical about this new kind of currency.

Don’t worry if you wish to expand your portfolio but are unsure about crypto. Check these growing companies worth buying.

Veeva Systems

The company provides cloud-based data storage and management and regulatory compliance problems for companies related to life sciences.

Veeva is great thanks to its day-to-day operations, easy and quick access, and its regulations easily adapt to the phase the client’s products are.

The company has retention rates between 120% and 130%, meaning it tends to add clients instead of losing them. It has expected a revenue of $3 billion by 2025.

Veeva’s goal seems achievable, but what is important is the company’s ability to address challenges and gain many more new customers.

Lemonade

It is an insurance company that uses artificial intelligence to make the process of signing the policy and filing claims faster. With Lemonade, claims are paid in three seconds, while other companies usually take days or weeks.

Because the cost of insurance products goes up as time goes by, younger audiences are the best fit. The goal is to retain younger generations as long as possible, gradually benefiting the company and the customers.  

The company has been successful in gaining new customers and growing its revenue. In the third quarter of last year, the company acquired 1.4 million customers, causing a revenue of $35.7 million. But Lemonade is not profitable yet.

Last year the company had an enormous net loss, their numbers were red, and the shares dropped 82.3%. But thankfully, there’s hope for Lemonade.

The company is expanding to new markets, such as home, pet, and auto insurance. With that, Lemonade expects clients to spend about $1 billion annually on car insurance.

As more young people start buying insurance policies, the market will only grow. So be sure that no matter the struggles the company has gone through, Lemonade is an excellent long-term bet.