Since its IPO debut in September, some investors have flocked to the cloud data company Snowflake (NYSE: SNOW). And while the company could make a good long-term investment, the rapid rise in its share price has made the stock expensive, trading at 193 times the company’s price-to-sales.
Investors looking for fast-growing tech stocks without the nosebleed valuations should take a closer look at PayPal (NASDAQ: PYPL) and Appian (NASDAQ: APPN). Here’s why.
There’s nothing wrong with investing in high-flying tech stocks, but sometimes you can find a better bet by looking to companies with proven track records. PayPal is a leader in the digital payments market, it continues to add new users, and its share price has climbed 120% year to date.