Statistically, April is the best month for stocks, averaging a 1.5% gain from 1980 to 2018. However, I’m less interested in how a stock performs over a month or a single year. Businesses don’t decide to maximize sales or profits for an individual month to watch their long-term prospects crumble.

But even taking a long-term view, there are still good deals to be had right now, and two stocks I’m planning on buying in April are Cloudflare ( NET -0.17% ) and MercadoLibre ( MELI -1.99% ). Their share prices are down more than 40% from their all-time highs despite having attractive business prospects.

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Cloudflare

As more of the global population gains access to the internet, businesses and other entities must launch websites to serve their customer base, or the competition will succeed. However, Cloudflare can improve speed and security even for geographies with well-developed internet infrastructure. 

The company allows anyone to host a website through its cloud, hybrid, or on-premise offering. Because it takes care of the technology, customers can have top-notch website speed. Additionally, Cloudflare provides cybersecurity for the customers on its servers.

Currently, Cloudflare has data centers in more than 250 cities globally, each of which stores code for customers on its cloud website hosting service. Anyone accessing a website is immediately routed to the nearest data center, speeding up the customer experience. With plans to expand into more than 1,000 locations, Cloudflare is just getting started with its global network.

From the business side, Cloudflare had a successful 2021. Revenue grew 52% during the year to $656 million, and its large customer cohort — those with more than $100,000 of annualized revenue — increased 71% to 1,416. Although the company has more than 140,000 paying customers, the 1,416 largest customers account for 54% of total revenue. Large customer growth will be a crucial metric to watch when Cloudflare reports…

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