When any company lands a large client, it can mean big things for the bottom line. If you’re a newly IPOed company that starts winning the business of companies that have been public for years or even decades, things are no different.
In no particular order, here’s 3 relatively new growth stocks doing business with much larger, older companies Wall Street has known for years.
Impinj Inc. (NASDAQ:PI)
Having IPOed back in July of 2016, this company is about to celebrate its 1-year anniversary of being a public company. Impinj’s RAIN radio frequency identification solutions are used by major companies from Macy’s (NYSE:M) to Airbus (OTC:EADSY) use. Radio frequency identification devices, a.k.a. RFID technology, can be used to identify and track just about anything. From aircraft parts moving along an assembly line to expensive dresses, companies are utilizing Impinj’s solutions to get a better handle on their inventory, logistics, and more. Incase you were unsure whether or not Impinj was a growth stock, Next Century Growth Investors, LLC owns over 189,000 shares as of recent filings, which is worth over $8.6 million as of the close on July 12th, 2017.
Twilio Inc. (NYSE:TWLO)
Next on our list of growth companies winning business from big established companies is Twilio Inc. Not to be confused with Trulia (NYSE:TRLA), this tech company is taking the cloud communications industry by storm. Responsible for handing the cloud-backbone for major companies like Nordstrom, Inc. (NYSE:JWN) and Coca Cola Co. (NYSE:KO), Twilio’s technology has been rapidly adopted by older, larger companies. Even Uber uses them! Having priced its IPO on June 23rd, 2016, Twilio is also close to celebrating its 1-year anniversary as a public company.
Nutanix Inc. (NASDAQ:NTNX)
Toyota (NYSE:TM), Hyundai (OTC:HYMLF), as well as the United States Department of Defense can all call themselves customers of Nutanix Inc.’s integrated server-storage solutions for storing their big data. When data banks grow rapidly, it’s way easier to scale with Nutanix than to go out and expand your in-house storage. Having gone public back on September 30th, 2016, this company is still in it’s early stages on the public markets. Having IPOed at $16 per share, this stock soared past $46 dollars in its first few weeks. Finally settling back down under $18, this stock is finally available at a price primed for growth.
Smaller companies that win big business from larger companies can be a great signal for growth. As those larger companies grow, it means even more for smaller service provider companies like the ones listed above. For more growth stock ideas, be sure to subscribe to our daily newsletter!
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