10 Best SaaS Stocks to Buy According to Billionaires

3. Snowflake Inc. (NYSE:SNOW)

Number of Billionaire Investors: 18

Billionaire Holdings: $2.1 Billion

Number of Hedge Fund Holders: 85

Snowflake Inc. (NYSE:SNOW) is a cloud-based data platform that helps organizations efficiently store, analyze, and share data. Its Data Cloud enables businesses to consolidate data together in one secure and reliable place, driving innovation and valuable insights. The platform supports a variety of workloads, including data engineering, data science, and application development.

Snowflake Inc. (NYSE:SNOW) reported $986.8 million in total revenue, up 27% YoY, for Q4 2025 (FY ending in January). Product revenue, which make up majority of its revenue, rose 28% to $943.3 million, beating expectations of $916 million. The company now has 580 customers spending over $1 million annually, up from 542 last quarter. Looking ahead, product revenue is expected to grow 24% to $4.28 billion for FY 2026, slightly above estimates.

Robert W. Baird analyst William Power released a report on March 8, in which he maintained a Buy rating on Snowflake Inc. (NYSE:SNOW) with a $200 price target. The analyst cited its strong position in data storage and analytics as reason for his bullish stance. The company’s recent ‘Data for Breakfast’ event highlighted its AI-driven focus, particularly through its Cortex product for fast AI deployment. The analyst also believed that positive partner and customer feedback, along with over 400 new product capabilities in fiscal 2025, has strengthened Snowflake’s appeal among data engineers and scientists, supporting its growth potential.