10 Best Software Stocks to Buy According to Billionaires

4. 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.

In Q4 2024, Snowflake Inc. (NYSE:SNOW) reported product revenue of $943.3 million, reflecting a 28% year-over-year increase and surpassing the average expectation of $916 million. The company now has 580 customers spending more than $1 million over a trailing 12-month period, up from 542 in the previous quarter. With a rapidly growing customer base and a strong presence in the market, Snowflake Inc. (NYSE:SNOW) is well-positioned to capitalize on opportunities in the data analytics industry.

On March 10, D.A. Davidson analyst Gil Luria reaffirmed a bullish outlook on Snowflake Inc. (NYSE:SNOW), maintaining a Buy rating with a price target of $225. The consensus also reflects a positive sentiment toward the stock, with a 1-year median price target of $215, indicating a potential upside of 38%.