12 Best Big Data Stocks To Buy According to Hedge Funds

3. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Holders: 71

Snowflake Inc. (NYSE:SNOW) is a cloud-based data storage company whose vision is a world with unlimited access to governed data. The firm created the Data Cloud which is a global network where numerous organizations mobilize data with close to unlimited scale, concurrency, and performance. Snowflake’s platform is the engine powering and enabling access to the Data Cloud thereby creating a solution for collaboration, applications, cybersecurity, data engineering, data science, data warehousing, data lake, and unistore.

While every organization struggles with silos, Snowflake comes to the rescue. Organizations can unite their siloed data, discover and securely share governed data, and execute diverse analytic workloads inside the Data Cloud. Sridhar Ramaswamy, CEO of Snowflake, attributes the drive to produce product cohesion and ease of use as the factors that have built Snowflake into the easiest and most cost-effective enterprise data platform. This enables the firm to win new customers and remain competitive. As of the third quarter, Snowflake had the privilege of having 754 Forbes Global 2000 customers.

Snowflake Inc. (NYSE:SNOW) is pursuing a strong combination of growth and scale with a rise in annual product revenue and quarterly product revenue over the year. For the third quarter of fiscal 2025, the growth remained at scale with 29% year-over-year product revenue growth. The firm maintains world-class retention with a net revenue retention rate of 127% as of October 31, as well as a large customer momentum with 542 customers with trailing 12-month product revenue over $1 million.

The firm is helping its customers drive down costs significantly with multiple customers stating that they have saved at least 50% migrating to Snowflake from other providers. Thus, Snowflake Inc. (NYSE:SNOW) is another top big data stock with its leading enterprise data platform and business momentum at a global scale. As of Q3, the stock is held by 71 hedge funds.