5 Best Big Data Stocks to Buy Now

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1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 258

Microsoft Corporation (NASDAQ:MSFT) offers Microsoft Azure, one of the world’s best-in-class cloud platforms, that is used by enterprises all around the world for data analytics. On September 28, Microsoft Corporation (NASDAQ:MSFT) announced a strategic collaboration with leading automation company UiPath (NYSE:PATH) to develop cloud automation solutions for enterprises.

On September 22, Wells Fargo analyst Michael Turrin reiterated a buy-side Overweight rating and his $350 price target on Microsoft Corporation (NASDAQ:MSFT). This September, Morgan Stanley analyst Keith Weiss maintained his $354 price target and Overweight rating on Microsoft Corporation (NASDAQ:MSFT).

At the close of Q2 2022, 258 hedge funds held stakes in Microsoft Corporation (NASDAQ:MSFT). The total value of these stakes amounted to $56 billion. As of June 30,  Fisher Asset Management owns over 28.6 million shares of Microsoft Corporation (NASDAQ:MSFT) and is the most prominent shareholder in the company. The investment covers 5.21% of Ken Fisher’s 13F portfolio.

Here is what Baron Funds had to say about Microsoft Corporation (NASDAQ:MSFT) in its second-quarter 2022 investor letter:

“Shares of Microsoft Corporation, a leading global provider of software solutions, declined 16.6% in the quarter along with the broader software group as well as due to growing concerns of a potential macro-driven slowdown. This is despite the company posting strong quarterly financial results and successfully absorbing headwinds from the war in Ukraine. The company had 21% revenue growth, 23% operating income growth, and 35% growth in Microsoft Cloud (all year-over-year in constant currency), which now represents 47% of total revenues.

As discussed above, we continue to believe Microsoft remains a durable and growing business as companies across all industries look to digitally transform, taking advantage of the continuously expanding solution set Microsoft has to offer.”

You can also take a look at Top 10 Cloud Stocks To Buy and 13 Best Cloud Stocks To Buy Now.

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