5 Best Data Stocks to Buy Now

3. Oracle Corporation (NYSE: ORCL)

Number of Hedge Fund Holders: 52

Oracle Corporation (NYSE: ORCL) provides products and services for enterprise information technology environments across the globe. The Oracle cloud software includes a range of cloud software applications like Oracle enterprise resource planning cloud. The company ranks 3rd on our list of the best data stocks to buy now.

In their first quarter 2021 report, the company reported an EPS of $0.93 versus estimates of $0.86 and a revenue of $9.37 billion representing a 3.61% growth year over year. The company also had a gross profit margin of 80.59%. The stock gained 17.38% in the past 6 months and 19.8% year to date.

By the end of the first quarter of 2021, 52 of the 866 hedge funds tracked by Insider Monkey held stakes in Oracle Corporation (NYSE: ORCL). The value of their stakes was roughly $2.89 billion.

Ariel Investments, an investment management firm, mentioned Oracle Corporation (NYSE: ORCL) in their first quarter investor letter. Here’s what they said:

“A temporary factor might be a downturn in the high-yield bond market driving up LBO financing costs for the decline in 2021 GAAP revenue for Oracle Corporation (ORCL) due to a change in accounting methods. In all these examples, stock prices were driven well-below our calculations of intrinsic value. We invested in each company with good outcomes. Later, we will offer instances when this strategy is not successful.”