In this article we discuss the 5 best data socks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Data Stocks to Buy Now.
5. Alteryx, Inc. (NYSE: AYX)
Number of Hedge Fund Holders: 35
Alteryx, Inc. (NYSE:AYX) is a tech company providing end-to-end analytics on their platform for data analysts and scientists. The company operates globally and its analytic process automation software platform incorporates Alteryx Designer which helps with data profiling and blending. The company ranks 5th on our list of the best data stocks to buy now.
Alteryx, Inc. (NYSE:AYX) Q1 EPS was -$0.08 versus estimates of -$0.23 for that quarter. The company also reported a $118.76 million revenue representing a 12.1% growth year over year. Alteryx, Inc. (NYSE:AYX) also had $571.5 million in sales, representing a 15.38% growth year over year.
By the end of the first quarter of 2021, 35 of the 866 hedge funds tracked by Insider Monkey held stakes in Alteryx, Inc. (NYSE:AYX). The value of their stakes was roughly $749 million.
4. International Business Machines Corporation (NYSE: IBM)
Number of Hedge Fund Holders: 41
International Business Machines Corporation (NYSE: IBM) is a company providing integrated solutions and services, and operating across the globe. The Cloud and Cognitive Software segment in the company provides software for domain-specific solutions in a range of areas. The company ranks 4th on our list of the best data stocks to buy now.
International Business Machines Corporation (NYSE: IBM) entered into a five-year partnership with Hartree Centre research facility in the UK for the establishment for the Hartree National Centre for Digital Innovation this June. The partnership is worth over $290 million.
Earlier in June, Credit Suisse added IBM to its top picks of 2021 list. The firm said that these stocks have the “highest conviction combined with the least demanding market expectations.”
By the end of the first quarter of 2021, 41 of the 866 hedge funds tracked by Insider Monkey held stakes in International Business Machines Corporation (NYSE: IBM). The value of their stakes was roughly $1.36 billion.
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.”
2. salesforce.com, inc. (NYSE: CRM)
Number of Hedge Fund Holders: 91
Salesforce.com, inc. (NYSE: CRM) is a cloud computing solutions developer. The company focuses on customer relationship management across the globe. It ranks 2nd on our list of the best data stocks to buy now.
On June 9, salesforce.com, inc. (NYSE: CRM) launched its corporate and investment banking cloud. In the first quarter, Salesforce.com (NYSE:CRM)’s non-GAAP EPS came in at $1.21, beating the consensus estimate by $0.33. Revenue in the quarter jumped 22.4% to reach $5.96 billion, beating the consensus estimate by $70 million.
By the end of the first quarter of 2021, 91 of the 866 hedge funds tracked by Insider Monkey held stakes in salesforce.com, inc. (NYSE: CRM). The value of their stakes was roughly $8.84 billion.
ClearBridge Investments, an investment management firm, mentioned salesforce.com, inc. (CRM) in their first quarter investor letter. Here’s what they said:
“We added to our software-as-a-service (SaaS) exposure with the initiation of SaaS leader salesforce.com, which develops software for customer relationship management (we added Workday, which enterprise resource planning applications, last quarter). Saleforce.com is well-positioned in the most attractive end markets in software and will benefit from secular drivers such as remote work and the digital transformation. Salesforce.com is a sustainability leader as well, with a commitment to carbon-neutral cloud, toward which it has set a goal of 100% renewable energy for global operations by fiscal year 2022. The company has a strong focus on equality, in terms of equal rights, pay, education and opportunity. As a data company it has been leading on workforce disclosures and seeks to have 50% of its U.S. workforce made up of underrepresented groups by 2024.”
1. Alphabet, Inc. (NASDAQ: GOOG)
Number of Hedge Fund Holders: 159
Alphabet, Inc. (NASDAQ: GOOG) is a data powerhouse enabling internet and mobile app ads for millions of consumers all over the world, thanks to its dominance in search and apps business.
Alphabet, Inc. (NASDAQ: GOOG) reported $26.29 in EPS for the first quarter of this year, versus estimates of $15.66. The company’s revenue for that quarter was valued at $55.31 billion, representing an 18% growth year over year. Alphabet, Inc. (NASDAQ: GOOG) also has a gross profit margin of 54.32% and a forward PE ratio of 28.96. The stock gained 45.17% in the past 6 months and 45.4% year to date.
By the end of the first quarter of 2021, 159 of the 886 hedge funds tracked by Insider Monkey held stakes in Alphabet, Inc. (NASDAQ: GOOG). The value of their stakes was roughly $2.91 billion. This is compared to 157 hedge fund holders in the previous quarter, with stakes worth $2.05 billion.
Our calculations show that Alphabet, Inc. (NASDAQ: GOOG) ranks 6th in our list of the 30 Most Popular Stocks Among Hedge Funds.
Artisan Partners, a high value-added investment management firm, mentioned Alphabet, Inc. (NASDAQ: GOOG) in their first quarter investor letter. Here’s what they said:
“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”
You can also take a peek at the 15 Most Valuable Cloud Computing Companies and 14 Best Cloud Computing Stocks To Invest In.
