5 Best New Stocks To Buy According to Hedge Funds

Page 5 of 5

1. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Holders: 70

Price as of October 20, 2021: $334.13

Snowflake Inc. (NYSE:SNOW) is a provider of cloud-based data storage and analytics service headquartered in Bozeman, Montana. The company has more than 1,300 partners and has 250 petabytes (PB) of data under its management. The organization employs over 3,000 people across 20 countries.

Patrick Walravens at JMP Securities raised the price target for Snowflake Inc. (NYSE:SNOW) from $320 to $350 and maintained an Outperform rating.

Investment management firm, RiverPark Funds mentioned Snowflake Inc. (NYSE:SNOW) in its Q1 2021 investor letter. Here’s what the firm said:

“We also established a position in Snowflake during the quarter. Snowflake offers cloud-based data storage and analytics, generally termed “data warehouse-as-a-service.” The data warehousing market—created by the massive, growing amount of user, customer, and account data and the need to search and analyze it—has historically stored its data on physical servers located on-premises. The cloud data platform market—storing data off-premises on cloud servers—is a relatively new $70 billion+ market. Significantly, incremental warehouse data capacity and renewals are expected to be driven by and to the cloud, with more than 75% of databases in the cloud by 2022 … Click here to continue reading.”

You can also take a peek at the 20 Safe Dividend Stocks to Quit Your 9 to 5 Job and George Soros Stock Portfolio: Top 10 Stock Picks.

Page 5 of 5