5 Trending Stocks This Week

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1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 259

Microsoft Corporation (NASDAQ:MSFT) has risen 0.88% this week after investment firm Wedbush shortlisted the company as one of the top three tech stocks for 2022.

Dan Ives at Wedbush thinks that the growth outlook of the Microsoft Corporation’s (NASDAQ:MSFT) Azure cloud computing segment is expected to remain stellar during FY23. Microsoft Corporation (NASDAQ:MSFT) is in the middle of shifting workloads to the cloud. The analyst has given an Outperform rating on Microsoft Corporation (NASDAQ:MSFT) stock with a target price of $340.

Baron Funds shared its outlook on Microsoft Corporation (NASDAQ:MSFT) in its Q1 2022 investor letter. Here’s what the firm said:

“Shares of mega-cap software company Microsoft Corporation (NASDAQ:MSFTpulled back with the broader software sector. The company posted another solid quarter, highlighted by total revenues increasing 20% and Microsoft Cloud revenues, now 45% of total revenues, growing 32%. These results were driven, in large part, by strong demand for large Azure contracts. We believe Microsoft can compound revenue in the low double digits for the next three years, underpinned by its expansion in its total addressable market and market share gains.”

Impax Asset Management was the leading hedge fund investor in Microsoft Corporation (NASDAQ:MSFT) during Q2 2022.

You can also take a peek at 10 Social Media Stocks Getting Hammered and 10 Best Stocks For Inflation According to Redditors.

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