8. Snowflake Inc. (NYSE:SNOW)
Number of Hedge Fund Holders In Q4 2024: 85
Snowflake Inc. (NYSE:SNOW) is one of the largest data analytics companies in the world. Its shares are flat over the past year and would have been substantially down had it not been for a massive 33% jump in November. Snowflake Inc. (NYSE:SNOW)’s stock soared as the firm’s third-quarter revenue of $942 million beat analyst estimates of $900 million, and its fiscal 2025 product revenue guidance of $3.43 billion was higher than the previous figure of $3.36 billion. Here’s what Cramer said about Snowflake Inc. (NYSE:SNOW):
“Well, you can rent, basically rent the cloud, learn how to use it, learn how to use AI. But David, I picked this [SNOW] because it’s simple. They have what we really want out of company, 24% revenue growth and a good forecast. And it’s a reminder, that there are ways, why is NVIDIA not up 25%? Why is Marc Benioff, Salesforce, not up? Well that’s growing at 9%. This is growing at the level people want. And I’ve got to hand it to Sridhar Ramaswamy, because he took this company over not that long ago. And, it, from Frank Slootman, it had a little bit of a dip but now it’s back. And Frank always said it would be back, the business could be rocky. That’s how got the ‘forecast is the forecast,’ when I said, ‘I’m worried about the forecast’ and he said ‘the forecast is a forecast.'”
“And the list of customers is so long. It’s really great. So you’ll see at Salesforce down a lot, because it doesn’t have the kind of growth. And that’s all people care about. In the end, they care about big-time growth.”
“And Salesforce, maybe you feel that Agentforce is not doing well, I think that’s totally wrong. But I’m not going to get in the way of anyone who wants to sell something which is really going at nine when you’ve something that is growing at the mid-20s like this SNOW, 24% revenue growth hard to come by. So anyway, simple versus difficult is where I’m presenting. And we want simple, we don’t want difficult.”
