5 Best Big Data Stocks to Buy Now

In this article, we will look at the 5 best big data stocks to buy now. If you want to explore similar stocks, you can go to 11 Best Big Data Stocks to Buy Now.

5. Oracle Corporation (NASDAQ:ORCL)

Number of Hedge Fund Holders: 69

Oracle Corporation (NASDAQ:ORCL) is an enterprise software solutions giant. On September 20, Oracle Corporation (NASDAQ:ORCL) released Java 19, the latest version of the Java programming language.

On September 12, the company released earnings for the fiscal first quarter of 2023. The company reported earnings per share of $1.03 and generated a revenue of $11.45 billion, up 17.65% year over year. Oracle Corporation (NASDAQ:ORCL) is among the few dividend-paying big data companies. As of September 28, the stock is offering a forward dividend yield of 1.98% and the company has free cash flows of $5.37 billion.

Wall Street sees material upside to Oracle Corporation (NASDAQ:ORCL). On September 13, Deutsche Bank analyst Brad Zelnick reiterated his $110 price target and Buy rating on Oracle Corporation (NASDAQ:ORCL) after the company reported “very solid” first-quarter results. This September, JPMorgan analyst Mark Murphy raised his price target on Oracle Corporation (NASDAQ:ORCL) to $84 from $82 and reiterated a buy-side Overweight rating on the shares.

At the close of the second quarter of 2022, 69 hedge funds held stakes in Oracle Corporation (NASDAQ:ORCL) worth $4.18 billion. This is compared to 61 positions in the previous quarter with stakes worth $4.33 billion. As of June 30, First Eagle Investment Management is the top shareholder in Oracle Corporation (NASDAQ:ORCL) and has stakes worth $1.8 billion in the company.

Here is what First Eagle Investments had to say about Oracle Corporation (NASDAQ:ORCL) in its second-quarter 2022 investor letter:

“Oracle is one of the world’s largest independent enterprise software companies and has been reinventing itself for the cloud-computing environment, a transition pursued primarily through investments in organic research and design and smallish, well-priced acquisitions. That said, Oracle in June closed its largest-ever deal with the acquisition of Cerner, a designer of software to store and analyze medical records and other healthcare data.

Oracle took on additional debt to finance this all-cash acquisition and as a result plans to moderate its stock-buyback program to focus on debt reduction. Despite the weak quarter for the stock, Oracle’s operations remain strong; it reported better- than-expected results for its most recent quarter and issued upbeat guidance for the coming fiscal year.”