5 Best Cloud Computing Stocks to Buy According to Hedge Funds

4. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 115

Oracle Corporation (NYSE:ORCL) is one of the Best Cloud Computing Stocks to Buy According to Hedge Funds. On June 23, Jefferies analyst Brent Thill maintained a “Buy” rating on the company’s stock and reiterated the price objective of $320. As per the analyst, the company continues to witness strong demand for cloud systems.

The investors were concerned after the company kept the same full-year sales outlook. Furthermore, it witnessed a small drop in the cloud software sales, which fell short of the Wall Street estimates. The analyst believes that, despite the short-term software drops, the core AI growth story remains strong and is expected to help rebound the shares.

In a different update, the U.S. Office of Personnel Management (OPM) gave Oracle Corporation (NYSE:ORCL) a $395.8 million Federal HRIT Modernization Core Human Capital Management (HCM) contract. This is for delivering the federal government’s first governmentwide HR platform.

Oracle Corporation (NYSE:ORCL) provides products and services, which cater to the enterprise information technology environments.

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