5 Best Edge Computing Stocks to Buy

In this article, we will look at the 5 best edge computing stocks to buy. If you want to read our detailed analysis of the edge computing industry and explore similar stocks, you can go directly to Edge Computing Market Leaders and Best Stocks to Buy.

5. Oracle Corporation (NASDAQ:ORCL)

Number of Hedge Fund Holders: 67

Oracle Corporation (NASDAQ:ORCL) is a leading provider of enterprise cloud computing solutions and a major player in the edge computing business. The company’s comprehensive edge computing platform helps organizations to rapidly deploy, manage, and scale their applications and services with low latency and high reliability. Oracle Corporation (NASDAQ:ORCL) is ranked high among the best edge computing stocks to buy now and, as of December 15, the stock has gained 16.34% over the past six months.

Wall Street sees material upside to Oracle Corporation (NASDAQ:ORCL). This December, BMO Capital analyst Keith Bachman raised his price target on Oracle Corporation (NASDAQ:ORCL) to $95 from $90 and maintained a Market Perform rating on the shares.

On December 12, Oracle Corporation (NASDAQ:ORCL) posted strong earnings for the second quarter of fiscal 2023. The company reported an EPS of $1.21 and outperformed consensus by $0.04. Oracle Corporation (NASDAQ:ORCL) generated a revenue of $12.28 billion, up 18.48% year over year, and beat revenue estimates by $257.73 million.

At the end of Q3 2022, 67 hedge funds were bullish on Oracle Corporation (NASDAQ:ORCL) and disclosed positions worth $3.27 billion in the company. Of those, First Eagle Investment Management is the largest investor in the company and has a position worth $1.58 billion.

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.”