In this piece we will look at the 5 Best Performing Stocks in May. Please visit 10 Best Performing Stocks in May if you’d like to see an extended list and how we came up with the list of Best Performing Stocks in May.
5. CrowdStrike Holdings, Inc. (NASDAQ:CRWD)
Performance in May 2026: 71.66%
Number of Hedge Fund Holders: 79
CrowdStrike Holdings, Inc. (NASDAQ:CRWD) has gained more than 70% in May, and the company recently released strong results for fiscal Q1 2027 on June 3. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is also one of the Best Performing Stocks in May.
Stocks
During the quarter, the company posted $1.39 billion in revenue, up 26% year-over-year and ahead of the consensus of $1.36 billion. The EPS of $1.10 also topped the Street’s expectations of $1.07. CEO George Kurtz framed the quarter as an AI inflection point as net new ARR hit a record $256 million, up 32% year over year. The ARR was also up 24% during the same time and reached $5.51 billion. Profitability showed meaningful improvement as GAAP net income came in at $27.8 million, a sharp turnaround from a $104 million loss a year ago.
Notably, management announced a four-for-one stock split, with trading expected to begin on a split-adjusted basis on July 2, 2026.
Just before the earnings, on June 3, J.P. Morgan had raised the price target on CrowdStrike Holdings, Inc. (NASDAQ:CRWD) from $475 to $800 and reiterated a Buy rating on the shares.
CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a leading cloud-native cybersecurity and threat intelligence company specializing in endpoint protection, cloud security, identity security, and next-generation SIEM solutions through its Falcon platform.
4. Micron Technology, Inc. (NASDAQ:MU)
Performance in May 2026: 90.98%
Number of Hedge Fund Holders: 154
Despite Micron Technology, Inc. (NASDAQ:MU)’s impressive 90% gains in May 2026, the Street continues to increase price targets, reflecting continued bullish sentiment on the stock. Micron Technology is also among our Best Performing Stocks in May.
Recently, on June 3, Morgan Stanley raised the firm’s price target on Micron Technology, Inc. (NASDAQ:MU) from $520 to $1,050, while maintaining a Buy rating on the shares. Earlier, on May 29, Susquehanna also raised its price target on the stock from $600 to $1,750 and maintained a Buy rating.
Morgan Stanley noted that their thesis around memory stocks is simple: that there is no quick fix to the ongoing memory shortage. The firm expects the supply tightness to persist for two to three years or more, creating a sustained favorable environment for memory producers like Micron. Despite memory stocks already performing strongly in both 2025 and 2026, Morgan Stanley believes the rally has further room to run.
Similarly, Susquehanna’s thesis is based on the strengthening average selling prices and growing confidence that elevated margins are sustainable, not temporary. The firm noted that a key driver for the company is the evolving memory and storage landscape, where changes to KV Cache offloading are discouraging manufacturers from aggressively adding wafer capacity. Susquehanna believes that this keeps the supply tight and expects this tightness throughout 2027.
Micron Technology, Inc. (NASDAQ:MU) provides memory and storage solutions sold into client, cloud server, enterprise, graphics, networking, smartphone, mobile-device, automotive, industrial, and consumer markets, among others.
3. Datadog, Inc. (NASDAQ:DDOG)
Performance in May 2026: 97.46%
Number of Hedge Fund Holders: 80
Datadog, Inc. (NASDAQ:DDOG) has been among the top performers in May 2026 with impressive gains of more than 97%. Most of these gains came in after the company posted strong results for fiscal Q1 2026, on May 7. Datadog, Inc. (NASDAQ:DDOG) is also among our Best Performing Stocks in May.
During the quarter, the company posted $1.01 billion in revenue, ahead of the consensus of $959.95 million. The EPS of $0.6 also came in ahead of the expectations of $0.51. CEO Olivier Pomel noted the 32% year-over-year revenue growth and more than $1 billion in revenue to be a significant milestone, driven by strong execution across customers of all sizes and industries adopting cloud-based, AI-enabled solutions. Management noted that customer growth remained healthy as the company had around 4,500 customers spending $100,000 or more annually, reflecting a 21% growth from a year ago.
Recently, on May 29, RBC Capital raised the price target on the stock from $219 to $250 and maintained a Buy rating on the shares. The firm met with Datadog’s management and came back reassured about the firm’s bullish thesis. The firm sees the company benefiting from three key tailwinds, including ongoing cloud migration, rising AI adoption, and new product innovation.
Datadog, Inc. (NASDAQ:DDOG) is a SaaS-based observability and security platform that provides cloud monitoring, analytics, and cybersecurity solutions for applications and infrastructure.
2. Snowflake Inc. (NYSE:SNOW)
Performance in May 2026: 98.70%
Number of Hedge Fund Holders: 80
Snowflake Inc. (NYSE:SNOW) has gained more than 98% in May. A large proportion of these gains came during the last three days of the month after the company reported fiscal Q1 2027 earnings on May 28. Snowflake Inc. (NYSE:SNOW) ranks among our Best Performing Stocks in May.
Recently, on June 3, Needham raised the firm’s price target from $300 to $330, while maintaining a Buy rating on the stock. The positive rating came after the company’s annual user conference. Following the conference, Needham’s confidence in the overall strategic direction of CEO Sridhar Ramaswamy remains high. The firm noted that the CEO’s strategy has started to translate into financial numbers.
The firm finds the company’s core business to be growing strongly. Needham specifically highlighted CoWork and CoCo as driving tremendous adoption and growth, suggesting Snowflake’s AI-native product expansion is resonating with customers and becoming a meaningful contributor to the company’s momentum.
Snowflake Inc. (NYSE:SNOW) during its fiscal Q1 2027 results posted $1.39 billion in revenue, which came in ahead of the expectations of $1.32 billion. The EPS of $0.39 also topped the consensus of $0.32. CEO Sridhar Ramaswamy highlighted the 33% year-over-year revenue growth and 34% product revenue growth as a clear AI inflection point. Management noted that customer momentum was strong as the company added 616 net new customers, up 38% year over year, and now counts 779 customers spending over $1 million annually.
Snowflake Inc. (NYSE:SNOW) provides a cloud-based data platform for organizations in the United States and internationally.
1. Dell Technologies Inc. (NYSE:DELL)
Performance in May 2026: 121.71%
Number of Hedge Fund Holders: 72
Dell Technologies Inc. (NYSE:DELL) is one of the Best Performing Stocks in May. Recently, on June 1, Mizuho raised the price target on Dell Technologies Inc. (NYSE:DELL) from $435 to $500 and maintained an Outperform rating. The rating comes after the stock has already posted strong gains of more than 121% in May 2026.
Mizuho noted the increase in price target to be part of a broader upgrade across the semiconductor and server ecosystem. The firm’s core thesis is that agentic AI is driving strong and accelerating demand for CPUs and servers. The firm noted that suppliers remain supply-constrained into 2027, which is a meaningful upside for Dell’s server business as customers struggle to source enough hardware.
Mizuho has also flagged some potential risks for the second half of 2026, noting that tight memory and CPU supply could act as a ceiling on how much upside Dell can capture, even as underlying demand remains robust.
Overall, the Street remains bullish on the stock as analysts’ average 12-month price target suggests more than 18% upside from the current level.
Dell Technologies Inc. (NYSE:DELL) designs, develops, manufactures, markets, sells, and supports integrated technology solutions, products, and services internationally.
While we acknowledge the potential of DELL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than DELL and that has 100x upside potential, check out our report about the cheapest AI stock.
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