5 High Growth Software Stocks that are Profitable

2. Oracle Corporation (NASDAQ:ORCL)

Number of Hedge Fund Holders: 67

Oracle Corporation (NASDAQ:ORCL) is one of the most notable Cloud and software stocks. In December, Oracle Corporation (NASDAQ:ORCL) posted its fiscal second quarter results. Adjusted EPS in the quarter came in at $1.21, beating estimates by $0.04. Revenue in the quarter jumped about 18.5% on a YoY basis to a total of $12.28 billion, beating estimates by $260 million. Oracle Corporation (NASDAQ:ORCL) said its Cloud revenue in the quarter jumped a whopping 48% (constant currency) on a YoY basis to total $3.8 billion.

In January, Oracle Corporation (NASDAQ:ORCL) jumped after Piper Sandler analyst Brent Bracelin upgraded the stock to Overweight, citing strengths in the Cloud market, which he now believes could reach $646 billion by 2025 and $1.4 trillion by 2030.