In this article, we discuss the 5 stocks to buy today according to Jim Cramer. If you want to read our detailed analysis of these stocks, go directly to 15 Stocks to Buy Today According to Jim Cramer.
5. Snowflake Inc. (NYSE: SNOW)
Number of Hedge Fund Holders: 70
Snowflake Inc. (NYSE: SNOW) is placed fifth on our list of 15 stocks to buy today according to Jim Cramer. The firm provides cloud services and is headquartered in California. Cramer gave the stock a Buy recommendation during the Guest Interview segment of his show recently.
On August 26, investment advisory Cowen reiterated an Outperform rating on Snowflake Inc. (NYSE: SNOW) stock and raised the price target to $335 from $310, underlining that the shares looked attractively priced at current levels.
At the end of the second quarter of 2021, 70 hedge funds in the database of Insider Monkey held stakes worth $12.5 billion in Snowflake Inc. (NYSE: SNOW), down from 71 in the preceding quarter worth $12.9 billion.
4. Applied Materials, Inc. (NASDAQ: AMAT)
Number of Hedge Fund Holders: 73
Applied Materials, Inc. (NASDAQ: AMAT) is a California-based firm that provides manufacturing equipment, services, and software to the semiconductor and display industries. It is ranked fourth on our list of 15 stocks to buy today according to Jim Cramer. Cramer gave the stock a Buy rating during the Lightning Round segment of his show recently.
On August 20, investment advisory Mizuho maintained a Buy rating on Applied Materials, Inc. (NASDAQ: AMAT) stock and raised the price target to $161 from $158, appreciating the “solid” quarterly results posted by the firm.
Out of the hedge funds being tracked by Insider Monkey, London-based investment firm Generation Investment Management is a leading shareholder in the firm with 4.4 million shares worth more than $630 million.
3. NVIDIA Corporation (NASDAQ: NVDA)
Number of Hedge Fund Holders: 86
NVIDIA Corporation (NASDAQ: NVDA) is a California-based visual computing firm. It is placed third on our list of 15 stocks to buy today according to Jim Cramer. Cramer gave the stock a Buy recommendation during the Discussed Stock segment of his show recently.
On August 19, investment advisory Jefferies maintained a Buy rating on NVIDIA Corporation (NASDAQ: NVDA) stock and raised the price target to $223 from $214, noting the ecosystem and increasing software revenue of the firm would yield additional upside surprises.
At the end of the second quarter of 2021, 86 hedge funds in the database of Insider Monkey held stakes worth $9 billion in NVIDIA Corporation (NASDAQ: NVDA), up from 80 the preceding quarter worth $6 billion.
In its Q1 2021 investor letter, Vulcan Value Partners, an asset management firm, highlighted a few stocks and NVIDIA Corporation (NASDAQ: NVDA) was one of them. Here is what the fund said:
“NVIDIA Corp. is the dominant supplier of Graphics Processing Units (GPUs) worldwide. NVIDIA’s GPUs are at the intersection of a number of important computing trends including the movement to the Cloud, artificial intelligence, autonomous vehicles, edge computing, gaming, and more. We previously owned NVIDIA and sold it in the third quarter of 2020 as the price to value gap closed and our margin of safety was reduced. As with all our MVP companies, we continued to follow NVIDIA closely. Since that time, NVIDIA reported excellent results and its value has compounded rapidly. The technology selloff at the beginning of the year negatively affected the stock price while our estimate of NVIDIA’s value per share increased. This happy combination of events created a margin of safety and an opportunity to once again add NVIDIA to the portfolio.”
2. Salesforce.com, Inc. (NYSE: CRM)
Number of Hedge Fund Holders: 108
Salesforce.com, Inc. (NYSE: CRM) is ranked second on our list of 15 stocks to buy today according to Jim Cramer. The company provides cloud computing solutions and other software-related services. It is headquartered in California. Cramer gave the stock a Buy rating during the Guest Interview segment of his show recently.
On August 26, investment advisory RBC Capital assumed coverage of Salesforce.com, Inc. (NYSE: CRM) stock with an Outperform rating and a price target of $310, noting the firm was leading the software market in multiple areas.
Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Salesforce.com, Inc. (NYSE: CRM) with 13.4 million shares worth more than $3.2 billion.
In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Salesforce.com, Inc. (NYSE: CRM) was one of them. Here is what the fund said:
“We added to our software-as-a-service (SaaS) exposure with the initiation of SaaS leader salesforce.com, which develops software for customer relationship management (we added Workday, which enterprise resource planning applications, last quarter). Saleforce.com is well-positioned in the most attractive end markets in software and will benefit from secular drivers such as remote work and the digital transformation. Salesforce.com is a sustainability leader as well, with a commitment to carbon-neutral cloud, toward which it has set a goal of 100% renewable energy for global operations by fiscal year 2022. The company has a strong focus on equality, in terms of equal rights, pay, education and opportunity. As a data company it has been leading on workforce disclosures and seeks to have 50% of its U.S. workforce made up of underrepresented groups by 2024.”
1. JPMorgan Chase & Co. (NYSE: JPM)
Number of Hedge Fund Holders: 108
JPMorgan Chase & Co. (NYSE: JPM) is placed first on our list of 15 stocks to buy today according to Jim Cramer. The firm is based in New York and provides financial services. Cramer gave the stock a Buy recommendation during the Discussed Stock segment of his show recently.
On July 14, investment advisory Credit Suisse kept an Outperform rating on JPMorgan Chase & Co. (NYSE: JPM) stock and raised the price target to $177 from $170. Susan Roth Katzke, an analyst at the advisory, issued the ratings update.
Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in the firm with 6.9 million shares worth more than $1 billion.
In its Q4 2020 investor letter, Bretton Fund, an asset management firm, highlighted a few stocks and JPMorgan Chase & Co. (NYSE: JPM) was one of them. Here is what the fund said:
“After a strong performance in 2019, we wrote this about our bank stocks in last year’s report: “There will be another recession sooner than later, and our banks will see larger loans losses, but we think this is more than priced into the stock, and our banks are well reserved for that eventuality.” Little did we know “sooner” really meant “a few weeks from now.” Despite the economic shock, the banks still have huge capital cushions that can absorb large loan losses. Our remaining bank investments, JPMorgan and Bank of America, increased their reserves significantly at the beginning of the Covid-19 crisis in anticipation of imminent loan defaults, but with the government stimulus and perhaps a more resilient economy than many would have guessed, actual loan losses are up only slightly. They might happen later in 2021, but with an additional stimulus package and the vaccine rolling out, the large-scale losses may not be as bad as most people predicted. The bigger drag on the banks’ earnings power is lower rates, which in our opinion will persist for a long time. Despite this drag, we estimate both JPMorgan and Bank of America will continue to grow revenue and earnings over the next few years, while we believe their stocks remain bargains in a somewhat expensive market. JPMorgan’s earnings per share declined 17% last year, and its stock returned -5.5%. Bank of America’s earnings, which are more sensitive to interest rates, were down 32%, and its stock returned -11.6%.”
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