- Money Masters
- Posts
- 5 Big Data Stocks to Watch
5 Big Data Stocks to Watch
In today's data-driven world, investing in big data companies offers...
Kenny
August 23, 2024
Take a demo, get a Blackstone Griddle
Automate expense reports so you can focus on strategy
Uncapped virtual corporate cards
Access scalable credit lines from $500 to $15M
THE MONEY IDEAđź’ˇ
5 Big Data Stocks to Watch
Welcome to Money Masters!
In today's data-driven world, investing in big data companies offers significant growth potential as they are leaders in innovation and technological advancement. This article highlights five leading big data stocks highlighted by Insider Monkey analysts—Alphabet, Amazon, Workiva, MongoDB, and Snowflake—that are at the forefront of expanding industries with their cutting-edge solutions.
Let’s dive in.
THE MONEY IDEAđź’ˇ
5 Big Data Stocks to Watch
Strong Revenue Growth: Alphabet saw a 15% year-over-year revenue increase in Q2 2024, driven by robust performance across its core businesses.
Google Cloud Platform Expansion: Google Cloud Platform (GCP) grew nearly 29% YoY, solidifying Alphabet’s competitive edge in the cloud market.
Shareholder Returns: The initiation of Alphabet’s dividend and a $70 billion share buyback program enhance its appeal to investors looking for income and capital appreciation.
AI Leadership: Alphabet’s integration of its Gemini AI model into search, YouTube advertising, and cloud services positions the company as a long-term AI winner.
Valuation Opportunity: Despite a recent 14% stock drop, Alphabet is valued attractively with analysts forecasting a 25.03% upside.
AWS Dominance: Amazon continues to lead in cloud computing, with Amazon Web Services (AWS) growing 19% recently, reinforcing its market leadership.
E-commerce Powerhouse: Amazon’s Prime service drives increased sales and faster shipping, maintaining its dominance in the global e-commerce market.
Digital Advertising Growth: Amazon’s digital advertising segment has exceeded a $50 billion annual run rate, growing at 20%, making it a significant player in the advertising space.
Strong Cash Flow: The company generated $53 billion in free cash flow over the past year, highlighting its financial strength and ability to invest in future growth.
Analyst Optimism: With a 25.21% potential upside and a robust business model, Amazon remains an attractive investment at its current share price.
Robust Subscription Growth: Workiva reported an 18% increase in subscription revenue in Q2, driven by strong demand for its ESG reporting solutions.
Strategic Acquisitions: The company’s acquisition of Sustain.Life and the introduction of Workiva Carbon for carbon accounting position it well in the growing ESG market.
Share Repurchase Program: Workiva authorized a $100 million share repurchase program, signaling confidence in its long-term growth prospects.
Revenue Forecast: The company has raised its revenue forecast, aiming for over $1 billion by 2027, reflecting its optimistic growth outlook.
Undervalued Stock: Trading 54% below its 2021 peak, Workiva offers significant upside potential, with a focus on improving profitability and expanding its customer base.
Innovative Database Solutions: MongoDB’s flexible NoSQL database management system allows developers to efficiently store and manage data, making it a leader in the database space.
Strong Financial Performance: MongoDB beat earnings estimates in the latest quarter, with revenue surpassing forecasts by $10.65 million, highlighting its growth momentum.
AI Integration: The company is actively enhancing its platform to support AI applications, which could drive greater adoption and future growth.
Market Potential: As a key player in the growing software segment, MongoDB has significant room for market penetration, particularly with its AI-related offerings.
Turnaround Potential: Despite challenges, MongoDB’s ongoing innovation and potential re-acceleration of growth make it an attractive investment, with a 41.70% upside.
Strong Growth Prospects: Analysts predict a potential upside of 53.70% for Snowflake, driven by its innovative data management solutions and strong demand in the market.
Cloud-Based Advantages: Snowflake’s cloud-based data warehousing solutions offer compatibility across multiple cloud platforms, making it a preferred choice for complex data needs.
New Product Innovations: The introduction of products like Cortex, Dynamic Tables, and Container Services is expected to drive further growth for the company.
AI Market Positioning: With a focus on AI and data management, Snowflake is well-positioned to capitalize on the growing demand for AI-enhanced services.
Attractive Valuation: Snowflake’s current valuation presents a compelling opportunity, especially as interest rates decline and investors seek high-growth tech stocks.
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
NEWSLETTER CORNER🗞️
Subscribe To Our Friends!
QUOTE CORNERđź“„
Quote of The Week
You are now closer to money mastery!🎉
What did you think of this week’s newsletter?
Did you like it? How can we improve?
Hit reply and share some feedback!
Reply