Analyzing Snowflake Inc. (NYSE:SNOW) Against Other Cloud Computing Stocks

Are you looking to invest in the booming cloud computing industry? Look no further! We have compiled a list of the 10 Best Cloud Computing Stocks to Buy Now, and in this article, we are going to take a closer look at where Snowflake Inc. (NYSE:SNOW) stands among the top cloud computing stocks.

Cloud computing has revolutionized the way we access and manage computing resources, and the industry is set for significant growth in the coming years. Market estimates project a jump from $0.68 trillion in 2024 to $1.44 trillion by 2029, with a compound annual growth rate (CAGR) of 16.4%. This growth trend is expected to continue, reaching almost $2.5 trillion by 2032, indicating a rising adoption of cloud solutions across various industries.

One of the key drivers of this growth is the increasing recognition among large enterprises of the impact cloud computing can have on their operations. In fact, a remarkable 94% of companies worldwide have already adopted cloud computing solutions, with forecasts suggesting it could generate around $3 trillion in revenue by 2030.

Currently, North America and Europe lead in cloud computing adoption, with Asia Pacific catching up fast. North America holds the largest share of the global market at 41%, driven by early adoption of technologies like artificial intelligence (AI) and machine learning (ML). Europe, despite stricter data privacy regulations, is also experiencing consistent growth in cloud adoption, with countries like Sweden, Finland, the Netherlands, and Denmark leading the way.

In the Asia Pacific region, cloud computing adoption is on the rise, with the market size reaching $32.5 billion in 2022. This growth is fueled by a shift towards digital business models and cost-effective solutions, driving cloud adoption among small and medium businesses (SMBs).

To identify the best cloud computing stocks to buy now, we analyzed data from 920 hedge funds and selected stocks with the highest number of hedge fund investors. Snowflake Inc. (NYSE:SNOW) stood out with 73 hedge fund holders, making it a top contender in the cloud computing space.

Snowflake Inc. (NYSE:SNOW) was founded in 2012 and has established itself as a leading player in the cloud computing industry, offering a data platform that caters to a global audience. The company reported strong first-quarter results for fiscal year 2025, with total revenue reaching $828.7 million, reflecting a 33% year-over-year growth.

Analysts are bullish on Snowflake’s future, with a consensus rating of “Strong Buy” and an average 12-month price target of $203.59, indicating a potential upside of 51.59% from the current price.

While Snowflake ranks 10th on our list of the best cloud computing stocks to buy, we believe that AI stocks hold greater promise for delivering higher returns in a shorter timeframe. If you’re interested in exploring more investment opportunities in the cloud computing and AI space, be sure to check out our list of the 10 Best Artificial Intelligence Stocks to Buy Under $10.

In conclusion, the cloud computing industry is poised for significant growth, driven by factors like increasing enterprise adoption, technological advancements, and regulatory landscapes. Snowflake Inc. (NYSE:SNOW) is a strong contender in the cloud computing space, offering a data platform that caters to a global audience. With a bullish outlook from analysts and strong financial performance, Snowflake presents an attractive investment opportunity in the cloud computing sector.