10 Best Cloud Stocks To Buy According to Hedge Funds

4. Salesforce Inc (NYSE:CRM)

Number of Hedge Fund Investors: 116

Salesforce Inc (NYSE:CRM) is a company that has leveraged cloud technology to improve customer relationship management. Sales Cloud by CRM is a cloud-based solution that can be used by large enterprises and smaller businesses.

CRM expects total sales of $10 billion, implying a 7-9% y-o-y growth, driven by strong demand for its cloud services like Sales Cloud. The launch of Agent Force, an autonomous AI agent has been instrumental in CRM closing more details. There have been more than 200 Agent Force deals in Q3 and major players like FedEx, Accenture and IBM already use the digital labor system. A raised full-year revenue guidance bodes well as the company gears up for a global expansion. It has pledged to upskill 30,000 individuals in Saudi Arabia and plans to invest $500 million in Argentina. By partnering with HCL, CRM is also looking to modernize its cloud infrastructure, particularly in the finance industry.