5 Best Big Data Stocks to Buy Now

3. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 116

On August 24, Salesforce, Inc. (NYSE:CRM) announced market-beating earnings for the fiscal second quarter of 2022. The company reported earnings per share of $1.19 and beat EPS estimates by $0.16. The company generated a revenue of $7.72 billion, up 21.7% year over year, and beat Wall Street consensus by $23.14 million.

Wall Street analysts see material upside to the leading big data company. On September 19, Raymond James analyst Brian Peterson reiterated his $225 price target and Strong Buy rating on Saleforce, Inc. (NYSE:CRM) and also added the stock to the bank’s “Analyst Current Favorite” list. This September, Mizuho analyst Gregg Moskowitz reiterated his $235 price target and Buy rating on Salesforce, Inc. (NYSE:CRM).

At the end of Q2 2022, 116 hedge funds held stakes in Salesforce, Inc. (NYSE:CRM). The total value of these stakes amounted to $7.9 billion. As of June 30, Fisher Asset Management owns more than 15 million shares of Salesforce, Inc. (NYSE:CRM) and is the top investor in the company. The investment covers 1.83% of Ken Fisher’s 13F portfolio.

Here is what Vulcan Value Partners had to say about Salesforce, Inc. (NYSE:CRM) in its first-quarter 2022 investor letter:

“Salesforce.com Inc. is the dominant provider of customer relationship management software and technology. Salesforce has high retention rates, pricing power, high free cash flow, and a competitive moat. The company continues to execute well. Margins decreased slightly during the fourth quarter but continue to be on path for material expansion over the long term. Salesforce is seeing increased spending as employees are returning to the office, and we believe the global pandemic has only improved its prospects.”