5 Best Big Data Stocks To Buy Now

1. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 117

Salesforce, Inc. (NYSE:CRM) is an American cloud-based software company that provides customer relationship management software and applications focused on sales, customer service, marketing automation, data analytics, and application development. It is one of the best big data stocks to invest in. On January 16, Goldman Sachs rebalanced its ROE growth basket, which outperformed S&P 500 ROE by 10 percentage points in 2022. The investment advisory named Salesforce, Inc. (NYSE:CRM) as one of the top 50 picks for 2023. 

On January 9, investment advisory Piper Sandler reiterated an Overweight rating on Salesforce, Inc. (NYSE:CRM) but lowered the firm’s price target on the stock to $171 from $175. Analyst Brent Bracelin issued the ratings update. 

According to Insider Monkey’s data, Salesforce, Inc. (NYSE:CRM) was part of 117 hedge fund portfolios at the end of September 2022, compared to 116 in the prior quarter. Ken Fisher’s Fisher Asset Management held the leading stake in the company, with 12.7 million shares worth $1.8 billion. 

Aristotle Atlantic made the following comment about Salesforce, Inc. (NYSE:CRM) in its Q3 2022 investor letter:

“We sold Salesforce, Inc. (NYSE:CRM) to reduce our weighting in the Information Technology sector. Salesforce held their investor day, and the company reiterated their organic Fiscal Year 2026 revenue target of $50 billion. This target remains more back-end loaded based on current slowing macroeconomic conditions and requires new annual contract growth well ahead of what the company has been averaging for the past few years. We are skeptical that the company will be able to achieve this revenue target organically and see Merger & Acquisitions (M&A) being key to achieving the growth. While we believe Salesforce has shown good success in growing its non-CRM clouds, we do see more competitive pressures emerging for the Marketing and Customer Service Clouds, specifically on the pricing side during a global economic slowdown.”

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