5 Best Data Stocks to Buy Now

2. salesforce.com, inc. (NYSE: CRM)

Number of Hedge Fund Holders: 91

Salesforce.com, inc. (NYSE: CRM) is a cloud computing solutions developer. The company focuses on customer relationship management across the globe. It ranks 2nd on our list of the best data stocks to buy now.

On June 9, salesforce.com, inc. (NYSE: CRM) launched its corporate and investment banking cloud. In the first quarter, Salesforce.com (NYSE:CRM)’s non-GAAP EPS came in at $1.21, beating the consensus estimate by $0.33. Revenue in the quarter jumped 22.4% to reach $5.96 billion, beating the consensus estimate by $70 million.

By the end of the first quarter of 2021, 91 of the 866 hedge funds tracked by Insider Monkey held stakes in salesforce.com, inc. (NYSE: CRM). The value of their stakes was roughly $8.84 billion.

ClearBridge Investments, an investment management firm, mentioned salesforce.com, inc. (CRM) in their first quarter investor letter. Here’s what they said:

“We added to our software-as-a-service (SaaS) exposure with the initiation of SaaS leader salesforce.com, which develops software for customer relationship management (we added Workday, which enterprise resource planning applications, last quarter). Saleforce.com is well-positioned in the most attractive end markets in software and will benefit from secular drivers such as remote work and the digital transformation. Salesforce.com is a sustainability leader as well, with a commitment to carbon-neutral cloud, toward which it has set a goal of 100% renewable energy for global operations by fiscal year 2022. The company has a strong focus on equality, in terms of equal rights, pay, education and opportunity. As a data company it has been leading on workforce disclosures and seeks to have 50% of its U.S. workforce made up of underrepresented groups by 2024.”