8 Most Profitable Tech Stocks Right Now

6. Salesforce (NYSE:CRM)  

Number of Hedge Fund Holders: 117  

TTM Net Income: $5.63 Billion  

5-Year Net Income CAGR: 42.75%

Salesforce (NYSE:CRM) is a global leader in cloud-based Customer Relationship Management (CRM) software. The company provides businesses with a platform for marketing, sales, customer service, and commerce across various devices. Salesforce’s (NYSE:CRM) diverse client portfolio includes organizations in the healthcare, retail, and manufacturing sectors. The company supports enterprise digital transformations and has a strong international presence, serving clients in over 150 countries.

In Q2, Salesforce (NYSE:CRM) reported sales of $9.33 billion, up 8.4% year over year, and gross profits of $7.17 billion, up 10% year over year. Operating income reached $1.78 billion, up 21% year over year, with a margin of 19%.

On September 13, Salesforce (NYSE:CRM) announced the acquisition of Tenyx, a developer of AI-powered voice agents, to enhance its customer service capabilities. This strategic move is expected to expand the company’s autonomous agent capabilities for Service Agent by integrating Tenyx’s innovative voice AI solutions, ultimately delivering more intuitive and seamless customer interactions through AI-driven solutions. By combining Tenyx’s deep knowledge of voice AI with Salesforce Service Cloud, the company aims to set new standards in customer experience.

In July, Salesforce (NYSE:CRM) and Workday announced a strategic partnership to create a new AI-powered employee service agent that will automate tasks, provide personalized support, and surface data-driven insights to help employees work smarter and faster. The partnership will bring together the two companies’ platforms, datasets, and AI capabilities to deliver a seamless employee experience powered by generative AI. The partnership will also enable seamless integration between Workday and Slack, allowing employees to access and collaborate around financial and HR records directly in Slack.

Salesforce (NYSE:CRM) is a compelling investment opportunity, with strong growth prospects, and a new AI acquisition to boost future growth. The company’s earnings are projected to increase by 20.52% in the current year. Industry analysts are bullish and have a consensus Buy rating on the stock