Institutional Investors Flock to Salesforce as Earnings Soar
Bank OZK has invested in Salesforce Inc., purchasing 3,754 shares of CRM stock worth approximately $588,000, according to a recent Form 13F filing with the Securities & Exchange Commission.
This is just one example of institutional investors showing confidence in the company's performance. Other large investors have also been buying into Salesforce, including BlackRock Inc., which acquired a new stake valued at about $11,396,844,000 during the second quarter.
Salesforce reported strong quarterly earnings results on August 26th, with adjusted EPS of $5.90 and revenue rising 10.8% year over year to $11.35 billion. This beat analyst estimates and helped boost investor sentiment.
Analysts have also raised their price targets for Salesforce, with some predicting a strong future for the company's AI offerings. For example, JPMorgan and Mizuho both increased their targets in recent weeks.