Ken Fisher Bets Big on Salesforce with $1.83 Billion Investment

Published 14 hours agoCRM

Ken Fisher Bets Big on Salesforce with $1.83 Billion Investment

Ken Fisher, the billionaire behind Fisher Investments, has set his sights on Salesforce as a tech stock with substantial growth potential. His firm now holds over 12.72 million shares of Salesforce, valued at around $1.83 billion, a stake that forms 1.37% of the firm's total portfolio.

Salesforce has been at the forefront of integrating artificial intelligence into its services since 2016, notably with the rollout of Salesforce Einstein. More recently, it launched the AI Cloud, which combines AI, data, analytics, and automation. Salesforce's leadership in the CRM sector is underscored by a market capitalization of over $206 billion, and Reuters noted its global dominance in this field.

Fisher's significant investment aligns with a broader analyst confidence in Salesforce's future, particularly in its use of AI. JMP analyst Patrick Walravens has given Salesforce an 'Outperform' rating with a $275 price target, suggesting a potential increase of 30% over the next year. This optimism reflects a strong belief in Salesforce's strategy to leverage AI for continued growth.

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