Salesforce Is Hiking Prices -- Why It's a Top AI Stock to Buy Now
Shares of Salesforce (NYSE: CRM) have notched an incredible rally in 2023, up over 70% year to date as of this writing. Despite the company's slowing growth due to worries about the direction of the global economy, the leading provider of customer relationship management (CRM) software has sharpened its focus on increasing profit margins -- bringing renewed investor optimism. Let's see if that enthusiasm is justified.
Following the introduction of a slew of new AI features across its product portfolio, management's drive for profit has led it to decide it's time to increase prices. The stock market was apparently happy with that choice, but I think it will result in more than a one-time bump for this top AI software stock.
According to Salesforce management, starting in August, the list prices for many products across its Sales, Service, and Marketing Clouds, as well as Industries and Tableau (the data visualization and analytics platform it acquired in 2019), will increase by an average of 9%.
Source Fool.com
