What's Happening With Cloud Software Company Salesforce's Shares On Thursday?
Portfolio Pulse from Shivani Kumaresan
Salesforce Inc. (NYSE:CRM) shares are rising after announcing London as the location for its first AI center. The company aims to foster AI innovation and skill development. Salesforce is hosting 18,000 attendees at its annual London World Tour event. The company previously announced a $4 billion investment in Britain over five years. Analysts at Goldman Sachs see Salesforce as an 'under-appreciated generative AI winner' with room for margin expansion.
June 06, 2024 | 1:43 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Salesforce shares are up 0.41% in premarket trading after announcing its first AI center in London. The company aims to foster AI innovation and skill development, hosting 18,000 attendees at its London World Tour event. Analysts see Salesforce as an 'under-appreciated generative AI winner' with room for margin expansion.
The announcement of the AI center in London and the positive analyst outlook are likely to boost investor confidence in Salesforce, leading to a short-term increase in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
First Trust Dow Jones Internet Index Fund (FDN) offers another way to gain exposure to Salesforce's positive news, as Salesforce is part of its portfolio.
Given Salesforce's inclusion in FDN, the positive developments around Salesforce are likely to benefit the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Salesforce's positive momentum through the IShares Expanded Tech-Software Sector ETF (IGV), which includes Salesforce in its holdings.
As Salesforce is a significant holding in IGV, the positive news around Salesforce is likely to have a favorable impact on the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50