13 Stocks Jim Cramer Talked About

9. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holdings: 119

Customer relationship software products provider Salesforce, Inc. (NYSE:CRM)’s shares are down by 41% over the past year and by 25% year-to-date. Early in February, Oppenheimer reiterated a Buy rating and a $300 share price target on the shares. Similarly, Stifel also kept a similar price target and rating. The latter explained that Salesforce, Inc. (NYSE:CRM)’s Agentforce platform was enabling the firm to compete in today’s aggressive AI era. Enterprise software firms like Salesforce have struggled in today’s AI age since their ability to retain a competitive advantage when it comes to providing software has become doubtful. According to The Fly, Piper Sandler cut Salesforce, Inc. (NYSE:CRM)’s share price target to $315 from $280 and kept an Outperform rating on the shares. Among the reasons that the financial firm shared for the shift were concerns about self-coding using AI and seat-compression. Salesforce, Inc. (NYSE:CRM)’s AI business has also been on Cramer’s mind as he has recently discussed the stock. In this appearance, he commented on the firm in the context of Anthropic’s impact on the industry:

“Now I think that ServiceNow, and I think that Salesforce are great companies. And I think that people just say, you know what, Anthropic is going to figure out what they do. But Anthropic doesn’t even. . .”