14 Stocks on Jim Cramer’s Radar

6. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holdings: 119

Salesforce, Inc. (NYSE:CRM) is an enterprise software company that provides customer relationship management software products and services. The shares are down by 33% over the past year and by 9.6% year-to-date. Barclays discussed Salesforce, Inc. (NYSE:CRM)’s share in January as it raised the share price target to $338 from $330 and kept an Overweight rating, according to The Fly. Among the reasons that the financial firm shared for its confidence was spending confidence in the software industry. Goldman Sachs commenced coverage in January. It set a $330 share price target and a Buy rating on Salesforce, Inc. (NYSE:CRM)’s shares. The investment bank remarked that the software company could benefit from the tailwinds generated by AI adoption. However, Cramer discussed Salesforce, Inc. (NYSE:CRM) in the context of a sector that is hampered by weak performance. The CNBC TV host also pointed to the split in the firm’s AI and non-AI business:

“Now get the opp verse, okay, this is the losers, this is the software, enterprise software, Salesforce down 16. . .

“Now, by the way, Marc Benioff, would tell you, Jim, I don’t even, how could you say that, life support, have you seen our Agentforce? And Agentforce is doing well and Slack is doing well. But it’s the other parts that maybe [inaudible]. I’ve used Salesforce twice, I had 30% lift and now people tell me it costs so much money you would never do it.”