15 Stocks on Jim Cramer’s Radar

3. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holdings: 119

Salesforce, Inc. (NYSE:CRM) is a customer relationship management software provider. Like other software stocks, the firm has also struggled. The shares are down by 30% over the past year and by 11% year-to-date. Wolfe Research discussed Salesforce, Inc. (NYSE:CRM)’s shares in mid-January. The research firm pointed out that the software company was experiencing tailwinds in its AI portfolio, particularly through the integration of its Agentforce product in it platform. Cramer has been split about Salesforce, Inc. (NYSE:CRM). While he has also acknowledged Agentforce’s performance, the CNBC TV host has also wondered whether the broader software product lineup is performing as well. In this appearance, he discussed the seat model for software companies and coverage by Ben Reitzes of Melius Research:

“Well, look a lot of people just feel that the seat method, charging by the seat, that’s not the way. . .is being compressed. That a lot of the people who would use Salesforce product are not needed because you can now recreate. This is the Adobe problem. This is the, you know some people say, the ServiceNow problem. And it [inaudible] free fall. Now here’s what I would say, do you have Ben Reitzes from Mellius on? Cause he’ll talk about the compression of the multiple because of the possible shrinking of the business. Now of course, Marc Benioff is not saying that. . .you know Marc is saying, listen, the agentics business is so strong, Slack is very strong. And there’s no degradation.”

L1 Capital International Fund also discussed Salesforce, Inc. (NYSE:CRM) in its fourth quarter 2025 investor letter:

“During the December 2025 quarter, we initiated a position in Salesforce, Inc. (NYSE:CRM). Salesforce is the global leader in customer relationship management software and over the past 25 years has built a highly profitable, high-quality business exemplifying the barriers to competition just outlined. However, a combination of AI-related concerns and natural growth moderation as the business has scaled saw Salesforce’s share price fall more than 35% from its late-2024 peak, leaving it trading at levels last seen five years ago. We expect Salesforce to deliver high single digit revenue growth over the medium term, and earnings per share growth in the teens. We invested at the lower end of our assessed fair value range and view Salesforce as offering an attractive risk-adjusted return opportunity and would look to further increase the position on additional share price weakness.”