5 Best Beaten-Down Technology Stocks to Buy Now

3. Salesforce Inc. (NYSE:CRM)

Year-to-Date Performance: -38.23%

Number of Hedge Fund Holders: 101

Salesforce Inc. (NYSE:CRM) is one of the best beaten-down technology stocks to buy now. On July 1, Guggenheim upgraded Salesforce Inc. (NYSE:CRM) to a Buy from Neutral and set a $228 price target. The new price target implies significant upside potential, as the stock has pulled back about 38% year to date to $163.23 a share.

The stock has come under pressure amid concerns that agentic artificial intelligence will disrupt its traditional Software-as-a-Service business model. While Salesforce is not expected to be a major winner amid AI disruptions, Guggenheim insists the current stock price reflects extreme conditions. For instance, the current stock price implies the stock will decline by 5% in perpetuity, something that the research firm does not agree with.

Guggenheim’s John DiFucci has termed the fatal AI bear case on the software giant as a ‘hallucination’. In the first quarter of fiscal 2027, the company delivered solid financial results, with 13% revenue growth to $11.13 billion and non-GAAP EPS of $3.88, topping consensus estimates of $3.12 a share.

Salesforce Inc. (NYSE:CRM) is a cloud-based software company that provides Customer Relationship Management (CRM) solutions. It offers a centralized platform for businesses to manage sales, customer service, marketing, and e-commerce, while integrating AI agents and unified customer data to build stronger relationships and automate daily workflows.