5 Best Growth Stocks To Buy According To George Soros

3. Salesforce, Inc. (NYSE:CRM)

Soros Fund Management’s Stake Value: $97,463,000

Percentage of Soros Fund Management’s 13F Portfolio: 1.66%

Number of Hedge Fund Holders: 117

Salesforce, Inc. (NYSE:CRM) is a well-established leader in the customer relationship management (CRM) space, with a long history of providing reliable and innovative solutions to customers in a variety of industries. The company’s strong track record of success is evidenced by its impressive customer base, which includes some of the world’s most recognizable companies. As of September 30, Soros Fund Management has a stake worth $97.4 million in the company. The stock is one of the best growth stocks to buy according to billionaire George Soros.

On December 5, Citi analyst Tyler Radke revised his price target on Salesforce, Inc. (NYSE:CRM) to $164 from $170 and reiterated a Neutral rating on the shares. This December, Credit Suisse analyst Phil Winslow updated his price target on Salesforce, Inc. (NYSE:CRM) to $225 from $250 and maintained an Outperform rating on the shares.

At the end of Q3 2022, Salesforce, Inc. (NYSE:CRM) was a part of 117 hedge funds’ portfolios that held collective stakes of $8.21 billion in the company. This is compared to 116 positions in the previous quarter with stakes worth $7.90 billion. The hedge fund sentiment for the stock is positive.

Here is what Aristotle Atlantic Partners, LLC had to say about Salesforce, Inc. (NYSE:CRM) in its third-quarter 2022 investor letter:

“We sold Salesforce, Inc. (NYSE:CRM) to reduce our weighting in the Information Technology sector. Salesforce held their investor day, and the company reiterated their organic Fiscal Year 2026 revenue target of $50 billion. This target remains more back-end loaded based on current slowing macroeconomic conditions and requires new annual contract growth well ahead of what the company has been averaging for the past few years. We are skeptical that the company will be able to achieve this revenue target organically and see Merger & Acquisitions (M&A) being key to achieving the growth. While we believe Salesforce has shown good success in growing its non-CRM clouds, we do see more competitive pressures emerging for the Marketing and Customer Service Clouds, specifically on the pricing side during a global economic slowdown.”