5 Best Nancy Pelosi Stocks to Buy Now

4. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 117   

Salesforce, Inc. (NYSE:CRM) provides customer relationship management technology that brings companies and customers together worldwide. It is one of the top stocks in the Nancy Pelosi stock portfolio. On October 4, Salesforce revealed that it ended a pandemic-era program in which the company’s engineers and technical staff received a paid day off for well-being every month. A mandatory filing from late December shows that Pelosi bought Salesforce, Inc. (NYSE:CRM) stock worth somewhere $500,000 to $1,000,000 last year. 

On October 20, Piper Sandler analyst Brent Bracelin maintained an Overweight rating on Salesforce, Inc. (NYSE:CRM) stock and lowered the price target to $175 from $200, noting that the advisory sees several factors that could further pressure billings, revenue, and free cash growth estimates into 2023, including elongating sales cycles, a shift in payment timing as customers preserve cash, elevated currency headwinds and budgetary constraints entering a 2023 recession.

At the end of the third quarter of 2022, 117 hedge funds in the database of Insider Monkey held stakes worth $8.2 billion in Salesforce, Inc. (NYSE:CRM), compared to 116 in the preceding quarter worth $7.9 billion. 

In its Q3 2022 investor letter, Oakmark Funds, an asset management firm, highlighted a few stocks and Salesforce, Inc. (NYSE:CRM) was one of them. Here is what the fund said:

“Salesforce, Inc. (NYSE:CRM) has become a dominant global player in sales, customer service, commerce and marketing software over the past 20 years. The company earns 80% gross margins and grows 20% organically. Plus, virtually all of its revenue is recurring. We see Salesforce as a great business that we’ve admired from afar for a long time. More recently, the organization has made some changes at the top that prompted us to take a closer look at the stock. New CEO Bret Taylor and CFO Amy Weaver are bringing a culture of financial discipline. We believe this renewed focus on profitability and capital return, combined with Salesforce’s strong underlying business characteristics, will yield strong results. The current valuation of 3.9x next year’s revenues represents a significant discount compared to publicly traded peers and recent private market values in the software space that have similar growth profiles. We view this discount as an opportunity to invest in a great business at a good value.”