4. Salesforce, Inc. (NYSE:CRM)
EPS Next 5-Year Ratio: 26.77%
Debt-to-Equity Ratio: 0.24
Number of Hedge Fund Holders: 122
San Francisco, California-based Salesforce, Inc. (NYSE:CRM) is the world’s leading customer relationship management platform provider. Its cloud-based platform has applications for sales, service, marketing, and more.
On November 29, Salesforce, Inc. (NYSE:CRM) released its financial results for the quarter ended October 31, 2023. Its revenue went up by 11% to $8.7 billion while net income increased manifold to $1.2 billion. Its normalized EPS of $2.11 exceeded consensus estimates by $0.05.
On December 21, Morgan Stanley analyst Keith Weiss raised the price target for Salesforce, Inc. (NYSE:CRM) shares to $350 from $290 and upgraded the rating to ‘Overweight’ from ‘Equal-Weight’. The target price represents a potential upside of 33.01% based on the latest share price.
Salesforce, Inc. (NYSE:CRM) is a highly sought after technology stock among hedge funds as 122 out of the 910 hedge funds tracked by Insider Monkey held its shares with a total value of $10.5 billion, as of Q3 2023. Ken Fisher’s Fisher Asset Management was its largest hedge fund shareholder with ownership of 14.2 million shares valued at $2.9 billion.