5 Return-to-Office Stocks to Buy in 2022

2. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 110

Salesforce, Inc. (NYSE:CRM) provides customer relationship management technology that brings companies and customers together worldwide. The company’s CRM platform is widely used by businesses to drive growth, and as companies reopen their doors to more talent and shift operations on-premise, the demand for its platform is bound to soar, making it the runner-up return-to-office stock to buy in 2022.

This March, Salesforce, Inc. (NYSE:CRM) released an earnings report which detailed its earnings for the fiscal fourth quarter of 2022. The company generated revenues of $7.33 billion, up 25.94% year over year, and beat revenue estimates by $84.15 million. Moreover, the company reported earnings per share of $0.84, beating EPS estimates by $0.09.

On March 2, 2022, BMO Capital analyst Keith Bachman raised his price target on Salesforce, Inc. to $260 from $240 and reiterated an Outperform rating on the shares after its the company’s fourth-quarter earnings beat market consensus.

Salesforce, Inc. (NYSE:CRM) was spotted on 110 investment portfolios at the end of the fourth quarter of 2021. The total stakes of these hedge funds came in at $11.45 billion. Of these, Fisher Asset Management was the most prominent shareholder in the company owning over 14.5 million shares of stock as of December 31, 2021. The investment covers 2.07% of Ken Fisher’s hedge fund portfolio.

Oakmark Funds explained what makes Salesforce, Inc. (NYSE:CRM) a “great investment choice” in its first-quarter 2022 investor letter. Here is what experts at Oakmark Funds said:

“Over the past 20 years, Salesforce (NYSE:CRM) has become a dominant global player in sales, customer service, commerce and marketing software. CRM earns 80% gross margins, grows 20% organically and virtually all of its revenue is recurring. It’s 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, combined with Salesforce’s strong underlying business characteristics, will yield strong results. The current valuation of 5x next year’s revenues represents a significant discount compared to publicly traded comparables and private market values in the software space. We view this discount as an opportunity to invest in a great business at a good value.