Jim Cramer on Salesforce: “I Think It’s Near a Bottom”

Salesforce, Inc. (NYSE:CRM) is one of the software stocks that Jim Cramer named as potential undervalued buys. Cramer noted that the stock is among those that look “enticing” and stated:

Well, those are my top five that passed the strict screen we ran to identify undervalued software stocks. But if you’re willing to step a little outside these strict parameters, I’ve got five more that are starting to look enticing. Well, first, there is Salesforce, which we own for the Charitable Trust.

It barely missed our final screen list because it’s growing earnings at a 12% clip this year, a little slower than the S&P and the aggregate. But man, Salesforce is down 43% from its 52-week high, selling for just 14 times this year’s earnings estimates, literally its lowest price to earnings multiple in history, including 2008, including the Great Recession. I think it’s near a bottom.

Photo by jason briscoe on Unsplash

Salesforce, Inc. (NYSE:CRM) provides CRM-focused tools that help businesses manage customer interactions, use AI agents, analyze data, collaborate, and run marketing, commerce, and field service operations.

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Disclosure: None. This article is originally published at Insider Monkey.