Jim Cramer Stock Portfolio: 5 Recent Additions

Page 1 of 5

In this article, we discuss 5 recent additions to Jim Cramer stock portfolio. If you want to see more stocks in this selection, check out Jim Cramer Stock Portfolio: 10 Recent Additions

5. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 117

Salesforce, Inc. (NYSE:CRM), an American customer relationship management company, is one of the recent additions to Jim Cramer’s stock portfolio. On November 22, Jim Cramer listed a handful of beaten down tech stocks that he thinks can make a comeback after the Fed eases up on economic tightening. Salesforce, Inc. (NYSE:CRM) was one of these tech stocks backed by Cramer. Cramer’s Charitable Trust owns a stake in Salesforce. 

On November 29, KeyBanc analyst Michael Turits maintained an Overweight rating on Salesforce, Inc. (NYSE:CRM) but trimmed the price target on the shares to $200 from $210 ahead of Q3 results. The analyst also slashed fiscal 2024 estimates. He remains optimistic about the long-term outlook for Salesforce, Inc. (NYSE:CRM) as a front office applications leader, and was encouraged by the company’s fiscal 2026 $50 billion revenue, 25% margin analyst day targets, and by the impact of activist investor Starboard on margins.

According to Insider Monkey’s data, 117 hedge funds were bullish on Salesforce, Inc. (NYSE:CRM) at the end of the third quarter of 2022, compared to 116 funds in the prior quarter. Ken Fisher’s Fisher Asset Management held the largest stake in the company, comprising 12.7 million shares worth $1.8 billion. 

Aristotle Atlantic made the following comment about Salesforce, Inc. (NYSE:CRM) in its Q3 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.”

Follow Salesforce Inc. (NYSE:CRM)

Page 1 of 5