Salesforce (CRM)

• Sector: Information Technology
• Industry: Prepackaged Software

About: Salesforce provides enterprise cloud computing solutions. The company offers customer relationship management technology that brings companies and customers together. Its Customer 360 platform helps the group to deliver a single source of truth, connecting customer data across systems, apps, and devices to help companies sell, service, market, and conduct commerce. It also offers Service Cloud for customer support, Marketing Cloud for digital marketing campaigns, Commerce Cloud as an e-commerce engine, the Salesforce Platform, which allows enterprises to build applications, and other solutions, such as MuleSoft for data integration.

Employees: 72,682

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

29% more repeat investments, than reductions

Existing positions increased: 1,207 | Existing positions reduced: 936

1% less call options, than puts

Call options by funds: $5.36B | Put options by funds: $5.4B

1.95% less ownership

Funds ownership: 81.6% [Q1] → 79.65% (-1.95%) [Q2]

5% less funds holding

Funds holding: 2,692 [Q1] → 2,549 (-143) [Q2]

15% less capital invested

Capital invested by funds: $238B [Q1] → $201B (-$36.7B) [Q2]

42% less funds holding in top 10

Funds holding in top 10: 130 [Q1] → 76 (-54) [Q2]

45% less first-time investments, than exits

New positions opened: 177 | Existing positions closed: 320

Research analyst outlook

36 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $236 16% downside
• Avg. target: $308 10% upside
• High target: $400 42% upside

36 analyst ratings

• positive: 27 75%
• neutral: 9 25%
• negative: 0 0%

Northland Capital Markets Nehal Chokshi 71% 1-year accuracy 5 / 7 met price target	42% upside $400	Outperform Upgraded	2 Oct 2024
Wedbush Daniel Ives 73% 1-year accuracy 74 / 101 met price target	16% upside $325	Outperform Maintained	27 Sept 2024
Piper Sandler Brent Bracelin 61% 1-year accuracy 52 / 85 met price target	16% upside $325	Overweight Upgraded	24 Sept 2024
Needham Scott Berg 36% 1-year accuracy 36 / 99 met price target	23% upside $345	Buy Reiterated	20 Sept 2024
Truist Securities Terry Tillman 76% 1-year accuracy 22 / 29 met price target	12% upside $315	Buy Reiterated	19 Sept 2024