5 Best Stocks For Long Term Growth

2. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 131

P/E Ratio: 109.97

Salesforce, Inc. (NYSE:CRM) is a leading American cloud-based software provider specializing in customer relationship management. Offering a comprehensive suite of software solutions across sales, customer service, marketing automation, e-commerce, analytics, and application development, Salesforce caters to a wide range of business requirements.

On January 30, BofA identified Salesforce, Inc. (NYSE:CRM) as one of its top picks for 2024. Analyst Brad Sills underscored Salesforce’s strategic positioning to expand its market share in the $200 billion market. Sills highlighted Salesforce’s competitive advantage, with a market share of only 15% and a strong moat supported by its extensive base of over 150,000 customers in the core sales/front office category.

During the fourth quarter of 2023, Insider Monkey’s research revealed that out of 933 hedge funds covered, 131 were shareholders of Salesforce, Inc. (NYSE:CRM). The largest hedge fund shareholder of Salesforce, Inc. (NYSE:CRM) is Ken Fisher’s Fisher Asset Management, with a $3.9 billion investment.