8 Best Dow Stocks To Buy According to Hedge Funds

4. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 154

Salesforce, Inc. (NYSE:CRM) is a California-based company that offers Customer Relationship Management (CRM) technology worldwide. Hedge fund sentiment was positive toward Salesforce, Inc. (NYSE:CRM) in Q1 as hedge funds with investments in the stock were 154 in the quarter, with positions worth $16.62 billion. This is compared to 131 funds with positions worth $14.98 billion in the preceding quarter. Fisher Asset Management is the biggest shareholder in the company as of March 31 and has a position worth $3.265 billion.

As of May 23, Salesforce, Inc. (NYSE:CRM) has a consensus Buy rating among 28 Wall Street analysts, and its average price target of $338.45 implies an upside of 21.78% from current levels.

Vulcan Value Partners commented on Salesforce, Inc. (NYSE:CRM) in its first quarter 2024 investor letter:

“Salesforce, Inc. (NYSE:CRM) is the world’s leading SaaS vendor for customer relationship management (CRM) and salesforce automation (SFA) software. Free cash flow for FY2024 came in significantly better than expected, and Salesforce guided free cash flow growth to again be very strong in FY2025. The company also pointed to several things with the potential to accelerate future growth including pricing, artificial intelligence, and a better buying environment.”