Should You Buy the Dip and Follow Insiders into These 10 Stocks?

6. Salesforce, Inc. (NYSE:CRM)

Number of Insiders Buying: 1

Market Capitalization: $269.80 billion

Sixth on this list of 10 recent insider purchases is a designer and developer of cloud-based enterprise software for customer relationships, Salesforce. The San Francisco-based company offers applications focused on customer service and support, market automation, analytics, sales force automation, and e-commerce, while also providing industry-specific solutions. It is also one of the 10 best software stocks to buy according to billionaires.

Salesforce Agentforce is a platform that enables organizations to build, customize, and deploy autonomous AI agents for various business functions, including service, sales, marketing, and commerce. Some experts are bullish on the stock mostly because of Agentforce and recent positive projections on the future adoption of AI technologies.

Among the recent company’s development Singapore Airlines’s incorporation of Agentforce, Einstein in Service Cloud, and Data Cloud into its customer case management system, enabling it to deliver more consistent and personalized service to its customers.

“The rise of digital labor, powered by autonomous AI agents, is not just reimagining the customer experience — it’s transforming business,” stated Marc Benioff, chair and CEO of Salesforce. “We’re thrilled to partner with Singapore Airlines, a trailblazer in this AI revolution, to elevate their already outstanding customer service to unprecedented heights, augment their employees and collaborate on groundbreaking AI solutions for the airline industry. With our deeply unified digital labor platform, we’re bringing humans together with trusted, autonomous AI agents, unlocking new levels of productivity, innovation and growth.”

For the third quarter of 2024, the company reported revenue of $9.44 billion, up 8% year-over-year. In December, the company’s board of directors declared a quarterly cash dividend of $0.40 per share.

Recently, Mad Money host, Jim Cramer, commented on the stock saying “Salesforce….is a huuuuuuge buy.”

On February 28, one insider bought $499,355.48 worth of Salesforce shares at a price of $294.61 per share. Year-to-date, the stock dropped 16.03% and is now trading at $280.75. Over the past 12 months, Salesforce shares lost 6.58%.

The consensus rating on Salesforce stock from 42 analysts is “Moderate Buy,” according to MarketBeat. The average price target of $364.14 suggests a 29.67% upside.