Jim Cramer on Salesforce: "They've Got a Terrific Business"

Salesforce, Inc. (NYSE:CRM) is one of the stocks Jim Cramer recently shared his thoughts on. A caller asked Cramer for his thoughts on the stock after taking a large position, and noted the stock’s underperformance year-to-date. Cramer commented:

“At 21 times next year’s earnings, I’m beginning to think that, that I’m not going to pull the trigger on more because… the trust has a very small position. I’m beginning to think that the buy case is just much better than the sell case, down 27%. They’ve got a terrific business. They’re everywhere. I think Salesforce is okay to buy if you don’t own any. I’ll pound the table if it goes even lower.”

Salesforce, Inc. (NYSE:CRM) provides CRM technology and cloud-based solutions that integrate sales, marketing, commerce, service, analytics, and AI-driven tools. In an August episode, when a caller sought Cramer’s advice on the stock, he responded:

“Okay, Salesforce, great question. I’ve owned the stock for, I don’t know, more than a decade. Here’s the problem… It’s enterprise software, and right now, the long knives are out for enterprise software. I need to see the quarter before I tell you… We own a small position for a Charitable Trust. We used to have a very big position. I’m nervous about exactly what I just laid out, which is this enterprise software of which Salesforce is very much involved in, even its ‘agentics,’ which is marvelous, is part of the software cohort.”

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Disclosure: None. This article is originally published at Insider Monkey.