Jim Cramer on Salesforce: "I Gotta Do More Work"

Salesforce, Inc. (NYSE:CRM) is one of the stocks Jim Cramer shared his take on. A caller inquired why the stock is not performing better despite a strong quarterly report, and Cramer responded:

“Okay, Salesforce has got an issue. We’re going to find out when we go out to Dreamforce. The problem with Salesforce is there are a lot of people, not me because we own it for the Charitable Trust, but there are a lot of people who feel that they’re so successful that they’re actually making it so that their clients don’t use as much product and that also the clients have developed some AI products that they make it so they don’t need Salesforce.

Marc Benioff’s made a tremendous amount of money for people. He is owed more of a viewpoint on this than just that quick and dirty explanation of why the stock’s going down. So even though it’s down 27%, I’m going to reserve judgment until I do more work when I am out there. It’s not a cop out, I gotta do more work.”

Salesforce, Inc. (NYSE:CRM) delivers CRM and AI-powered platforms that integrate data, analytics, communication, and automation tools.

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