Jim Cramer Discusses Salesforce (CRM)'s Business

We recently published 11 Stocks on Jim Cramer’s Radar.  Salesforce, Inc. (NYSE:CRM) is one of the stocks on Jim Cramer radar.

Salesforce, Inc. (NYSE:CRM) is a customer relationship management software provider. Its shares are down 18% over the past year amidst broader turmoil for the software industry. However, Salesforce, Inc. (NYSE:CRM)’s third-quarter earnings results led to some optimism from analysts as Piper Sandler reiterated an Overweight rating and a $315 share price target on December 4th. The financial firm noted the software company’s progress with AI products in its coverage and pointed out that Agentforce recurring revenue had touched $540 million to account for 1.4% of the overall subscription run-rate. Later, on December 19th, Mizuho set a $340 share price target for Salesforce, Inc. (NYSE:CRM) as it also commented that the Agentforce platform was improving its potential for broader industry adoption. Naturally, agentics AI and Agentforce were also on Cramer’s mind as he discussed Salesforce, Inc. (NYSE:CRM):

“This is the software getting eaten by hardware, which is a little bit of a change. I come back and say, that Salesforce is going to fight. I think we should be buyers of Salesforce, because they have an agentics business. But at the same time, I’d rather own Broadcom. . . .

“Well that’s the other part of the business, they have this agentics. I mean I almost wish that Salesforce was called Agentforce. . .well because, that’s the growth business. The other business is, remember these places sell what’s known as a seat business. And anybody who’s in a software business has to be worried because you can do, we all could do software now with how easy it is with AI. That’s a big part of the problem.”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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