SA Analysts appear bullish on Salesforce, see what they have to say

Seeking Alpha Analysts have a more bullish general outlook for shares of Salesforce (NYSE:CRM). The software firm recently at the Dreamforce 2024 event unveiled new collaborations with Google Cloud (GOOG) (GOOGL) and Nvidia (NVDA) to boost the capabilities of its customizable artificial intelligence (AI) agent builder Agentforce.

The extended partnership with Google enables customers to deploy AI agents that seamlessly integrate and operate across both Salesforce Customer 360 and Google Workspace, ensuring secure communication between the two platforms.

See what some of Seeking Alpha’s analysts have to say about Salesforce (CRM):

On the Pulse stated: “The company is undervalued at 22x leading profits, with strong growth prospects, share repurchases, and a new AI acquisition to boost future growth,” in Salesforce: You’ll Regret Not Picking Up This 22x P/E Bargain.

The Asian Investor said: “Salesforce’s valuation is attractive with a P/E ratio of less than 24X: it is cheaper than it was in the past and cheaper relative to other software companies,” in Salesforce: Top Value For Growth Investors.

Oliver Rodzianko indicated: “The company benefits from cost restructuring, AI innovations (Salesforce Einstein), and cloud growth…Salesforce shows stronger earnings than revenue growth and is fairly valued but is vulnerable to competition from big tech and agile startups, particularly in AI and pricing flexibility,” in Salesforce: Q2 Might Outperform On Lowered Expectations After Q1.

Luca Socci outlined: “While the stock has recovered from its bottom, there is still ample room for multiple expansion given the current valuation,” in Salesforce Earnings Preview: The Newfound Maturity Is Richly Rewarding Shareholders.

Furthermore, for investors looking to gain access to CRM from a more diversified stance, they can look towards exchange-traded funds as a potential source of investment. Currently, 97.9M shares of Salesforce (CRM) are held inside a total of 354 ETFs. Highlighted below are the five funds with the largest allocations towards the stock.

• iShares Expanded Tech-Software Sector ETF (IGV): 8.83% allocation.
• REX FANG & Innovation Equity Premium Income ETF (FEPI): 6.41% allocation.
• Pacer US Cash Cows Growth ETF (BUL): 5.24% allocation.
• AOT Growth and Innovation ETF (AOTG): 5.12% allocation.
• FT Vest Dow Jones Internet & Target Income ETF (FDND): 5.12% allocation.