by winston » Tue Jan 07, 2020 2:29 pm
not vested
Salesforce.com (CRM)
This company is well-known, almost a household name, and definitely a staple for online marketers.
Salesforce was an early leader in the cloud computing sector, and quickly became a leading name in Customer Relationship Management (also CRM, like the ticker).
The company’s products include cloud-based subscription software for tracking sales and commerce, databases, marketing efforts, customer service, and business analytics.
Salesforce is the largest of the companies in this list, with a market cap of $153 billion – up almost 11% in the past month.
Company management has set a goal increasing total revenues from FY2019’s $13 billion to $34 billion by 2024.
The most recent quarterly report, for calendar Q3 2019, showed that CRM is on track toward this goal – the $4.5 billion top-line revenue beat the forecast, as did the 75-cent EPS figure.
The upgrade on Salesforce came from RBC Capital analyst Alex Zukin. Zukin holds 5 stars from TipRanks, and is ranked #29 overall in the analyst database.
On Salesforce, Zukin had already rated the stock a Buy, but now he’s made the stock one of his Top Picks.
Supporting his increased optimism, Zukin writes, “We think that Salesforce continues to grow cRPO >20% and that there are many avenues to sustain growth, including service and marketing, the platform, and international and future initiatives… we think Salesforce can continue to drive premium growth for its size and it remains an important strategic asset.”
Along with the upgraded stance, Zukin also raised his price target on the stock to $215, suggesting an upside of 24% for CRM. (To watch Zukin’s track record, click here)
All in all, Salesforce gets a Strong Buy rating from the analyst consensus, based on no fewer than 24 Buys against a single Hold.
Shares currently sell for $172, and the average price target of $192 indicates an upside potential of 11%.
Source: TipRanks
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