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Bull Signal Flashing for Salesforce.com, inc. (CRM) Stock
By: Schaeffer's Investment Research | April 22, 2024
• The equity's 126-day moving average acted as a springboard in the past
• CRM is overdue for a near-term bounce
Salesforce.com, inc. (NYSE:CRM) stock is 0.2% higher at $270.90 at last glance. Shares of the blue-chip cloud technology stock recently suffered a bear gap on the charts that pulled it away form its March 1, record high of $318.72. The equity has shed 11.6% over the last month and is now closing in on its year-to-date breakeven mark, though a historically bullish trendline could help turn things around.
Specifically, Salesforce.com stock just came within one standard deviation of its 126-day moving average, after months spent above this trendline. According to data from Schaeffer's Senior Quantitative Analyst Rocky White, one similar signal was seen over the last three years. CRM enjoyed a positive return one month later after that instance, snagging a 5.5% gain. From its current perch, a comparable move would place the security at nearly $286.
The stock's 50-day put/call volume ratio of 0.91 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is in the elevated 85th percentile of its annual range. This suggests a very healthy appetite for long puts of late, and an unwinding of this pessimism could help the stock move higher.
The stock's "oversold" 14-day relative strength index (RSI) of 23.9 points to near-term tailwinds. Options are affordable at the moment too, per Salesforce.com stock's Schaeffer's Volatility Index (SVI) of 29% that ranks in the 20th percentile.
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Today Salesforce.com Inc. (CRM) is the best performer in the DJIA
By: Thom Hartle | April 22, 2024
• Today (8:32 CST), the best performer in the DJIA is Salesforce.com Inc. CRM.
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Today Salesforce.com Inc. (CRM) is the best performer in the DJIA
By: Thom Hartle | March 6, 2024
• Today (8:32 CST), the best performer in the DJIA is Salesforce.com Inc. CRM.
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Salesforce $CRM decent Call roll
By: Flowrensics | March 5, 2024
• $CRM decent roll.
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2 Cloud Stocks In Focus After Earnings
By: Schaeffer's Investment Research | February 29, 2024
• Snowflake and Salesforce.com both reported fourth-quarter results
• Analysts are targeting both stocks
Snowflake Inc (NYSE:SNOW) and Salesforce Inc (NYSE:CRM) are moving in vastly different directions today, after the cloud computing companies both reported quarterly results.
SNOW FALLS AFTER ICE-COLD FORECAST, C-SUITE CHANGE
Shares of cloud data storage name Snowflake are 19.4% lower at last glance, last seen trading at $185.44. Not only did the company's first-quarter outlook disappoint, CEO Frank Slootman, who took the company public in 2020, is also retiring.
In response, SNOW drew a slew of bear notes, including at least 20 price-target cuts. Most notable was Morgan Stanley's note, which included a downgrade to "equal weight" from "overweight" and a price-target cut to $175 from $230. The 12-month target price of $230.15 is a 24.8% premium to current levels, while 26 of 39 covering brokerages still rate SNOW a "buy" or better. This means more bear notes could be on the way.
Today's fall dragged Snowflake stock below its year-to-date breakeven level, now down 7.1% in 2024. The equity also just crossed back below its 80-day moving average for the first time since early November.
ANALYSTS LIFT BLUE CHIP'S PRICE TARGET
The brokerage bunch is chiming in on Dow component Salesforce stock as well, after the company's downbeat annual revenue growth forecast. This was lighter than what analysts expected, but sentiment got a boost from better-than-expected fourth-quarter earnings and revenue.
No fewer than 20 analysts lifted their price targets on the tech stock. Raymond James looks to be the most optimistic, moving all the way up to $380 from $300. There's room for upgrades, too, considering 13 of 40 covering firms rate CRM a "hold" or "strong sell."
Last seen up 1.1% to trade at $303.29, the stock earlier secured a fresh two-year high of $308.50. On a closing basis, the $280 level stepped up to save two recent pullbacks, and more recently the $295 area has acted as a floor. Salesforce stock is up more than 81% in the last 12 months, and now boasts a nearly 15% year-to-date lead.
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THESE CROOKS ALWAYS COOKS THEIR BOOKS!!!!!!!!!
Today (8:32 CST), the best performer in the DJIA is Salesforce.com Inc. CRM
By: Thom Hartle | February 23, 2024
• Today (8:32 CST), the best performer in the DJIA is http://Salesforce.com Inc. CRM.
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Today Salesforce.com Inc. (CRM) is the best performer in the DJIA
By: Thom Hartle | February 22, 2024
• Today (8:32 CST), the best performer in the DJIA is http://Salesforce.com Inc. CRM.
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Today (8:34 CST), the best performer in the DJIA is Salesforce.com Inc. CRM
By: Thom Hartle | February 14, 2024
• Today (8:34 CST), the best performer in the DJIA is Salesforce.com Inc. CRM.
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CRM new 52 week high
Salesforce is cutting 700 jobs - WSJ
By: Investing | January 26, 2024
Salesforce (NYSE:CRM) is set to lay off approximately 700 employees, constituting around 1% of its workforce, according to the Wall Street Journal.
The cloud-based customer-relationship management software company had undertaken a more significant reduction of 10% (about 8,000 employees) one year ago in response to investor pressure to cut costs.
The current layoffs are part of Salesforce's ongoing efforts to focus spending on growth, with the company still having around 1,000 open positions across various departments. This move is seen as a routine adjustment of the workforce rather than a significant shift in strategy.
Salesforce's decision comes after facing challenges in the previous year, dealing with a post-pandemic sales slowdown that impacted its growth. Activist investors, including Elliott Management, sought to increase the company's profit margins more rapidly than originally planned.
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$CRM Not a single insider buy in sight
By: TrendSpider | January 24, 2024
• $CRM Not a single insider buy in sight.
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CRM new 52 week high
CRM new week high
Salesforce $CRM nice move last week, 275 big reistance. Watch for dips to the 8D
By: Options Mike | January 15, 2024
• $CRM nice move last week, 275 big reistance.
Watch for dips to the 8D.
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CRM new 52 week high
Salesforce (CRM) Stock is Heavily in Demand
By: Lucas Downey | December 26, 2023
• Salesforce.com, Inc. (CRM) shares have more than doubled, up 101% this year. What’s incredible is how the shares have traded recently.
Salesforce Shares are Surge with Inflows
Over the past year, CRM’s stock has climbed alongside increasing volumes. That’s indicative of healthy institutional support.
Each green bar signals unusual increasing volumes in CRM shares, pushing the stock higher:
Source: www.mapsignals.com
Few stocks have charts this strong. Recent green bars suggest healthy demand. Now, let’s check the fundamental story.
Salesforce Fundamental Analysis
Institutional support coupled with a healthy fundamental backdrop makes this company interesting. As you can see, CRM has had positive sales & earnings growth in recent years:
• 3-year sales growth rate (+13.8%)
• 3-year EPS growth rate (+65%)
Source: FactSet
Now it makes sense why the stock has been powering higher. CRM is an earnings powerhouse.
Marrying great fundamentals with our proprietary software has found some big winning stocks over the long-term.
Check this out. Salesforce has been a top-rated stock at MAPsignals. That means the stock has had unusual buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.
It’s made the rare Top 20 report many times. The blue bars below shows when CRM was a top pick:
Source: www.mapsignals.com
Tracking unusual volumes reveals the power of money flows.
This is a trend that’s hard to fight.
Salesforce Price Prediction
The CRM rally began months ago. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.
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Salesforce $CRM +99% YTD One of 4 DJIA winners +50% or more in 2023
By: Mike Zaccardi | December 21, 2023
• $CRM +99% YTD
One of 4 DJIA winners +50% or more in 2023
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2024 is the year to own Salesforce (CRM), says Wolfe Research
By: Investing | December 18, 2023
Wolfe Research upgraded Salesforce (NYSE:CRM) stock to Outperform from Peer Perform with a $315 price target on Monday. The firm believes that 2024 is the year to own Salesforce, citing several reasons for its optimism.
"Last year we downgraded CRM to PP after F3Q23 earnings given the combination of growth deceleration, management disruption, lack of commitment to margin leverage and incremental execution risk from M&A mis-adventures," analysts wrote in the note. "Fast forward 365 days (and a few good activists), and we think CY24 is the year to own this value growth stock."
The analysts' core thesis is that Salesforce's growth has bottomed and should stay in the double digits for the foreseeable future, driven by pricing increases, product cycles, and artificial intelligence (AI). They also believe that Salesforce is committed to margin leverage and that its leadership team is stable.
Despite mixed field checks, the company's third quarter showed that Salesforce is back to executing, with Cloud Commerce (CC) cRPO growth accelerating to 13% and non-GAAP operating margins expanding from 23% to 31%.
Wolfe Research is also bullish on Salesforce's prospects from its GenAI-driven product cycle, which includes Data Cloud and Einstein GPT. The investment firm said its checks suggest Data Cloud is in nearly all conversations and that it was part of six of the top ten deals in the most recent quarter.
Additionally, Salesforce added 1,000 new Data Cloud customers and 17% of the Fortune 100 are now Einstein GPT Copilot customers, Wolfe Research noted.
Analysts also see double-digit upside to consensus free cash flow (FCF) estimates over the next two years. They also stated that "30% operating margins are cool, but getting to 40% over the next few years would be iconic."
"The company's shift to profitability has caused shares to re-rate, and we continue to see upside to FCF and EPS targets all while CRM is entering a product cycle around GenAI," said Wolfe Research. "We believe adoption of new products and sustained pricing power can drive double-digit top-line growth in 2024, all while margins continue to inflect as the risk or large scale dilutive M&A appears to be dissipating."
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Salesforce is a $10+ earnings story in 2025 - Jefferies
By: Investing | December 15, 2023
Salesforce (NYSE:CRM) hosted its World Tour event in New York City this week with the keynotes addressing the company's expanded capabilities of Einstein and Data Cloud, including vector databases and RAG search, Einstein Copilot, and enhanced integrations with Apple.
Reacting to the event, analysts at Jefferies, who have a Buy rating and a $300 per share price target on the stock, said they came away incrementally positive on management's pricing and packaging announcements in order to encourage Data Cloud adoption.
"First, mgmt. will offer Data Cloud and Tableau for free to all customers (with limitations)," the analysts wrote. "Second, mgmt. announced Unlimited+ SKUs for Sales and Service Clouds, which include Slack, Gen AI capabilities, and Data Cloud credits. We believe these incremental announcements are intended to increase Data Cloud adoption."
Despite the more than 90% move up so far in 2023, Jefferies sees CRM as a "$10+ earnings story" in the 2025 calendar year.
Elsewhere, analysts at Citi, who have a Neutral rating and $265 price target on the stock, said that with vector databases and RAG search towards the peak of the hype cycle around GenAI technology at the moment, they "see the new product announcements from CRM as more of a PR/mindshare goal, with the adoption gated by the maturity/scale of customers' Data Cloud environments, which are still early."
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'Since July, Marc Benioff has been selling about $3 million worth of Salesforce shares almost daily. Including a smaller selling streak earlier in the year, Benioff has unloaded more than $475 million worth of shares in 170 or so transactions.'
By: Jesse Felder | December 13, 2023
• 'Since July, Marc Benioff has been selling about $3 million worth of Salesforce shares almost daily. Including a smaller selling streak earlier in the year, Benioff has unloaded more than $475 million worth of shares in 170 or so transactions.'
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Salesforce $CRM Very tight consolidation pattern.. 255 clear if you want to be safe
By: Options Mike | December 10, 2023
• $CRM Very tight consolidation pattern.. 255 clear if you want to be safe.
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Salesforce (CRM) Paradigm Shift: End of Easy Tech Sales Era
By: Investing | December 8, 2023
Quiver Quantitative - At Salesforce (NYSE:CRM), the traditionally buoyant culture of cushy tech jobs is undergoing a Darwinian transformation, signaling a shift in Silicon Valley’s work environment. Once a haven for employees like Kenny, a former software salesman who thrived in the company’s laid-back yet rewarding atmosphere, Salesforce is now at the forefront of a more competitive and demanding industry paradigm. This change comes amidst a broader recalibration in the technology sector, where sales and marketing roles are facing greater scrutiny and higher performance demands.
The golden age of tech sales, especially in companies like Salesforce, where non-engineers could reap substantial financial rewards, seems to be waning. Marc Benioff, co-founder and CEO, pioneered an era of exponential growth through aggressive sales and marketing strategies. However, the recent industry downturn has led to significant layoffs, particularly in sales and marketing departments, with Salesforce employees in these roles being four times more likely to be cut than their engineering counterparts. This shift is evident not just at Salesforce but across various tech firms, reflecting a changing landscape where the value and necessity of sales teams are being re-evaluated.
Salesforce’s transformation underlines a more profound shift in the company's strategy and culture. The once employee-friendly environment is increasingly adopting a performance-driven approach. The company, known for its ethos of "ohana" – a term for family – and its benevolent public image under Benioff’s leadership, is now emphasizing efficiency and productivity. These changes, necessitated by market pressures and investor expectations, mark a departure from the more relaxed and generous culture that characterized Salesforce and similar tech companies in their earlier years.
This new phase in Salesforce’s evolution, and by extension Silicon Valley’s work culture, raises questions about the future of tech sales as a lucrative career path. The era of easy entry into the upper echelons of the economic ladder through tech sales may be coming to an end, replaced by a more challenging and competitive environment. This shift could potentially redefine what it means to work in tech, moving away from the perceived ease and comfort of sales roles to a more demanding and results-oriented landscape.
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Salesforce $CRM They loved that report, needs to cool off. RSI about as hot as it can get. Like it after some consolidation
By: Options Mike | December 3, 2023
• $CRM They loved that report, needs to cool off. RSI about as hot as it can get.
Like it after some consolidation.
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Salesforce (CRM) Stock Trades Up, Here Is Why
By: Investing | November 30, 2023
What Happened: Shares of customer relationship management software maker Salesforce (NYSE:CRM) jumped 7.6% in the morning session after the company reported third quarter results with revenue exceeding Wall Street's expectations by a narrow amount, but both current and total RPO (remaining performance obligations, a leading indicator of revenue) beat more convincingly. In addition, non-GAAP operating profit and non-GAAP EPS outperformed expectations. Free cash flow was yet another bright spot, outperforming by a large magnitude and giving the company ample firepower to invest organically or return capital to shareholders. Despite acknowledging the impact of macro trends on the business, management highlighted "green shoots" at the top of the funnel and in growth in large deal sizes. They also called out ongoing headwinds in professional services (consistent with weaker service revenues from partners this quarter), self-service, and in-period revenues.
Looking ahead, while next quarter's revenue guidance was roughly in line, non-GAAP EPS guidance was ahead. Finally, full year fiscal 2024 guidance was raised slightly for revenue but more convincingly for operating margin, EPS, and operating cash flow, despite ongoing investments in AI and Data Cloud. Overall, the results were not perfect, but demonstrated a very solid performance.
Is now the time to buy Salesforce? Find out by reading the original article on StockStory.
What is the market telling us: Salesforce's shares are quite volatile and over the last year have had 4 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 3 months ago, when the stock gained 6.6% on the news that the company reported second quarter results that beat analysts' revenue, non-GAAP operating profit, and adjusted EPS expectations. The company also slightly improved its gross margin vs. last year. Those really stood out as positives in these results. What drove the stock up as well is the slight increase in full year revenue guidance accompanied by a meaningful increase in profit and cash flow guidance. Additionally, Salesforce is calling for 10+% constant-currency cRPO (current remaining performance obligations, a leading indicator of revenue) growth next quarter, which is better than fears of the company slipping into the single digits for that important metric.
Zooming out, this was a strong quarter, showing that the company is staying on target.
Following the results, multiple Wall Street analysts raised their price targets for Salesforce. J.P. Morgan analyst Mark Murphy raised his price target from $230 to $240, adding, "We maintain our view that Salesforce operates a business model that is bending, but not breaking, even within a challenging macro that is affecting all software companies, and we continue to see eventual upside from current levels as the company pivots to a recession playbook and balances slower growth with profitability and FCF generation while infusing Generative AI capabilities into its clouds."
Salesforce is up 81.7% since the beginning of the year. Investors who bought $1,000 worth of Salesforce's shares 5 years ago would now be looking at an investment worth $1,716.
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Today Salesforce.com Inc. (CRM) is the best performer in the DJIA
By: Thom Hartle | November 30, 2023
• Today (8:32 CST), the best performer in the DJIA is Salesforce.com Inc. CRM.
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Salesforce (CRM) lifts annual guidance after Q3 earnings beat expectations; stock jumps
By: Investing | November 29, 2023
Salesforce lifted its annual guidance on Wednesday after reporting third-quarter earnings that topped expectations as a ramp-up in enterprise spending boosted performance.
Salesforce Inc (NYSE:CRM) gained more than 7% in after-hours trade following the report.
Salesforce.com reported adjusted EPS of $2.11 on revenue of $8.72 billion. Analysts polled by Investing.com anticipated EPS of $2.06 cents on revenue of 8.72B.
For the fourth quarter, the company expects adjusted EPS of $2.25 to $2.26, above Wall Street forecasts for EPS of $2.17. While revenue is forcast in a range of $9.18B to $9.23B, in line with estimates for $9.22B.
For fiscal 2024, the company said it now expects adjusted EPS of $8.18 to $8.19 and revenue of $34.75B to $34.8B, up from a prior forecast for EPS of $8.04 to $8.06 on revenue of $34.70B to $34.80B.
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Salesforce Stock is UP after reported earnings $11.18=241.53 as I post.
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Salesforce $CRM Just Reported Earnings...
By: Evan | November 29, 2023
• SALESFORCE $CRM JUST REPORTED EARNINGS
EPS of $2.11 beating expectations of $2.06
Revenue of $8.72B in line with expectations
SALESFORCE $CRM SEES 4Q REV. $9.18B TO $9.23B, EST. $9.22B
SALESFORCE SEES 4Q ADJ EPS $2.25 TO $2.26, EST. $2.17
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Salesforce (CRM) Q3 Earnings: What To Expect
By: Investing | November 28, 2023
Customer relationship management software maker Salesforce (NYSE:CRM) will be announcing earnings results tomorrow after market hours. Here's what investors should know.
Last quarter Salesforce reported revenues of $8.60 billion, up 11.4% year on year, slightly ahead of analysts' expectations. It was a strong quarter for the company, with revenue, non-GAAP operating profit, and adjusted EPS beating Wall Street's expectations. The company also slightly improved its gross margin vs. last year.
Is Salesforce buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Salesforce's revenue to grow 11.2% year on year to $8.72 billion, slowing down from the 14.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.06 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 1.2%.
Looking at Salesforce's peers in the sales software segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Freshworks delivered top-line growth of 19.3% year on year, beating analyst estimates by 1.9% and HubSpot (NYSE:HUBS) reported revenues up 25.6% year on year, exceeding estimates by 4.3%. Freshworks traded up 1.9% on the results, and HubSpot was up 9.1%.
Read the full analysis of Freshworks's and HubSpot's results on StockStory.
There has been positive sentiment among investors in the sales software segment, with the stocks up on average 11.9% over the last month. Salesforce is up 12.8% during the same time, and is heading into the earnings with analyst price target of $254.4, compared to share price of $224.74.
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Starboard Value LP Has $424.23 Million Position in Salesforce, Inc. (CRM)
By: MarketBeat | November 26, 2023
• Starboard Value LP decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 20.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,008,076 shares of the CRM provider's stock after selling 522,907 shares during the quarter. Salesforce accounts for about 9.2% of Starboard Value LP's portfolio, making the stock its 3rd largest holding. Starboard Value LP owned approximately 0.21% of Salesforce worth $424,226,000 at the end of the most recent quarter...
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Salesforce (CRM) to offer products on AWS Marketplace for the first time
By: Investing | November 27, 2023
Amazon Web Services will begin to offer select products from Salesforce (NYSE:CRM) on its marketplace service for the first time, the companies announced in a joint statement on Monday, as they look to expand their partnership across data and artificial intelligence.
AWS, the key cloud division of e-commerce giant Amazon (NASDAQ:AMZN), lets businesses sell their software on its AWS Marketplace function. AWS then takes a cut from sales of the product made on the platform.
The agreement will allow cloud service provider Salesforce to streamline purchasing options of several of its products on AWS Marketplace, including its popular customer relationship management and support requests applications. Slack, Salesforce's work messaging app, was not mentioned in the announcement.
Customers will also be to "seamlessly unite" their AWS data into Salesforce's offerings and "infuse" their workflows with generative AI tools, the groups said.
"With this expanded partnership, our joint customers gain powerful new ways to innovate, collaborate, and build more customer-focused applications using the broadest and deepest set of cloud services,” said AWS Chief Executive Adam Selipsky in a statement.
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Today Salesforce.com Inc. (CRM) is the best performer in the DJIA
By: Thom Hartle | November 27, 2023
• Today (8:32 CST), the best performer in the DJIA is Salesforce.com Inc. CRM.
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Salesforce $CRM Weekly falling wedge breakout
By: Theta Warrior | November 26, 2023
• $CRM Weekly falling wedge breakout.
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Citi has balanced view on Salesforce (CRM) growth/margin outlook
By: Investing | November 24, 2023
Analysts at Citi raised the firm's price target on Salesforce (NYSE:CRM) to $247 from $229 per share in a note Friday, maintaining a Neutral rating on the stock.
The analysts told investors that they head into CRM's FQ3 earnings with relatively balanced views on the company’s growth/margin outlook.
"Our partner conversations followed a similar theme as prior Qs, with renewal pressure and new business challenges," the analysts wrote. "One partner saw 'limited to no new net product adoption,' while across the board partners shared that customers have been pushing back on CRM’s aggressive pricing stance at renewals."
The analysts added that the firm stays Neutral-rated on the stock as they believe margin expansion has largely peaked and growth may decelerate
to the high single digits in FY25.
"We slightly lower FQ3 revenue estimates and note some small incremental FX headwinds of ~50bps. Our OPM expectations for FQ4 are more muted given the significant leverage achieved in FQ4 FY23," the analysts added. "We also anticipate limited margin expansion (< 200bps) in FY25 as Salesforce may need to increase headcount to reaccelerate growth, particularly on the genAI side. Data shows that the number of job openings for Salesforce continued to tick up through 3Q."
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Salesforce $CRM nice little flag, 227.50 back in play now..
By: Options Mike | November 19, 2023
• $CRM nice little flag, 227.50 back in play now..
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Salesforce's (CRM) strong stock price wooed some investors during third quarter - filings
By: Investing | November 14, 2023
NEW YORK (Reuters) - Boasting a booming share price, Salesforce (NYSE:CRM) attracted more investor cash during the third quarter even as one of the software company's early public critics further cut its stake, according to regulatory filings.
Sachem Head Capital Management increased its stake in Salesforce by 33% during the third quarter while Farallon Capital Management upped its holding by 30% to own 2.5 million shares on September 30, the filings show.
The two hedge funds had each cut their investments in Salesforce during the second quarter.
Salesforce had become a favorite target for activist investors early in 2023 with five prominent corporate agitators, including Elliott Investment Management, pushing publicly and privately for changes.
Cost cuts, a boost in share buybacks and the dismantlement of its mergers and acquisition committee, plus stronger earnings increased investor backing. And news that one of the activists, Mason Morfit who runs ValueAct Capital, was invited onto the board helped silence some critics, people familiar with the discussions said.
Salesforce's stock price has surged 64% since January.
Still Starboard Value the first activist to speak publicly in October 2022 about needed changes at Salesforce cut its stake again, the filings show. On Sept. 30, the hedge fund owned 1.7 million shares, marking a 14% drop from what it owned at the end of the second quarter. In the second quarter, it cut its stake by 20%.
Investment managers must disclose what they hold in U.S. stocks at the end of each quarter and report that information to the Securities and Exchange Commission 45 days after the end of the quarter. The deadline for so-called 13-F filings for the third quarter is on Tuesday.
While 13-F filings are backward-looking, they are closely watched by investors for trends.
Other investors who may not have been pushing for changes also reduced their holdings during the third quarter. Light Street Capital Management cut its stake by 44%, while Polen Capital Management trimmed it by 3.2%, the filings show.
Activist investors, unlike some mutual funds, often cut their positions quickly after finding success or failure in their efforts to secure changes.
While Salesforce's stock price lost some ground during the third quarter, it has continued to move higher and closed trading at $221.18 on Tuesday.
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Salesforce $CRM is looking ripe to make a move ahead of this month's quarterly earnings report!
By: TrendSpider | November 10, 2023
• $CRM Salesforce is looking ripe to make a move ahead of this month's quarterly earnings report!
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Salesforce (CRM) share price undervalued, promising future outlook
By: Investing | November 9, 2023
Shares of Salesforce Inc (NYSE:CRM) have experienced significant volatility on the New York Stock Exchange, with prices ranging from $196 to $225. The current trading price stands at $211, a figure that suggests the stock may be undervalued, given its intrinsic value of $351.35, as per a valuation model. This discrepancy between the current price and the intrinsic value has sparked discussions among investors and market analysts.
In addition to its intrinsic value, Salesforce's high beta suggests potential future price drops due to market volatility. However, this aspect could also provide investment opportunities for those willing to navigate the fluctuations.
Profits are projected to more than double in the near term, potentially leading to increased cash flows and a rise in share valuation. This anticipated growth is not fully reflected in the current share price, presenting an opportunity for existing shareholders to increase their holdings.
The company's capital structure also plays a role in its current undervaluation. The promising outlook for Salesforce isn't fully incorporated into the current share price, making it an attractive entry point for potential investors who have been tracking the company.
In summary, despite recent volatility and high beta indications, Salesforce's current share price appears undervalued considering its intrinsic value and promising future outlook. This situation presents potential opportunities for both existing shareholders and new investors.
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Salesforce $CRM back up but lagging. 210 clear gets intersting
By: Options Mike | November 5, 2023
• $CRM back up but lagging.
210 clear gets intersting.
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Piper Sandler downgrades software stocks due to overly optimistic consensus growth rates
By: Investing | October 23, 2023
Piper Sandler downgraded software stocks Salesforce (NYSE:CRM), Matterport Inc (NASDAQ:MTTR), and Unity Software Inc (NYSE:U) to Neutral in a note Monday while also lowering Asana Inc (NYSE:ASAN) and Alteryx (NYSE:AYX) to Underweight.
Analysts explained the firm is proactively lowering its 2024 growth estimates and price targets across its coverage list to better reflect near-term demand stabilization trends that "may not support what appears to be an overly optimistic acceleration in median consensus growth rates."
"While we are encouraged that SW [Sector Weight] sector valuations and growth could be nearing a bottom, we have less confidence in acceleration potential," the analysts wrote.
"It remains a "possibility" but doubtful we'll get management blessing to model accelerating growth from formal guidance in January/February," they added.
Piper Sandler said it has lowered CRM (price target cut to $232, down from $268) to Neutral based on increasing execution and M&A risks, AI monetization uncertainty, and its risk-reward, given CRM shares have risen 54% so far this year. Unity (price target lowered to $30 from $48) was downgraded based on the potential downside risks to 2024 ad growth after the company's pricing spat with game developers.
Meanwhile, ASAN (price target moved to $16 from $24) was lowered due to lingering renewal headwinds that limit visibility into the timing of a recovery. AYX (unchanged $30 price target) was cut on risks to the 2024 growth recovery thesis, while MTTR (price target cut to $2 from $4) was downgraded based on a 2024 acceleration that appears too optimistic.
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Salesforce, Inc. (CRM) Shares Acquired by Golden State Equity Partners
By: MarketBeat | September 27, 2023
• Golden State Equity Partners boosted its position in Salesforce, Inc. (NYSE:CRM) by 1,496.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,999 shares of the CRM provider's stock after buying an additional 20,621 shares during the quarter. Salesforce accounts for approximately 1.3% of Golden State Equity Partners' holdings, making the stock its 12th biggest holding. Golden State Equity Partners' holdings in Salesforce were worth $4,648,000 at the end of the most recent quarter...
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Salesforce.com, Inc. $CRM 200 is major support but not much of a bounce off it. W pattern here if it holds
By: Options Mike | September 30, 2023
• $CRM 200 is major support but not much of a bounce off it.
W pattern here if it holds.
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Salesforce (CRM) to hire 3,300 people after layoffs earlier this year- Bloomberg News
By: Investing.com | September 14, 2023
(Reuters) -Cloud-based software firm Salesforce (NYSE:CRM) Inc is hiring 3,300 people across various departments after cutting 10% jobs in January this year, Bloomberg News reported on Thursday, citing CEO Marc Benioff.
"Our job is to grow the company and to continue to achieve great margins," Benioff told Bloomberg in an interview. "We know we have to hire thousands of people."
The new hires will be split among sales, engineering and those working on Saleforce's data cloud product, Chief Operating Officer Brian Millham told Bloomberg.
The company did not immediately respond to a Reuters request for comment on the report.
Salesforce in January said it plans to cut jobs by 10% and close some offices, after rapid pandemic hiring left it with a bloated workforce amid an economic slowdown.
The enterprise software maker has tried to navigate a downturn in tech spending by rolling out a suite of artificial intelligence features and raising prices for the first time in seven years.
Earlier this month, it launched a generative AI tool, called Einstein Copilot, that would be available across its suite of apps from instant messaging service Slack to data visualization tool Tableau and can be tailored by its clients to meet their needs.
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$CRM Insiders at Salesforce have cashed out over $32 Million in shares over the last two weeks
By: TrendSpider | September 13, 2023
• $CRM Insiders at Salesforce have cashed out over $32 Million in shares over the last two weeks
The majority of selling has came from the CEO, Marc Benioff.
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Salesforce $CRM and Google $GOOGL announced today an expansion of their strategic partnership to bring together Salesforce and Google Workspace to drive productivity with AI
By: Evan | September 12, 2023
• Salesforce $CRM and Google $GOOGL announced today an expansion of their strategic partnership to bring together Salesforce and Google Workspace to drive productivity with AI.
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Salesforce (CRM) Dreamforce Conference Kick Off
By: Bespoke Investment Group | September 11, 2023
Salesforce (CRM) kicks off its annual Dreamforce Conference tomorrow. Honing in on the buzzword of the year, AI innovation will be front and center with CEO March Benioff's keynote scheduled to focus on the company's usage of AI in its customer relationship management (CRM) platform. Leading up to the conference, Salesforce has been one of the top performing Tech stocks in the S&P 500, rallying 69% year to date. Historically, CRM has often risen in the six months ahead of the conference and has also risen more often than not in the short-term leading up to the start of the event. Once the Dreamforce Conference begins, CRM has historically averaged a 1.24% gain over the three-to-four-day span with positive returns a little over half the time. From there, CRM usually gives up some of its gains one week later, but the following months are once again positive, although it's worth pointing out that the stock has traded lower in the three months after Dreamforce in each of the last three years.
Compared to the Tech sector, using the S&P 500 Tech ETF (XLK) as a proxy, performance in the lead up to the conference over the past twenty years has usually been positive. In fact, returns in the six months leading up to the conference have been positive 80% of the time. Unlike CRM, when the conference is underway, the Tech sector has fallen more than half the time with an average drop of 0.15%. The weakness has also been prevalent one week after the conference with an average drop of 0.65%. However, that weakness tended to be short-lived with gains on an average basis one, three, and six months after the conclusion of the conference.
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