Followers | 689 |
Posts | 143592 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
![](https://investorshub.advfn.com/uicon/35728.png?cb=1539773763)
Friday, December 04, 2020 4:19:58 PM
By: Schaeffer's Investment Research | December 4, 2020
• Salesforce.com acquired Slack Technologies earlier in the week
• CRM has found support on the charts amid this week's pullback
The running joke about Salesforce.com, Inc. (NYSE:CRM) is that everyone uses it, yet no one knows what it does. The cloud-based software company's primary focus is on helping businesses with their customer relationship management through usage of Salesforce sales, service, and marketing applications.
Salesforce made headlines on Wall Street earlier this week by confirming its acquisition of the popular work-from-home company, Slack Technologies (WORK), on Dec. 1. This was a very expensive move done with the goal of boosting both companies' chances of legitimately competing with Microsoft's (MSFT) Teams function. The shares of Salesforce stock plunged down 7.5% in the day following its announced acquisition of Slack Technologies for $27.7 billion in cash and stock.
The acquisition news brought out all the bears. Within 24 hours of the news breaking, Salesforce stock received no less than three price-target cuts, including one from Barclays to $276 from $315. However, Raymond James also chimed in on CRM with a price-target hike to $280 from $255.
Despite taking a 10% haircut this week after the news, CRM remains up 37% in 2020. Plus, the pullback has found support at the shares' 160-day moving average, a trendline not breached since early May. It's also worth noting, however, that after this weeks damage, the stock sports a 14-day Relative Strength Index (RSI) of 31, which sits just on the cusp of "oversold" territory, meaning a short-term bounce may be in the cards.
![](http://schaeffers-cdn.s3.amazonaws.com/images/default-source/schaeffers-cdn-images/2020/12/intraday/crm-daily-stock-chart.jpg?sfvrsn=ca28dc06_2)
From a fundamentals point of view, Salesforce.com stock is stands in a great position when compared to most tech companies today. The company is growing its revenue at an amazing rate, adding about $12 billion in revenue since 2017. As for its net income, Salesforce has seen some inconsistency, but has ultimately grown net profits in a big way. Perhaps the most impressive thing about Salesforce, from a fundamental perspective, is the $9.49 billion in cash the company has on its balance sheet. This is significantly higher than the $5.84 billion it has in total debt.
CRM's price-earnings ratio of 57.28 is typically interpreted as high, but traders will have a hard time finding big tech companies at a much lower figure in today’s market. Overall, for a company growing as quickly as Salesforce has been growing, CRM's price-earnings ratio should not be an issue for much longer. Investors may be well served to keep an eye out for any major dips in Salesforce stock price as a potential entry point.
Read Full Story »»»
![](http://studentaid.gov/universal-navigation/assets/us_flag_small.png)
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent CRM News
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/22/2024 08:27:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/21/2024 10:13:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/14/2024 10:07:56 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 08/14/2024 08:14:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/12/2024 11:25:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/07/2024 09:00:15 PM
- Salesforce Announces Timing of Its Second Quarter Fiscal 2025 Results Conference Call • Business Wire • 08/07/2024 08:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/31/2024 08:53:56 PM
- Box and Slack Expand Partnership with the Launch of Box AI in Slack • Business Wire • 07/31/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/26/2024 08:44:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/25/2024 08:37:20 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/25/2024 08:02:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/25/2024 12:25:55 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/24/2024 08:31:23 PM
- Salesforce and Workday Form Strategic Partnership, Unveil New AI Employee Service Agent • Business Wire • 07/24/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/23/2024 11:46:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/23/2024 11:43:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/23/2024 11:40:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/23/2024 11:37:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/23/2024 11:34:51 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/23/2024 11:31:23 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/23/2024 08:53:32 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/22/2024 08:22:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/17/2024 08:48:18 PM
- Match Group Soars 8% Amid Potential Sale Pressure; Deutsche Bank Anticipates 2Q Loss, and More • IH Market News • 07/16/2024 10:10:09 AM
Maybacks Adds Award Winning Show to Its Lineup Discusses Maybacks Opportunity • AHRO • Aug 22, 2024 11:30 AM
North Bay Resources Announces First Gold Concentrate at Mt. Vernon Gold Mine, Assays 12 oz/ton Gold, 17.5 oz/ton Platinum, and 8 oz./ton Silver, Sierra County, California • NBRI • Aug 22, 2024 10:28 AM
All Things Mobile Analytic, Inc. Reports Major Growth with Over $11 Million in Revenue • ATMH • Aug 22, 2024 7:19 AM
Unitronix Announces Strategic Entry into Cryptocurrency Space • UTRX • Aug 21, 2024 10:00 AM
Mawson Finland Provides Update on Exploration Activities at Rajapalot • MFL • Aug 21, 2024 9:06 AM
Avant Technologies to Implement Robust Cybersecurity Measures for AI-Driven Healthcare Solutions • AVAI • Aug 21, 2024 8:00 AM