Salesforce, Inc. (CRM) Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
Salesforce, Inc. (CRM) is a leading technology firm headquartered in San Francisco, California, that specializes in Customer Relationship Management (CRM) software. Established in 1999, Salesforce offers a versatile suite of services encompassing sales management, customer support, marketing automation, and advanced analytics, leveraging platforms like Slack and Tableau. As a significant entity in the software application industry, Salesforce empowers businesses of all sizes to enhance productivity and customer engagement across diverse channels, reinforcing its stronghold in the technology sector.
Investment Potential
Current analyses indicate a strong bullish outlook for Salesforce within the Software – Application industry, part of the broader technology sector. With a stock price currently at $266.80, the market demonstrates optimism for considerable appreciation, with a target high price set at $390.00. Analysts have assigned a mean target price of $306.87, showcasing a favorable sentiment towards the stock’s performance. The company’s robust total revenue, reported at $36.47 billion, underscores its substantial market position, making it an attractive investment opportunity. The recommendation to “buy,” supported by a mean analyst score of 2.0 (on a 1 to 5 scale), reflects confidence in the company’s growth trajectory.
Market Sentiment & Price Movements
Salesforce has 956 million shares outstanding, with approximately 11.97 million shares shorted, representing about 1.29% of the float of roughly 929.17 million shares. This low short interest suggests that investor sentiment remains generally positive, as fewer investors are betting against the stock. The stock’s fifty-day moving average stands at 254.17, indicating a short-term bullish trend. Over the past year, the stock has experienced volatility, peaking at $318.71 and reaching a low of $193.68. This fluctuation presents a potential rebound opportunity as the stock currently trades above its fifty-day average. Overall, Salesforce’s solid revenue growth, positive analyst recommendations, and technical indicators position it well for future performance.
| Metric | Value |
|---|---|
| Market Cap | $255.1b |
| Total Debt | $12.2b |
| Total Cash | $12.6b |
| Shares Outstanding | 956.0m |
| Float Shares | 929.2m |
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