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Tuesday, May 30, 2023

Would salesforce.com Inc. (CRM) be a good investment opportunity?

Salesforce.com (CRM) has recently reported sales growth above 20% for the fourth quarter and full year. Moreover, the company is inclined to remain confident about future growth.

Revenues for the overall customer experience platform and customer relationship management platform grew 20% to $5.82 billion in the fourth quarter, beating analysts’ and Wall Street’s expectations. Salesforce generated $21.3 billion in total revenue for the full year, an increase of 25%. With acquisitions included in this amount, free cash flow came to $2.81 billion.

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During the current fiscal year, Salesforce.com (CRM) also anticipates continuous double-digit growth. Revenues are estimated to be above $ 25 billion for the company’s initial forecast, which increases 21% over the current year. Those revenue streams also include income from integrating Slack’s remote platform solutions. The integration of Slack with Salesforce’s existing revenue is less than 3% of Salesforce’s total revenue. However, Salesforce has successfully integrated acquisitions and helped to increase sales of new products.

Sales can be boosted using Salesforce.com (CRM) with Slack. Some investors were not convinced that the acquisition of Slack made a good investment. It is especially relevant, however, given the widespread practice of working from home. To succeed against rival Microsoft, Salesforce wants to become the leading collaboration software provider for teleworkers, mobile workers, and distributed teams. Getting access to Slack solutions is one step towards realizing a long-term plan since perfect telecommuting systems will become increasingly valuable in the future.

salesforce.com inc. is currently trading at $237.42, down -23.90% from its 52-week high, compared to an 87.79% distance from its 52-week low. The closing price is $228.37, with the 50-day moving average of $228.37 and its 200-day moving average of $221.81. The stock volatility over the past week stands at 4.31%, declining to 2.42% over the past month. Besides, we also need to look at other price movement indicators for the stock, such as the relative strength index (RSI), which suggests the stock is in neutral territory, at 33.36.

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