#4 - Salesforce (NYSE:CRM)
Salesforce (NYSE: CRM) - Another good indicator of a strong growth stock is how quickly it recovers compared to the broader market. While the S&P 500 is still finding resistance as it tries to push past its peak, Salesforce has recently passed a technical level of resistance at $150 and is now poised to continue its forward movement. In addition to having a good technical outlook, the stock benefits from the company’s leadership position in the consumer relationship management (CRM) software industry. A good deal of credit for this leadership position stems from the company’s commitment to constant innovation – which is expected, and rewarded, by its key demographic – the millennial customer and salesperson who are changing the traditional sales model. As part of the broader technology sector, Salesforce shows a higher volatility than other stocks and carries a beta of 1.4 which means it is likely to have highs and lows that are larger than the broader market. Nevertheless, if you can handle the occasional dip, this seems like a strong stock to buy and hold.
About Salesforce
Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.
Read More - Current Price
- $342.02
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 31 Buy Ratings, 8 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $336.37 (1.7% Downside)
