#4 - Salesforce (NYSE:CRM)
Salesforce Inc. (NYSE: CRM) is the leading provider of cloud computing software for customer relationship management (CRM) applications. CRM stock is up approximately 13.5% in 2024 despite a sharp sell-off in May after it missed earnings on the top line. However, the company beat on the top line in its second-quarter earnings report, which puts it on track to generate nearly $41 billion in revenue for its fiscal year.
Similar to NVIDIA, this is a market share story. Salesforce commands approximately one-fourth of the market despite competitors entering it. In 2024, the company launched a suite of AI products, including its Data Cloud and Einstein Copilot, which can unify and protect a company’s data regardless of the large language model (LLM) it uses.
At approximately 39x forward earnings, CRM stock is a little expensive, but if the company delivers strong numbers in its December 2024 earnings report, investors are likely to see analysts continue to bid up the stock price.
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
- $336.19
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 31 Buy Ratings, 8 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $330.86 (1.6% Downside)
