rtmark
LearnBonds.com

Salesforce stock has jumped more than 15% in three weeks – It is still a buy?

Salesforce (NYSE: CRM) stock price rose sharply after bottoming below $125 level last month as market analysts believe it is among the best ideas during the period of global uncertainty caused by the coronavirus pandemic. Although the stock, of the US cloud-based software firm,  has risen more than 15% in the last three weeks, its valuations, revenue growth rate, and increasing market share in software space still make it a good stock to buy say some analysts.

Cowen analyst J. Derrick Wood says Salesforce is a strong defensive play during economic uncertainty due to its growth potential. The firm has provided a price target of $220, implying significant upside from the current stock trading price of $153.

Salesforce

TConsensus estimates show that Salesforce, led by chief executive MarcBenioff, could report a 25% decline in first-quarter earnings from the past year period. However, its revenue is likely to increase by 29% year over year. Its full-year forecast also indicates 21% revenue growth and a 4% increase in earnings per share. Meanwhile, the company’s guidance indicates full-year revenue in the range of $4.8bn, up 30% from last year.

The company’s financial forecasts bode well for stock trading performance. Canaccord Genuity analyst Richard Davis said: “Salesforce rarely drops out of our top 5 best pick slots for the simple reason the company continues to execute well, and the valuation is attractive.” Salesforce stock is trading around 7 times to sales and 4 times to book ratio.

Salesforce

Salesforce develops enterprise cloud computing solutions with a focus on customer relationship management worldwide.

It plans to reach a long-term revenue target of $34bn to $35bn by 2024; Salesforce is also seeking to convert substantial revenue growth into big profits and strong cash flow. Its operating cash flow stood around $4.33bn in fiscal 2019.

If you plan to trade software stocks, you can check out our featured brokers here.

Trusted & Regulated Stock & CFD Brokers

What we like

  • 0% Fees on Stocks
  • 5000+ Stocks, ETFs and other Markets
  • Accepts Paypal Deposits

Min Deposit

$200

Charge per Trade

Zero Commission

Rating

64 traders signed up today

Visit Now

75% of investors lose money when trading CFDs.

Available Assets

  • Total Number of Stocks & Shares5000+
  • US Stocks
  • German Stocks
  • UK Stocks
  • European
  • ETF Stocks
  • IPO
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 Zero Commission
  • NASDAQ Zero Commission
  • DAX Zero Commission
  • Facebook Zero Commission
  • Alphabet Zero Commission
  • Tesla Zero Commission
  • Apple Zero Commission
  • Microsoft Zero Commission

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
  • Paypall
  • Skrill
  • Neteller

What we like

  • Sign up today and get $5 free
  • Fractals Available
  • Paypal Available

Min Deposit

$0

Charge per Trade

$1 to $9 PCM

Rating

Visit Now

Investing in financial markets carries risk, you have the potential to lose your total investment.

Available Assets

  • Total Number of Shares999
  • US Stocks
  • German Stocks
  • UK Stocks
  • European Stocks
  • EFTs
  • IPOs
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 $1 - $9 per month
  • NASDAQ $1 - $9 per month
  • DAX $1 - $9 per month
  • Facebook $1 - $9 per month
  • Alphabet $1 - $9 per month
  • Telsa $1 - $9 per month
  • Apple $1 - $9 per month
  • Microsoft $1 - $9 per month

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Avatar

Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.