Stock markets have been shining over the past four months, driven by trader’s confidence in the global economic outlook. The S&P 500 has hit new all-time high following a rally of 18% since the start of this year while Nasdaq is also trading at a record level. The stock market value has added more than $5 trillion during the latest bullish trend.
Despite the huge rally, the market is still presenting profit-making opportunities in 2019 and beyond. Salesforce.com (NYSE: CRM) is among those stocks that have significant upside potential ahead. This is because the software company is likely to generate record financial numbers and market share growth this year – which would back its share price momentum.
The company is looking to double its revenue growth in the coming four years after surpassing $13 billion in revenue in fiscal 2018, faster than any other enterprise software company in history.
Its share price jumped 149% in the past five years on the back of substantial revenue growth.
Salesforce is a Customer Resource Management company and one of the most trusted enterprise software vendors all over the world. The future fundamentals of this company are strong as more and more companies are investing in their digital transformations. Salesforce holds 20% of the total CRM market, which is more than the combined market share of its three competitors according to Edge IDC.
Twitter Inc (NYSE: TWTR) shares are up 40% since the start of this, thanks to improving financial numbers and a broader market rally. The social media company has topped revenue and earnings expectations for the fourth quarter of FY2018; the fiscal 2018 results also came in line with expectations.
The company generated record revenue of $909 million in the fourth quarter, up 24% from the same period last year. Its full-year revenue also exceeded the $3 billion mark.
Market pundits are hopeful that Twitter’s strategy of improving their platform would help in attracting new users and advertisers in the coming quarters. J.P Morgan has raised TWTR share price target to $45, saying Twitter is one of the top picks for 2019.