The demand for next-generation collaboration and productivity tools has increased over the past year, especially amidst the coronavirus pandemic. Salesforce, the industry-leading cloud-based customer relation solution, is paving the way for companies to transform operations digitally. With CRM stocks being on sale right now, investors are curious to know if Salesforce CRM is a buy, hold, or sell right now? Let us see.
A Market-Beating Stock — But For How Much Longer?
The cloud services giant is firing on all cylinders, making Salesforce CRM a good buy for the future.
Salesforce offers enterprise cloud computing solutions focused on customer relationship management (CRM). Today, companies aim to automate operations and track key business metrics to support employees working from home.
Salesforce stock was flying high earlier, but the stock traded over 21% off in the last few weeks, providing an opportunity for long-term investors to buy Salesforce shares. Moreover, Salesforce closed the Slack acquisition in July 2021, positioning the company as the juggernaut of workforce communications solutions. With its history of successful integration and growing acquisitions, Salesforce still remains a market-beating stock to buy now.
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The Road Ahead For Salesforce
Salesforce, as a company, is growing at a rapid pace, positing the CRM stock as an investment goldmine.
Salesforce generated almost 15% of its revenue from the data segment, which was recently separated from its platform and other business. All five segments have equally contributed to the double-digit sales growth in the fourth quarter as well as the full year. With its continued earnings, the company has a high growth rate in the coming future, solidifying the long-term investment value of Salesforce stocks.
Its Cohesive Ecosystem of Products
Much of Salesforce's growth is because of its cohesive ecosystem of products. With new features and developments, community ideas, and more, Salesforce has three releases per year. This opens a fantastic opportunity to take advantage of the platform’s free, real-time innovation.
Salesforce has been building industry-specific solutions for the past few years, such as its Financial Services Cloud, Health Cloud, and Public Sector Cloud. In 2022, it acquired Vlocity to focus on several industry-specific clouds, including communities, media, and insurance. The company has also expanded into marketing, e-commerce, and data analytics, thus increasing the number of reasons to invest in Salesforce CRM stock.
The Launch of New Partner Program
Moving ahead, Salesforce also plans to implement the Salesforce Partner Program. This will enable consulting partners to grow a successful business by providing expertise, guidance, and innovative tools to help them solve business challenges. The program has undergone several remarkable changes for 2022.
Is Salesforce Stock A Buy, Sell Or Hold?
Salesforce is unquestionably a market leader in cloud-based digital CRM, positioning it as a top stock to buy now.
Salesforce's growth record is worth mentioning. It posted a record $6.86 billion in top-line revenue in the third quarter of FY2022, up from $5.42 billion, an increase of 27% from the last year. Moreover, Salesforce expects revenue of $26.4 billion in the entire FY2022, which is a 24% jump from the revenue in FY2021. The company expects to bring in $31.7 billion to $31.8 billion in FY2023. These confident metrics indicate that Salesforce is still on track with its growth and is expected to have significant highs in the future. This definitely makes Salesforce a stock worth buying now for profitable returns.
Salesforce results have been favorable to earnings consensus estimates for the past three years. Forty-one out of 45 analysts on Yahoo Finance rate Salesforce stock (CRM) a “buy” or “strong buy,” while three have recommended to hold. Overall the stock appears to be a good buy right now.
Don't Miss: Salesforce (CRM) Stock Price Prediction
A Company Under Close Watch — Now and Always
Salesforce is continuously working towards transforming its business to suit the needs of the new digital world, making investors constantly mull about whether to buy, hold, or sell Salesforce stocks right now. One of the prime indicators of the success is of a company is its product quality. Gartner, the research company that analyzes data and ranks technology companies as niche players, visionaries, leaders, and challengers, ranks Salesforce as a leader of product quality in at least seven categories. This makes Salesforce stock one of the best tech stocks to buy now for potential returns in the future.
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