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Should You Buy #1 (Strong Buy)-Ranked Salesforce.com (CRM) for Your Portfolio?
Salesforce.com was upgraded to the Zacks Rank #1 list on March 21, 2023. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Headquartered in San Francisco, Salesforce, Inc., founded in 1999, is the leading provider of on-demand Customer Relationship Management (CRM) software, which enables organizations to better manage critical operations, such as sales force automation, customer service and support, marketing automation, document management, analytics and custom application development.
For fiscal 2024, 19 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.25 to $7.11 per share. CRM boasts an average earnings surprise of 15.6%.
Earnings are forecasted to see growth of 35.7% for the current fiscal year, and sales are expected to increase 10.4%.
Even more impressive, CRM has gained in value over the past four weeks, up 6.7% compared to the S&P 500's gain of 6.2%.
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Salesforce.com could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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