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Salesforce Inc CRM Stock Quote

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Morningstar‘s Stock Analysis CRM

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Genie Out of the Bottle; Salesforce Throws a Margin Gauntlet Down; FVE Steady at $240

Dan Romanoff, CPA Senior Equity Analyst

Analyst Note

| Dan Romanoff, CPA |

The biggest investor news from wide-moat Salesforce’s investor day was the reiteration of full-year guidance of $31 billion at the high end for fiscal 2023; the reiteration of $50 billion in revenue for fiscal 2026—despite a $2 billion headwind from foreign exchange over the last year; and the new long-term guidepost for 25% or higher non-GAAP operating margin for fiscal 2026. Along with several other product announcements, the company also introduced Genie, a new customer data platform to infuse real-time data across clouds. Lastly, Salesforce also provided an updated capital allocation strategy, a current total addressable market, or TAM, analysis, and incremental disclosures around contract length, cloud uptake, cohort analysis, and retention. We continue to view the stock as one of our top picks, maintain our fair value estimate of $240 per share, and see shares as attractive.

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Company Profile CRM

Business Description

Salesforce Inc provides enterprise cloud computing solutions. The company offers customer relationship management technology that brings companies and customers together. Its Customer 360 platform helps the group to deliver a single source of truth, connecting customer data across systems, apps, and devices to help companies sell, service, market, and conduct commerce. It also offers Service Cloud for customer support, Marketing Cloud for digital marketing campaigns, Commerce Cloud as an e-commerce engine, the Salesforce Platform, which allows enterprises to build applications, and other solutions, such as MuleSoft for data integration.

415 Mission Street, 3rd Floor, Salesforce Tower
San Francisco, CA, 94105
T +1 415 901-7000
Industry Software - Application
Most Recent Earnings Jul 31, 2022
Fiscal Year End Jan 31, 2023
Employees 73,541

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