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Morningstar’s Analysis

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Good Quarter With a Guidance Raise Underscore’s Strong Position; FVE up to $265

Dan Romanoff, CPA Equity Analyst

Analyst Note

| Dan Romanoff, CPA |

Wide-moat Salesforce reported solid fiscal fourth-quarter results, including upside to both revenue and non-GAAP EPS expectations. The company’s first-quarter revenue guidance was solid and we’re pleased to see the firm raise its full-year revenue target. We think Salesforce’s results are generally consistent with software peers who are experiencing robust demand arising from the need to accelerate the broad digital transformation efforts that were already underway. Deal sizes continue to grow larger as conversations are increasingly about digital transformation of a customer’s entire organization rather than just a specific area. Customers remain focused on the post-pandemic operating environment and want flexibility, which reinforces the rationale for the Slack acquisition.

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Company Profile

Business Description provides enterprise cloud computing solutions, including Sales Cloud, the company’s main customer relationship management software-as-a-service product. 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
Sector Technology
Industry Software - Application
Most Recent Earnings Jan 31, 2021
Fiscal Year End Jan 31, 2021
Stock Type Aggressive Growth
Employees 56,606