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SalesForce.com Inc.
CRM-N
PARTIAL BUY
Jun 13, 2023
$208.980
Stock price when the opinion was issued
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DON'T BUY
They're pushing AI and introducing a lot of services to customers. Good. He uses CRM software. They are increasing rates to customers by 9%. True, a lot of services are not necessary, so he's cancelled them for next year. Other companies will nip at CRM's heels as they roll out more AI. CRM is highly acquisitive. The high USD is hard on non-American customers.
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CRM is another big tech stocks comeback story, rallying 20% in the past year, but 65% year-to-date after plunging to end 2022. Activist investors have been driving cost cutting to beef up profit margins rather than raise sales growth. The results: Q1 revenues topped estimates, operating margins improved and the company raised the July revenue forecast from $8.49 billion to $8.52 billion. Something is working. Add to this momentum, CRM throwing their hat into the Generative AI ring with Einstein and AI Cloud. The new tech can help enterprise clients craft emails, service briefings, case summaries and work orders. Read 3 Big Tech Stocks Making a Comeback for our full analysis.