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Salesforce Inc - Stock Quote CRM

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Morningstar's Salesforce Inc Stock Analysis

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Is it the right time to buy or sell?

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Salesforce Delivers Solid Results to Battered Investors; Sees Strong Demand; Modest FVE Cut to $305

Dan Romanoff, CPA Senior Equity Analyst

Analyst Note

| Dan Romanoff, CPA |

Investors looking for signs of broader enterprise software slowdowns will have to look elsewhere after wide-moat Salesforce reported solid results in the face of a variety of macroeconomic headwinds. Both revenue and non-GAAP operating margin a bit better than our expectations, while full-year revenue guidance was lowered slightly entirely due to the surging dollar, and full-year non-GAAP operating margin guidance was raised modestly. Management acknowledged the same macro headline issues we see every day but noted the firm is seeing no weakness in demand and that its pipeline for the year remains robust. Given the macro storm clouds, we are taking our estimates from above previous guidance, to more in-line with new guidance, and are therefore lowering our fair value estimate to $305 per share, from $320 per share. Salesforce remains one of our top software picks and we view shares as attractive, as we think investors are overly pessimistic on near-term fears.

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Salesforce Inc's Company Profile

Business Description

Salesforce Inc provides enterprise cloud computing solutions. The company offers customer relationship management ("CRM") 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
Sector Technology
Industry Software - Application
Most Recent Earnings Apr 30, 2022
Fiscal Year End Jan 31, 2023
Stock Type Aggressive Growth
Employees 73,541

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