Hot Tech Stocks to Buy: Salesforce.com (CRM)
Salesforce.com, Inc. (NYSE:CRM) — a cloud giant which specializes in customer relationship management — is growing at a very impressive rate. In fact, CRM has a mean quarter-on-quarter gain of close to 28% since 2014 and recently raised its full-year guidance to revenue of up to $10.3 billion. This translates into full-year growth of 23% — and this could go even higher before the year’s end.
The company’s solid fundamentals are reflected by the Street. In the last three months, CRM has received 17 buy ratings from top analysts and only 1 hold rating. The average analyst price target of $100.50 also suggests 13.6% upside potential from the current share price. Note that, on July 31, top-25 analyst RBC Capital’s Ross MacMillan reiterated his buy rating with a $102 price target.
CRM has been making waves with the launch of its new artificial intelligence analytics platform dubbed Einstein. CEO Marc Benioff says: “AI is the next platform — all future applications, all future capabilities for all companies will be built on AI.” Benioff even says he uses Einstein himself to pinpoint data bias and identify underperforming execs.