CRMS stock is a great way to invest in the booming technology industry. It is one of the most popular stocks on the market today. With its strong EPS forecasts for the next five years, CRMS stock is an excellent choice for investors.
EPS forecasts for 2023
EPS forecasts for CRM stock in 2023 should be considered alongside the company’s long-term growth prospects. The company is expected to double its annual revenue to $50 billion by fiscal 2026. However, if macro headwinds lead to a full-blown recession, revenue could slow down.
During the last quarter, the company surpassed street expectations by over $10 million. It also beat the EPS estimates by more than a tenth of a point. The company’s upcoming fiscal Q3 2023 report is scheduled for November 30. The company’s impressive yearly record is topped by the Slack acquisition, which has a $4 billion contribution to the top line.
It is not uncommon for companies to track their key metrics to benchmark themselves against the competition. This may include the best e-commerce site to shop on, the most innovative cloud computing platform to work with, or the cheapest and most reliable CRM software. A company’s EPS may be a helpful indicator of whether it intends to increase its dividend. When shopping for a new CRM stock, it is essential to know if the company is a lagging or leading performer.
In the last few months, 15 analysts have stepped up their yearly forecasts. Using a weighted average, the average EPS estimate is $26.
Top Salesforce shareholders
Among the top Salesforce, shareholders are Marc Benioff, the company’s co-founder and CEO, and several executive members of the company’s board of directors. Moreover, Fidelity Management & Research holds a significant stake in the company on behalf of mutual funds.
Other key Salesforce shareholders include Vanguard Group and State Street. These firms are asset management companies. They own the company’s stock on behalf of customers. Moreover, Fidelity acts as a custodian for the CRM stock.
Salesforce stock is listed on the New York Stock Exchange under the “CRM.” It is among the most valuable cloud-based software companies in the world. It offers customer relationship management, marketing automation, digital marketing, and enterprise cloud computing solutions.
Salesforce recently reported Q3 earnings that surpassed analyst expectations. The company also announced that it would buy data analytics firm Tableau for $15.7 billion. The company expects synergy between its artificial intelligence tools and Tableau’s business intelligence software. In addition, it planned to rebrand Einstein as Tableau CRM in 2021.
In 2016, Salesforce spent $4.6 billion on acquisitions. The company acquired Exact Target, Demandware, and MuleSoft. It also signed a partnership with Alibaba Group. The company has a long-term goal of doubling its revenue to $50 billion by 2026. In addition, it will focus on boosting margins by hiring fewer people.
