Salesforce Inc
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Information Technology : Software | Large Cap Growth
Company profile

Salesforce, Inc., formerly, Inc., is a provider of customer relationship management (CRM) platform. Its Customer 360 platform delivers a source, which connects customer data across systems, applications and devices to help companies sell, service, market and conduct commerce from anywhere. It focuses on cloud, mobile, social, analytics and artificial intelligence, which connect to its customers and enable companies to transform their businesses. It also enables third parties to use its platform and developer tools to create additional functionality and applications that run on its platform. Its customers use its sales offering to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence and deliver quotes, contracts and invoices. Its service offering helps to connect its service agents with customers across any touchpoint. It helps customers to resolve routine issues with predictions and recommendations.

Closing Price
Day's Change
1.11 (0.73%)
B/A Size
Day's High
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Salesforce stock bounces off 2 1/2-year low as 2023 guidance was affirmed after 2 previous cuts

1:10 pm ET September 22, 2022 (MarketWatch)

Shares of Salesforce Inc. rallied 1.6% in afternoon trading Thursday, to bounce off the previous session's 2 1/2-year closing low, as investors cheered what the customer relationship management software company didn't say at its investor day as much as what it did say. The stock's rally comes amid weakness in the broader stock market, with the Dow Jones Industrial Average falling 82 points, or 0.3%, and the S&P 500 shedding 0.7%. At Wednesday's investor day, Salesforce reiterated the fiscal 2023 revenue outlook of about $31 billion, after the company cut the outlook in May to $31.7 billion to $31.8 billion from $32.0 billion to $32.1 billion in March, and lowered it again in August to $30.9 billion to $31.0 billion. J.P. Morgan analyst Mark Murphy reiterated his overweight rating on Salesforce and his $245 stock price target, citing the affirmed 2023 guidance, and the fact that the company affirmed the 2026 sales glidepath of $50 billion. Salesforce's stock. which closed Wednesday at the lowest price since April 2020, has plunged 41.0% year to date, while the Dow has lost 17.2%.

-Tomi Kilgore


(END) Dow Jones Newswires

September 22, 2022 13:10 ET (17:10 GMT)

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