Wall Street Analyst Bullish on Salesforce, Cites Surging Relevance

Brian White is a prominent Wall Street analyst who is bullish with Salesforce, Incorporated. The Monness insider optimistically hypothesized that the San Francisco, California-headquartered cloud-based software company’s unique platform is poised to capture much of the digital transformation trend.

White also described Salesforce as a company that is more relevant today than ever. We find this US stock market update important for our readers to know.

It is about Salesforce, which Wall Street analysts believe will carry on growing. We believe our readers can learn more about this Fortune 500 Company and how they can benefit by being among its investors.

According to the report posted online by CNBC, which delivers real-time financial market coverage and business updates, White reiterated a buy rating on Salesforce, declaring a price target of US$300.

With Salesforce being among the stocks viewed as poised for upside, the five-star analyst believes this company offering customer relationship management service will capitalize on the huge shift toward digitization.

Salesforce offers a complementary suite of business applications, concentrating on application development, customer service, analytics, and marketing automation. Wall Street analysts believe this computer software business organization is highly relevant during this time of accelerated digital transformation, which is a glaring trend emerging from the coronavirus or COVID-19 pandemic.

Work-from-home mandates pushed all sizes of businesses to utilize cloud-based solutions and transfer their operations online. This digitization of the workplace seen as the new normal makes Salesforce important, even with workers viewed to return to their offices.

The computer software firm, whose chief executive officer since November 2001 is Marc Benioff, finalized its high-profile purchase of Slack, a business coordination company, last July. It will soon conduct its yearly conference called Dreamforce.

White anticipates Slack to take up the majority of the investors’ attention. He also expects even more innovations that Salesforce will unveil at Dreamforce, besides the entire suite of Slack-related integrations proclaimed last month.

White is specifically confident on this development, saying that his group believes Salesforce’s new addition provides the potential to develop the company platform’s value considerably. The top Wall Street analyst also remarked that the Slack agreement offers Benioff’s company incremental financial flexibility over the next 12 to 18 months.

We agree with Mr. White regarding his description of Salesforce as among the companies he thinks have advantages in the market, following his careful evaluation of this software company’s outlooks and fundamentals. We also concur that the world is moving towards workplace digitalization and away from manual and conventional ways of doing things at the office and in other settings.

Therefore, we think Salesforce and its stock hold a lot of promise for investors. This software company, which Fortune magazine ranked second on its list of “100 Best Companies to Work For,” this 2021, per an employee survey of satisfaction, is relevant today and the future.

We also feel bullish for Salesforce as the corporate trend changes to cloud computing. We think this software firm will increase in significance as the Internet and virtual ways of doing things will most likely take preponderance in the long run.

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