Salesforce.com Inc ($CRM) Stock Forecast: Down 7.3% Today

What is Salesforce.com Inc?

Salesforce, Inc. (NYSE: CRM) is a leading cloud-based software company known for its customer relationship management solutions. The stock had a bearish movement today amidst broader market activity.

Why is Salesforce.com Inc going down?

CRM stock is down 7.3% on Aug 2, 2024 13:49

• The stock of Salesforce, Inc. (CRM) experienced a bearish movement possibly due to an ongoing inquiry for securities fraud, creating uncertainty among investors.
• An expanded partnership between Box Inc. and Slack to introduce AI-powered integration might have contributed to the negative sentiment towards Salesforce as it could potentially enhance competition in the cloud-based services sector.
• The launch of automated schedulers for Salesforce by Dancing Numbers could have raised concerns about increased automation leading to potential job displacement or reduced customization needs, impacting CRM's stock performance.
• Overall market sentiment towards growth stocks like NVIDIA, Amazon, and Apple potentially overshadowed CRM's performance today, as investors may have shifted focus towards these more established and undervalued companies for better returns.

CRM Price Chart

CRM Technical Analysis

CRM News

Salesforce, Inc. (NYSE:CRM) Investors are Alerted that the Company is Under Inquiry for Securities Fraud by BFA Law and are Urged to Contact the Firm if You Lost Money

Salesforce, Inc. investors that lost money on their investment are encouraged to contact BFA Law about their rights.

https://www.globenewswire.com/news-release/2024/08/02/2923491/0/en/Salesforce-Inc-NYSE-CRM-Investors-are-Alerted-that-the-Company-is-Under-Inquiry-for-Securities-Fraud-by-BFA-Law-and-are-Urged-to-Contact-the-Firm-if-You-Lost-Money.html

Dancing Numbers launches Automated Schedulers for Salesforce, ADP, Sheets and AppFolio

Dancing Numbers now offers schedulers for automating QuickBooks data sync with Salesforce, AppFolio, Google Sheets, and ADP. LEWES, DELAWARE, UNITED STATES, August 2, 2024 /⁨EINPresswire.com⁩/ -- Dancing Numbers, a QuickBooks process automation …

https://crowdfunding.einnews.com/pr_news/732428479/dancing-numbers-launches-automated-schedulers-for-salesforce-adp-sheets-and-appfolio

Box Inc Expands Partnership with Slack to Introduce AI Powered Integration Amidst Financial Struggles

Box Inc. (NYSE: BOX), a prominent player in the Intelligent Content Cloud domain, has announced an expanded partnership with Slack, the AI-powered work operating system owned by Salesforce (NYSE: CRM). The collaboration aims to enhance enterprise workflows by integrating Box AI capabilities directly into Slack, making it easier for organizations to manage and extract insights from their content. The launch, announced jointly from San Francisco and Redwood City, California, allows joint customers to access unlimited Box AI queries within the Slack platform. This integration enables users to ask crucial questions and gain timely insights from Box files, thus transforming the way enterprises handle and analyze their data. The rationale behind this partnership is to leverage the strengths of both platforms, combining Box''s secure content management capabilities with Slack?s collaborative workspace. The integration is expected to offer enhanced productivity and improved decision-making for businesses through AI-powered content analysis and dynamic query functions.

https://csimarket.com/news/box-inc-expands-partnership-with-slack-to-introduce-ai-powered-integration-amidst-financial-struggles2024-07-31134382

Rimini Street Announces Fiscal Second Quarter 2024 Financial and Operating Results

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today announced results for the fiscal second quarter ended June 30, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240731610119/en/ Jetzt den vollständigen Artikel lesen

https://www.wallstreet-online.de/nachricht/18328021-rimini-street-announces-fiscal-second-quarter-2024-financial-and-operating-results

3 Growth Stocks That Could Make Your Summer Unforgettable

Investors have always looked at growth stocks to make relatively safe and steady returns. This is because these companies, while well-established, seem to be undervalued, providing a great entry price for investors. Over time, as the overall valuation grows, so does the value of the initial investment. Growth stocks like NVIDIA (NASDAQ:NVDA), Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) have given many of their initial investors more than a thousand times their initial investment. While I can’t promise this for any of the companies on this list, I will say that these companies have a great outlook. This, combined with analysts agreeing that they’re going to grow heavily in the upcoming months, makes these safe bets that investors can trust. Strong fundamentals, when combined with the financials these companies have, set them apart and will make them cornerstones of your portfolio if you play your cards right.

https://investorplace.com/2024/07/3-growth-stocks-that-could-make-your-summer-unforgettable/

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Salesforce.com Inc Price History

30.04.2024 - CRM Stock was down 20.9%

• Salesforce (CRM) experienced a significant bearish movement of 20.2% following its first-quarter earnings report, where revenue and billings fell below expectations.
• Analysts predict more short-term pain for Salesforce as charts indicate a potential further decline before finding a bottom.
• The weak earnings forecast and softer bookings in the quarter due to deal cycles, deal compression, and budget scrutiny contributed to the sharp decline in Salesforce shares.
• The company also highlighted pressure in the professional services business and observed volatility in the Licensing segment, adding to investor concerns and driving the bearish market movement.

31.04.2024 - CRM Stock was up 6.8%

• Despite missing revenue estimates and a weak Q2 revenue growth outlook, Salesforce's stock saw a significant sell-off after earnings, creating an attractive entry point for long-term investors.
• The rating downgrade to the single-digit club may have initially impacted CRM's stock negatively, but investors seem to view this as a golden buying opportunity.
• The bearish movement in the Dow Jones Index this week might have added some pressure on CRM's stock, but the overall sentiment towards the company remains positive for those looking at the long-term potential.

30.04.2024 - CRM Stock was down 20.2%

• Salesforce shares plunged 20.2% due to reporting first-quarter earnings below expectations, noting softer bookings, deal cycles, and budget scrutiny.
• The weaker forecast and performance of Salesforce affected the Dow and broader market sentiment, leading to a negative trading day.
• The downward revision of US GDP growth and concerns about client spending on cloud and enterprise products also contributed to the bearish sentiment around Salesforce.
• The market reaction underscores the significance of meeting revenue expectations and managing client relationships in the software industry.

30.04.2024 - CRM Stock was down 19.8%

• Salesforce nosedived 20% due to weaker-than-expected second-quarter profit and revenue forecasts, attributed to soft client spending on its cloud and enterprise business products.
• Investor concerns were exacerbated by a downward revision of US gross domestic product growth for the first quarter and an increase in weekly jobless claims, contributing to the bearish sentiment in the market.
• Analysts expressed confidence in Salesforce's long-term prospects, noting that the recent selloff may have been excessive and highlighting the promising potential of generative artificial intelligence.
• Challenges such as apprehensions regarding high interest rates and competition in the AI sector were cited as factors behind the disappointing forecast and subsequent stock decline, underscoring the hurdles faced by Salesforce in sustaining its growth trajectory.

06.05.2024 - CRM Stock was up 5.1%

• A Salesforce director purchased company shares worth $99.8 million, hinting at positive insider sentiment and potentially boosting investor confidence.
• The announcement of Salesforce establishing an AI center in London as part of a $4 billion investment in the UK over the next five years may have uplifted investor optimism regarding the company's future growth prospects.
• The upbeat developments related to Salesforce's foray into AI innovation and job creation in the UK likely played a role in the stock's bullish movement.

31.04.2024 - CRM Stock was up 5.7%

• Despite a 20% plunge after Q1 earnings and a weak Q2 revenue growth outlook, Salesforce is now seen as a golden buying opportunity for long-term investors.
• A prominent figure in stock analysis recommended buying Apple Inc (AAPL) heading into June but expressed concern over Salesforce's recent declines, possibly signaling a shift in sentiment towards CRM.
• The market's positive response to the reassessment of Salesforce's potential by investors and analysts seems to be fueling the bullish movement in CRM stock today.
• Salesforce's resilience and long-term growth prospects may be outweighing the short-term challenges highlighted in its recent financial reports, propelling the stock's upward trajectory.

31.04.2024 - CRM Stock was up 7.2%

• Salesforce (CRM) reported better-than-expected earnings for Q1 2025, which usually leads to a bullish sentiment among investors.
• Despite the positive earnings report, there was a selloff post-earnings, which could have initially caused some uncertainty in the market.
• The overall market sentiment might have been positive towards CRM today, possibly due to investors reevaluating the stock after the initial selloff and recognizing its long-term growth potential.
• The bullish movement in CRM could also be attributed to investors shifting focus from the recent Dow Jones fall and seeking opportunities in individual stocks like Salesforce.

30.04.2024 - CRM Stock was down 21.5%

• The company saw a significant 20% decline in its stock price due to a weak earnings forecast.
• Negative sentiment was possibly fueled by an analyst's recommendation to sell the company's stock, branding it as unprofitable.
• Technical analysis suggests that further downward movement may occur before a potential recovery.
• Discussion among industry experts hinted at broader concerns impacting the software sector and subsequently affecting the company's stock performance.

30.04.2024 - CRM Stock was down 20.7%

• Salesforce stock plummeted over 20% after missing revenue expectations for the first quarter and providing a soft outlook for the second quarter. This disappointing performance led to a bearish market sentiment.
• Analysts still maintain a bullish outlook on the stock despite the recent slump, highlighting a potential disconnect between market sentiment and long-term prospects.
• A market expert linked Salesforce's stock slide to NVIDIA's advancements in AI, suggesting that broader industry trends and technological developments may have influenced the market reaction.
• A decision to sell Salesforce stock and label it as "dead money" further contributed to the negative sentiment surrounding the company, potentially influencing other investors to follow suit.

27.05.2024 - CRM Stock was up 5.2%

• Salesforce (CRM) stock experienced a bullish movement today.
• The positive news of Rimini Street India ranking in the Top 20th for India’s Great Mid-Size Workplaces 2024 could have boosted investor confidence in CRM.
• Despite the investigation for securities fraud, the announcement of Odaseva raising $54M to secure Salesforce users may have highlighted the company's commitment to enhancing security measures.
• The insider sale of shares by President and COO Brian Millham might have been overshadowed by the overall positive developments, contributing to the bullish trend in CRM stock.

25.06.2024 - CRM Stock was up 5.3%

• The bullish movement in Salesforce's stock could be attributed to the positive market reception of their new joint AI venture with Workday, as discussed by the CEOs in recent interviews.
• Despite the news of Salesforce CTO selling over $1m in company stock, investors seem to be focusing more on the potential growth opportunities presented by the AI partnership.
• The endorsement of data-driven AI solutions by Salesforce CEO Marc Benioff might have also contributed to investor optimism, as it signals the company's commitment to innovation and future growth.

02.07.2024 - CRM Stock was down 7.3%

• The stock of Salesforce, Inc. (CRM) experienced a bearish movement possibly due to an ongoing inquiry for securities fraud, creating uncertainty among investors.
• An expanded partnership between Box Inc. and Slack to introduce AI-powered integration might have contributed to the negative sentiment towards Salesforce as it could potentially enhance competition in the cloud-based services sector.
• The launch of automated schedulers for Salesforce by Dancing Numbers could have raised concerns about increased automation leading to potential job displacement or reduced customization needs, impacting CRM's stock performance.
• Overall market sentiment towards growth stocks like NVIDIA, Amazon, and Apple potentially overshadowed CRM's performance today, as investors may have shifted focus towards these more established and undervalued companies for better returns.