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- 3 Stocks To Rise This Summer: Salesforce
3 Stocks To Rise This Summer: Salesforce
This customer relations management (CRM) service company announced a plan of increasing its prices from August. As a result, its shares soared by more than 6.5% during the first two days of the week. Salesforce is going to increase list prices by 9% across Sales Cloud, Service Cloud and Marketing Cloud segments of the business. The last similar price increase action was held as early as seven years ago. Since that time, the company has delivered "22 new releases, thousands of new features — including recent generative AI innovations — and invested more than $20 billion in research and development,” the company said in an announcement to discuss the changes. For example, the cost of professional edition will increase by $5 to $80, enterprise edition will increase by $15 to $165, and unlimited version of edition will now cost $330, up $30. Price changes are probably a sign of growing demand, first of all, which could provide a tailwind for earnings. Again, the company already said several months ago that its operational margin may rise by 25% in the next couple of years to increase its sales numbers by 17% to $31 billion. Updates in the nearest months may be better, for obvious reasons. CRM stock is still trading at nearly 28% discount compared to its peaking price of November 2021, which may be an attractive buying chance for the mid-term as well.
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