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Salesforce (NYSE: CRM) Stock Overview – All You Need to Know About Salesforce Inc

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Salesforce (NYSE: CRM) Stock Overview – All You Need to Know About Salesforce Inc

Salesforce (NYSE: CRM) Stock Overview – All You Need to Know About Salesforce Inc

Vantage Updated Updated Fri, 2024 January 26 01:13

Salesforce (NYSE: CRM) is a leading customer relationship management (CRM) company established in March 1999 by Marc Benioff, Parker Harris, Dave Moellenhoff, and Frank Dominguez. Salesforce has its headquarters in San Francisco, California.

It offers cloud services that combine artificial intelligence, customer data, and its CRM to streamline sales, marketing, and commerce for over 150,000 customers globally. Salesforce targets companies that want to simplify client interactions [1].

The most notable Salesforce competitors are; Oracle, Microsoft Corporation, Hubspot Inc., and SAP SE. 

The Salesforce CRM, its flagship service, is part of a toolset it offers users to automate the key business functions above. Moreover, they also offer tools that enhance your analytics, eCommerce, and  IT services.

Salesforce is a successful enterprise with a market capitalisation of over US$ 208.56 billion, and it owes its success to the rapid growth of internet access and e-commerce in the business environment. Besides that, the founders’ experience in the global technology industry has played a critical role.

For instance, while working at Oracle, Marc Benioff had prior experience in cloud-based related platforms. Parker Harris also had profound software development experience [2]

Milestones

Salesforce has always focused on innovation, customer success, and social responsibility, making it one of the world’s most successful and influential technology companies [3].

Here are some of the key defining moments in the lifespan of Salesforce’s existence:

  • 2000: Salesforce releases its first CRM software product based on a cloud-based platform.
  • 2005: Salesforce introduces AppExchange, a marketplace for third-party applications that easily integrate with CRM to boost performance.
  • 2008: Salesforce launches Force.com, a platform-as-a-service. Force.com lets developers create and distribute cloud-based applications.
  • 2010: Salesforce introduces Chatter, a social networking platform for businesses that integrates with Salesforce CRM.
  • 2013: Salesforce acquires ExactTarget for about $2.5 billion [4]. ExactTarget focuses on email marketing.
  • 2015: Salesforce introduces a platform for sales intelligence, SalesforceIQ. SalesforceIQ uses machine learning and artificial intelligence (AI) to improve the efficiency of sales teams.
  • 2016: Salesforce acquires Demandware for close to $3 billion [5]. Demandware is a provider of e-commerce software.
  • 2018: Salesforce acquires MuleSoft, an integration software provider, for $6.5 billion [6].
  • 2019: Salesforce introduces a suite of AI-powered analytics tools, Einstein Analytics.
  • 2021: Salesforce acquires Slack, a messaging and collaboration software provider, for $27.7 billion.
  • 2022: Salesforce announces the launch of its Digital 360 platform, which provides a suite of tools and services for digital marketing, commerce, and customer experience management.

Stock History

Salesforce first went public on June 23, 2004, on the New York Stock Exchange floor with the ticker “CRM.” Although initially priced at $7.50 and $8.50, its entry price was set at $11, and Salesforce attracted an investor contribution of about $110 million [7].

Salesforce’s current market capitalisation is US$ 208.56 billion and is expanding steadily. At the time of this writing, its stock price is $229.33 per share as of 14 July 2023 [8].

Stock Splits

Salesforce has had a single stock split since going public. The 4-for-1 stock split occurred on April 18, 2013, in a successful attempt to make the company’s share price attractive and affordable to a wide range of new investors and increase its outstanding shares [9]. The 4:1 stock split almost quadrupled its stock value on the NYSE. Most initial investors could now buy more shares at a quarter of the price. 

Price Surge

Since going public in 2004, Salesforce (NYSE: CRM) saw a gradual increase in its stock price from under $11 per share after its IPO to about $15.6 per share by 2007 [10].

However, the defining moment in Salesforce’s history was when many companies adopted new solutions to avert the 2008-2009 global financial crisis. Many companies cut down hiring, laid off some workers, and adopted CRM software during that period. 

This CRM adoption trend grew the company’s revenue and expanded its customer base, increasing its share price. Salesforce over-delivered customer expectations and reported excellent financial results, keeping it on top of the competitive CRM software market.

Salesforce recorded a stock closing price of over $309.96 on November 08, 2021, its highest ever to date [11].

Dividends Payout

Salesforce does not currently pay dividends to its shareholders. Instead, like most tech companies, Salesforce reinvests company profits into its investments for higher returns and market cap growth. 

Profits are ploughed back into innovation, research and development, acquisitions, and product offerings. 

Stock Trading Information

  • Primary exchange: NYSE
  • Ticker: CRM
  • Country: U.S.
  • Currency: USD
  • Trading hours:
    • Main: 9.30am to 4pm ET, Mon to Fri
    • Pre-market: 4am to 9.30am
    • After-market: 4pm to 8pm
  • Dividends: Salesforce does not currently pay dividends to its shareholders.

salesforce stock

Why trade Salesforce?

Dong some research into Salesforce stock? Here are some reasons you may consider trading it:

Industry Leader 

Salesforce has made a name for itself, being a top-tier company in the fast-growing cloud-computing industry. Its customers enjoy a suite of products that help businesses manage customer relationships and track sales, marketing, and other operations.

Its market dominance is a great incentive to trade Salesforce.

Strong Financial Performance

Salesforce has a track record of delivering solid financial results with consistent revenue growth and profitability. Salesforce’s continuous innovation and profit reinvestment in new products are crucial reasons behind its outstanding results.

Potential for Growth

Through the years, Salesforce’s unwavering value and performance through unending research and development, innovation, and reinvesting profits. Salesforce is spreading its interests to new areas, making the company attractive to investors who want to trade such a stock long-term.

Socially Responsible Company 

Salesforce is recognised as a socially responsible company that prioritises diversity, inclusion, and equity initiatives. They have implemented various programs and practices to foster a diverse and inclusive workplace. Additionally, Salesforce is committed to promoting sustainability and has incorporated Environmental, Social, and Governance (ESG) reporting as part of their activities.

What can affect the prices of Salesforce stock?

Here are some key factors that can move the price of Salesforce shares in the markets:

Earning reports

Salesforce provides quarterly and annual earnings reports that offer insights into the company’s financial performance. Like any other publicly traded company, Salesforce reports its financial and economic progress, which can cause stock price changes.

Market trends 

As a company in the technology industry, Salesforce is affected by broader market trends and developments. For example, a hike in demand for cloud-computing services by customers can immensely increase the company’s share price.

New product launches

Salesforce regularly introduces new products and services, and these launches can impact the company’s revenue and earnings potential. Depending on how customers receive the latest products, stock prices will change to reflect the rise or fall in the share price.

Mergers and acquisitions

When Salesforce merges or acquires other companies, that may affect its stock price.

Weak or less-promising partnerships can hurt the company’s price, while solid mergers and acquisitions propel the share price upwards.

Economic factors

Economic factors such as increases in interest rates, inflation, and the overall market sentiment can also impact the prices of Salesforce’s stock. For example, recessions tend to make investors risk-averse, and customers’ purchasing power drops. Such sentiments can lead to a decline in Salesforce’s stock price.

Competitor performance 

Competitor performance can also impact Salesforce’s stock price, especially if a competitor releases a new product or service that is well-received by the market. 

Start trading Salesforce Stock commission-free with Vantage

Looking to trade CRM shares via Contracts for Difference (CFDs)? Vantage Markets is the place to go—access CRM and over 500 other U.S.-listed company stock CFDs through Vantage and trade commission free. You can use expert advisors or trade your own long or short strategy on Amazon and other blue-chip stocks for $0 per trade.

References

  1. “Our Story – Salesforce” https://www.salesforce.com/company/our-story/ Accessed 14 July 2023
  2. “The History of Salesforce – Salesforce” https://www.salesforce.com/news/stories/the-history-of-salesforce/ Accessed 14 July 2023
  3. “The History of Salesforce – Salesforce” https://www.salesforce.com/news/stories/the-history-of-salesforce/ Accessed 14 July 2023
  4. “Salesforce.com Lands Deal for Online-Marketing Race – The Wall Street Journal” https://www.wsj.com/articles/SB10001424127887324563004578524951552313768 Accessed 14 July 2023
  5. “Salesforce to Buy Demandware for $2.8 Billion – The Wall Street Journal” https://www.wsj.com/articles/salesforce-to-buy-e-commerce-platform-demandware-for-2-8-billion-1464781833 Accessed 14 July 2023
  6. “Salesforce Signs Definitive Agreement to Acquire MuleSoft – MuleSoft” https://www.mulesoft.com/press-center/salesforce-acquisition Accessed 14 July 2023
  7. “Salesforce – 19 Year Stock Price History – Macrotrends” https://www.macrotrends.net/stocks/charts/CRM/salesforce/stock-price-history Accessed 14 July 2023
  8. “Salesforce, Inc. (CRM) Historial Data – Yahoo! Finance” https://finance.yahoo.com/quote/CRM/history?p=CRM Accessed 14 July 2023
  9. “FAQ Stock Splits – Salesforce” https://investor.salesforce.com/about/faq-stock-splits/default.aspx Accessed 14 July 2023
  10. “Salesforce – 19 Year Stock Price History – Macrotrends” https://www.macrotrends.net/stocks/charts/CRM/salesforce/stock-price-history Accessed 14 July 2023
  11. “Salesforce – 19 Year Stock Price History – Macrotrends” https://www.macrotrends.net/stocks/charts/CRM/salesforce/stock-price-history Accessed 14 July 2023
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