3 Growing Stocks That Can Make You Rich In March - Salesforce

3-Salesforce

One last growing stock that long-term investors can safely buy in March is cloud-based customer relationship management (CRM) giant salesforce.com (NYSE: CRM). CRM software is a product of value for any business that serves the consumer. CRM is software that helps to record customer information, track problems, solve problems, marketing, manage their campaigns, and recommend new products to existing customers. While the software is an obvious choice for retail and service-based companies, it also finds a place in businesses related to the manufacturing and finance sector. Salesforce is arguably the dominant force in global CRM revenues. According to IDC, Salesforce controls around 20 percent of the global market share of CRM from 2 to 5. Considering that cloud-based CRM software is expected to grow at a double digit rate in the coming years, Salesforce finds itself in a very good position. The company, which announced its fourth quarter operating results for 2020 last week, left another successful year behind. Total sales in 2020 increased by 24 percent to 21.3 billion dollars. CEO Marc Benioff stated that he is aiming for Salesforce to generate more than $ 50 billion in sales over the next few years. In other words, an annual sales growth of 20 percent has almost become the basis for Salesforce. Also, keep in mind that Salesforce is in the middle of buying Slack Technologies for $ 27.7 billion in cash and stock. Assuming the deal is closed, Salesforce will be able to use Slack's cloud-based enterprise communications platform as a jumping-off point for cross-selling with CRM solutions. Salesforce may be a mega-cap stock, but it's still in the early stages of its growth.   3 Growing Stocks That Can Make You Rich In March - Salesforce Source: https://www.fool.com/ You may also be interested in:

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