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Salesforce (CRM) Is Looking Like a Buy After An Earnings Sell-Off

Salesforce CRM blew out both top and bottom-line estimates, but investors were concerned about the $27.7B acquisition of Slack WORK. CEO Marc Benioff promised no M&A activity for the remainder of 2020, and this move came as a surprise to investors.

CRM shares dipped over 9% in morning trading.

This acquisition would represent the largest in its history, but analysts don’t like the fundamentals. Slack should have been a pandemic winner, but its growth figures have been unimpressive.

Benioff is confident that his enterprise’s institutional partnerships and digital expertise will bring this Slack to its full potential.

Don’t bet against Benioff is what I’ve learned with its slew of excellent acquisitions, including the $15.3B Tableau deal last year, which was met with initial skepticism but was ultimately a success. 

I think CRM is a buy following the earnings sell-off, and I will average down on CRM shares if it continues to fall.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report, inc. (CRM): Free Stock Analysis Report
Slack Technologies, Inc. (WORK): Free Stock Analysis Report
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