Salesforce.com, Inc. CRM launched a host of new solutions on the first day of TrailheaDX 2018, its third annual developer conference, held in San Francisco.
Salesforce unveiled its “Integration Cloud” solution that will ease the bridging of systems, devices and different data sources irrespective of storage locations leading to improved customer experience. Additionally, with the aim of providing enthusiasts tools to enhance user experience further, the company introduced Lightning Flow for the incorporation of process automation.
The company also added Einstein Analytics, which can be used in applications for the purpose of better decision making. The introduction of Quip Live Apps ensures the availability of a variety of interactive applications from partners such as Altify, draw.io and Vidyard.
We believe all these additions will boost the company’s top line going ahead. Notably, the company’s shares have returned 37% over the past year, outperforming the 27.5% rally of the industry it belongs to.
Salesforce Also Gaining From Inorganic Additions
Apart from innovations, acquisition is one of Salesforce’s key growth strategies. In fiscal 2017 alone, the company inked as many as 13 takeover deals. The company is set to buy a B2B e-commerce software provider, CloudCraze and an integration software maker, MuleSoft. These acquisitions are expected to strengthen its portfolio further.
We believe that Salesforce’s sustained focus on expanding its business through strategic acquisitions and investments will drive growth over the long run.
Other Influencing Factors
Salesforce has achieved the $10-billion mark in revenues faster than any other enterprise software company. Notably, the company’s diverse cloud offerings and strong spending on digital marketing remain the catalysts.
Furthermore, the company’s move to utilize other data center operators like Amazon AMZN and Alphabet’s GOOGL geographical reach to expand its international business is commendable. It will help the company in achieving its targeted $20 billion sales mark in the next few years.
All these factors are expected to drive the momentum in the shares of this Zacks Rank #2 (Buy) company.
Western Digital Corporation WDC is another top-ranked stock in the broader technology sector with a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Western Digital is currently projected to be 19%.
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