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Salesforce Stock Has Been Accumulated Over Q3

Russell Shor Written by Russell Shor
  • CRM.us
    (${instrument.percentChange}%)


Past performance is not an indicator of future results
Source: www.tradingview.com

Salesforce released its Q2 earnings on 25 August. This marks an important inflection point (dashed blue vertical) on the company's price chart. For most of 2021, the stock moved sideways, as did its volume (red dashed horizontal). The lower chart shows the OBV indicator, which shoots upwards, following the Q2 earnings release, as the price takes off.


Past performance is not an indicator of future results

Salesforce is the leader in the CRM industry, with approximately 20% of the market share. This is more than its next four competitors combined. The company has shown double-digit growth in revenue over the last three years, with a mean growth rate of 26%. Moreover, our forecast for 2022 sees its ROIC (derived from adjusted NOPAT, net PP&E, and working capital items) return to pre-covid levels.

Forward guidance has also been positive, with an expectation of more than doubling revenue by 2026. If ROIC improves as forecast, coupled with this forward guidance regarding revenues, there is scope for significant value creation. The market is recognising similar and, as such, the accumulation may very well continue.

Reference:
finance.yahoo.com/quote/CRM/
fool.com

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Russell Shor

Senior Market Strategist

Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.

Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.

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