Salesforce (CRM, $228.67) to reopen San Francisco office in May
Salesforce.com announced that it is planning to reopen its San Francisco headquarters in May along with its offices in Palo Alto and Irvine, Calif.
The cloud company’s tower in San Francisco has 61 floors and 1.4 million square feet of office space. Office attendance will not be compulsory in the beginning, as employees will have the option to work from home through year's end.
Office reopening will occur in three stages. In the first stage, which is limited to the U.S. and only in areas that have a company-assigned coronavirus risk rating that’s flat or decreasing, fully vaccinated employees can volunteer to join groups of up to 100 people who can work on certain floors; the company will require employees to take Covid tests twice a week. In the second stage, Salesforce will operate at 20% to 75% capacity based on the company’s assessment of risk, and employees can enter office even if they have not received a vaccine. The final stage will allow offices to operate up to 100% capacity.
According to the company, it has already safely opened 22 offices globally, for business-critical employees (who have been at different offices since the beginning of the pandemic). Most of those 22 offices reopened last May in China, South Korea, and Hong Kong.
In a separate statement, Salesforce said it was donating $1.5 million to fight homelessness.
CRM's MACD Histogram just turned positive
The Moving Average Convergence Divergence (MACD) for CRM turned positive on May 10, 2023. Looking at past instances where CRM's MACD turned positive, the stock continued to rise in of 48 cases over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 08, 2023. You may want to consider a long position or call options on CRM as a result. In of 88 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CRM advanced for three days, in of 336 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 281 cases where CRM Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The RSI Indicator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CRM declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
CRM broke above its upper Bollinger Band on May 30, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. CRM’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 89, placing this stock slightly better than average.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.671) is normal, around the industry mean (31.306). CRM has a moderately high P/E Ratio (1000.000) as compared to the industry average of (168.128). Projected Growth (PEG Ratio) (1.534) is also within normal values, averaging (4.122). Dividend Yield (0.000) settles around the average of (0.040) among similar stocks. P/S Ratio (6.959) is also within normal values, averaging (70.523).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a developer of on-demand customer relationship management software technology
Industry PackagedSoftware
CRM and
Correlation & Price change
A.I.dvisor indicates that over the last year, CRM has been closely correlated with ESTC. These tickers have moved in lockstep 72% of the time. This A.I.-generated data suggests there is a high statistical probability that if CRM jumps, then ESTC could also see price increases.
| Ticker / NAME | Correlation To CRM | 1D Price Change % | ||
|---|---|---|---|---|
| CRM | 100% | +1.59% | ||
| ESTC - CRM | 72% Closely correlated | +4.69% | ||
| ADBE - CRM | 71% Closely correlated | +0.44% | ||
| NOW - CRM | 70% Closely correlated | +2.17% | ||
| HUBS - CRM | 70% Closely correlated | +2.86% | ||
| WDAY - CRM | 68% Closely correlated | -3.24% | ||
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