Corporate Trends Support this Cloud Powerhouse

Companies solving problems related to remote work trends fared well at the start of the pandemic. While that’s ending, a few companies are likely to be able to continue carrying on their success.

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  • One such company is Salesforce (CRM). The company was recently given an upgrade to an overweight rating, as shares are at a solid discount from their peak and the enterprise software company is likely to continue consolidating its market share.

    Shares have also started trending up again in recent sessions, even as the rest of the stock market has stalled out. It’s likely shares may run a bit higher in the next few days.

    The trend of the company over the past year has been to rally, correct, and then head higher once again. Shares are up 22 percent over the past year, now lagging the S&P 500.

    Action to take: Shares don’t pay a dividend, but with a growing profit margin now nearing 19 percent, and with revenue up 20 percent in the past year, things are going well for the company. That’s likely to continue to do so. Shares should move higher overall, especially given the high profit margin potential of software companies.

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  • For traders, the August $230 calls, going for about $10.50, could offer further upside from here in the next few sessions. Traders may want to take profits quickly, given how shares quickly rally, then fade the rally back down again.

     

    Disclosure: The author of this article has no positions in the stock mentioned here, but may make a trade on this company after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.