Salesforce (NYSE: CRM) stock price is capped at a critical resistance point and may not set new highs soon. The Q2 results are great, including improved guidance, but the market must overcome headwinds. Among them are slowing growth, macroeconomic conditions, and the oh-so-tricky September trading outlook. September is a tough month for stocks, typically highlighted by volatility, if not lower prices, and there is ample risk with the FOMC and inflation in focus.
The takeaway for investors is that CRM shares will likely move lower soon, providing a more attractive entry for new money because the long-term outlook remains robust. The global shift to digitization and lean into customer engagement drives business. We live in a world where digitization is the key to unlocking efficiency and profitability, and business is good, providing ample cash flow sufficient to pay dividends and repurchase shares while investing in growth.
Salesforce Growth Is Priced Into the Market
Salesforce. com had a better-than-expected quarter, but two things are capping gains following the results. The first is that revenue growth of 8.5% is down sequentially and compared to last year, with no hope of accelerating in 2024. The second is that analysts steadily ...
