Salesforce Shares Surge 25%. What Happened?

Author: Tim Phillips

August 27, 2020

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Rightly regarded as the “King of Cloud”, Salesforce.com Inc (NASDAQ: CRM) blew past earnings estimates with shares surging to finish the day up 26% – an all-time high. 

More importantly the company raised its full-year guidance amid the pandemic, targeting US$20.8 billion in revenue for the full fiscal year.

As the poster child for the “cloud subscription” business model, I’m a huge fan of what Marc Benioff has pulled off at Salesforce. 

Now the leading, dominant company in the CRM space worldwide, Salesforce’s suite of products have become a “must-have” for many sales and marketing teams.

I always like to buy the long-term winners in each market segment and Salesforce is without a doubt the leader in its space.

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About the Author: Tim Phillips

Tim, based in Singapore but from Hong Kong, caught the investing bug as a teenager and is a passionate advocate of responsible long-term investing as a great way to build wealth. He has worked in various content roles at Schroders and the Motley Fool, with a focus on Asian stocks, but believes in buying great businesses – wherever they may be. In his spare time, Tim enjoys running after his two year-old son, playing football and practicing yoga.