Get ready. You are about to discover three tech stocks to buy that have not participated in the broader tech sector's upward momentum in 2024. As a result, we believe these tech shares offer significant long-term profit potential.
Right now, customer relations management software specialist Salesforce (NYSE: CRM ) isn't in favor among investors. Yet, one activist investor is buying while others are selling.
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Zacks.com users have recently been watching Salesforce.com (CRM) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Salesforce has continued to plummet after its Q1 earnings print, positioning this stock as a near-term buy. Investors panned the company's weaker growth relative to the past, but key cloud areas are showing impressive constant-currency growth. The stock is trading at a ~1.1x PEG ratio, approaching a buy point if it slides ~5%-10% lower.
Salesforce Inc. (CRM, Financial) reported its fiscal first-quarter 2025 results on May 29. While the company only slightly missed expectations for a couple of key metrics, it then downgraded its expectations for the 2025 fiscal year.
Gen AI is a double-edged technology, as in addition to opportunities, it can also present challenges to enterprise software plays like Salesforce. Thus, despite embedding artificial intelligence into its platforms, revenue growth continues to decelerate. This is the reason for my cautious instance despite this being a cash-generating machine.
A near-perfect storm of negative catalysts caused Salesforce (NYSE: CRM ) stock to plunge after reporting its first-quarter results on May 30. The shares are likely to stay weak for some time due to the Street's current aversion to software names in general and Salesforce in particular.
Salesforce is focusing on profit growth as its business matures. ServiceNow continues to grow at a much faster rate.
The tech-heavy Nasdaq 100 has been on an impressive run this year. It is now up 15% year-to-date, outpacing the S&P 500 by a slight margin and the Dow Jones Industrial Average by a landslide.
24/7 Insights In the past week, insiders scooped up shares of a software giant and a leading railroad operator.
Salesforce stock just had all of its 2024 gains wiped out. The market has grown concerned about rising competition from AI.