Salesforce: Generative AI, Rising Profit Margins, Share Repurchases To Boost Stock

Summary:

  • Salesforce stock is finally trading near 52-week highs.
  • The company is showing resilient revenue growth amidst a tough macro environment, highlighting the strength of its wide product suite.
  • The company has unveiled its generative AI product offerings, officially making it an AI stock.
  • With a net cash balance sheet and ongoing share repurchase program, I reiterate my buy rating for the stock.

Business Leaders Speak At Fortune Global Forum In San Francisco

Justin Sullivan

Like many tech peers, Salesforce (NYSE:CRM) joined the artificial intelligence bandwagon. The company has already integrated generative AI into its product suites including its new offering Slack GPT. CRM continues to show resilient revenue growth while it drives stronger


Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I am long all positions in the Best of Breed Growth Stocks Portfolio.

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