Salesforce Stock is a Resilient Best-of Breed CRM Play

Customer relationship management software giant Salesforce (NASDAQ: CRM)shares fallen (-31%) in 2022. Salesforce is the largest enterprise customer relationship software (CRM) company in the world through acquisitions including Slack, Mulesoft, and Tableau. Despite macroeconomic uncertainty with inflationary and supply chain pressures, hybrid office, digital transformation and cloud migration are robust tailwinds for years to come. The Company is still growing revenues at 24% while bolstering its remaining performance obligation (RPOs) to $42 billion in fiscal Q1 2023. The Company has survived through recessions, bear markets, financial meltdowns, and global pandemics. Management claims to not have seen any material impacts from the weakening economic data as the demand environment remains strong. However, Salesforce did lower both its top and bottom lines guidance moving forward although margins were raised to 20.4% from 20%. The Company has resiliently survived every crisis in the last quarter century and has continued to grow revenues for 72 consecutive quarters. Prudent investors with a long-term horizon looking for exposure in the world’s #1 CRM company can watch for opportunistic pullbacks in shares of Salesforce.

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