Salesforce Stock Gets Boost After Upbeat Revenue Prediction

The stock's technical setup looks promising right now

Digital Content Manager

Sep 23, 2021 at 9:17 AM

Salesforce.com, Inc (NYSE:CRM) this morning lifted its full-year 2022 revenue forecast to a slightly higher range of $26.25 billion to $26.35 billion, and initiated a full-year revenue outlook of $31.65 billion to $31.80 billion, blowing past analysts' estimates. The company cited rising demand for its cloud-based software as more people adopt a hybrid work style, due to the pandemic.

In response, the equity is up 3.2% at $267.34 in electronic trading, as it attempts to bounce back from its late-August fall off its annual high of $275.22, guided higher by the 40-day moving average. The stock looks ready to take back recent pressure at its 20-day moving average, too, and is now up over 16.5% in 2021.

Sentiment is mostly bullish among the brokerage bunch. Of the 25 in coverage, four consider CRM a "hold," while the remaining carry a "strong buy."

Lastly, options traders are also swimming in optimism, with calls hot. Specifically, CRM's 50-day put/call volume ratio of 2.85 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands higher than 98% of readings in its annual range.

Follow @Schaeffers

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released!