CRM [NYSE] salesforce.com, inc. Technology | Software - Application | USA salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices. It also provides Service Cloud, which enables companies to deliver personalized customer service and support, as well as a field service solution that enables companies to connect agents, dispatchers, and mobile employees through a centralized platform, which helps to schedule and dispatch work, and track and manage jobs in real-time. In addition, the company offers Marketing Cloud to plan, personalize, and optimize one-to-one customer marketing interactions; and Commerce Cloud, which enables companies to enhance engagement, conversion, revenue, and loyalty from their customers. Further, it provides Customer 360 Platform that offers no-code to pro-code Platform-as-a-Service tools for building, securing, integrating, and managing the business apps; MuleSoft Anypoint Platform enables customers to connect any system, application, data, or device; Quip collaboration platform, which combines documents, spreadsheets, apps, and chat with live CRM data; and Tableau and Einstein Analytics, provides analytical technology to customers. Additionally, the company offers various solutions for financial services, healthcare and life sciences, manufacturing, consumer goods, government, and philanthropy. The company also provides professional services and education services, including instructor-led and online courses; and support and adoption programs. It provides its services through direct sales; and consulting firms, systems integrators, and other partners. Salesforce and Siemens has a strategic partnership. The company was founded in 1999 and is headquartered in San Francisco, California.
Dreamforce Kicks Off Tue, Sep 21, 2021 Salesforce.com (CRM) kicks off its annual Dreamforce conference today. This is the 19th year of the event in which the company showcases its products and hosts various presentations by industry leaders. Like many conferences, in-person attendance is limited again this year with the event streamed online over the next few days. Unlike last year, the conference is back to its usual length of only a few days compared to the 2020 event that went on for nearly a month. The Dreamforce conference typically occurs in the fall but has happened as early as the end of August and as late as early December. As for how Dreamforce impacts the stock, below we show how CRM's performance leading up to, during, and after each year's conference. The stock pretty consistently trades higher around the Dreamforce conference. If you exclude last year when the conference lasted for a much longer period of time, and the Slack takeover acted as a negative catalyst, CRM tends to move higher during the conference. The only notable period of weakness is the week after the conference ends. That period has averaged a 0.93% decline with positive performance less than half the time. Longer-term performance, though, has been more consistent to the upside. Note that because of the extended length of Dreamforce in 2020, performance figures at the bottom of both tables do not take 2020 performance figures into account. Salesforce.com is a giant in the Tech sector ranking as the eighth largest stock in the S&P 500 Technology sector. As such, the stock's performance does hold some weight on the broader market. Below we replicate the table above but with the performance of the S&P 500 Tech Sector ETF (XLK). As with CRM, XLK has typically rallied leading up to the conference, but it tends to underperform CRM during the conference falling 20 bps on a median basis during the few days the event takes place versus CRM's median gain of 0.51%. Following the conference, like CRM, XLK's short-term performance over the next week is mixed to negative, but one, three, and six months later the stock has traded higher more than two-thirds of the time.
Dreamforce Kick Off Mon, Sep 11, 2023 Salesforce (CRM) kicks off its annual Dreamforce Conference tomorrow. Honing in on the buzzword of the year, AI innovation will be front and center with CEO March Benioff's keynote scheduled to focus on the company's usage of AI in its customer relationship management (CRM) platform. Leading up to the conference, Salesforce has been one of the top performing Tech stocks in the S&P 500, rallying 69% year to date. Historically, CRM has often risen in the six months ahead of the conference and has also risen more often than not in the short-term leading up to the start of the event. Once the Dreamforce Conference begins, CRM has historically averaged a 1.24% gain over the three-to-four-day span with positive returns a little over half the time. From there, CRM usually gives up some of its gains one week later, but the following months are once again positive, although it's worth pointing out that the stock has traded lower in the three months after Dreamforce in each of the last three years. Compared to the Tech sector, using the S&P 500 Tech ETF (XLK) as a proxy, performance in the lead up to the conference over the past twenty years has usually been positive. In fact, returns in the six months leading up to the conference have been positive 80% of the time. Unlike CRM, when the conference is underway, the Tech sector has fallen more than half the time with an average drop of 0.15%. The weakness has also been prevalent one week after the conference with an average drop of 0.65%. However, that weakness tended to be short-lived with gains on an average basis one, three, and six months after the conclusion of the conference.
