Salesforce may not be as well known to you as Intel. But take a look for yourself, not only the chart looks strong.

Salesforce is an American IT company that offers software and storage solutions for businesses in the field of cloud computing. The company specializes in business solutions such as customer relationship management (CRM) that are made available online.

500% Earnings Explosion For the third quarter, the company reported revenues of $8.72 billion compared to $7.84 billion a year ago. Net income was $1.22 billion compared to $210 million a year ago. Earnings per share were $1.26 compared to $0.21 a year ago. That’s an earnings explosion of an incredible 500%.

Successful Business Year… For the first nine months, revenues totaled $25.57 billion compared to $22.97 billion a year ago. Net income was $2.69 billion compared to $306 million a year ago. The diluted earnings per share from continuing operations was $2.76 compared to $0.31 a year ago. Salesforce has also delivered strong numbers in the 9-month comparison.

…Leads to Increased Forecast The company said it expects revenues between $9.18 billion and $9.23 billion, with the mid-range exceeding estimates of $9.21 billion. This significantly increased the annual forecast.

How much potential is there in the stock for you? Conclusion: Is there a nicer chart? The IT stock has done very well with a plus of over 97% this year. Analysts‘ expectations are also positive. 33 out of 48 analysts continue to recommend buying despite the strong course, 14 want to hold and only one analyst goes on the safe side and finds a sale better. The average analyst target price is $275 (recently revised upwards). The highest analyst target price was raised from $343 to $369. However, a look at the valuation shows: With a P/E of almost 37 for 2024, the IT stock is no longer a bargain.