Since last month, CRM stock price has been showing the potential strength of active bears. With the monthly price drop, Salesforce stock price dropped more than 12% in one month. The stock price further dropped 0.63% in its recent week’s price performance. This downside price performance indicated investors have lost their buying power in the CRM stock. Due to this, CRM share price has mostly traded downside with a falling graph.
CRM Stock Price Weekly Analysis
In the recent week’s price analysis, CRM stock lost $2.57 and noted a 1.24% drop while closing at $204.83 near the weekend. However, on August 18, 2023, Friday’s trading session, CRM stock price added $0.99 and rose 0.49% by showing bulls’ dominance. But as the monthly price drop supported the bearish trend of CRM stock, its weekly price performance also showed a similar market trend.
As the above price chart of CRM stock shows, its RSI fell down and proceeded towards its oversold zone. Meanwhile, from the beginning of this month, the bearish trend has already taken CRM stock price to drop from its 20-day moving average. Meanwhile, its recent closing price was quite below the 100-day moving average.
In the recent trading session, CRM stock price showed bulls’ support. If this support continues in the upcoming trading session, then ahead of its upcoming quarter report, CRM share price may experience an upside move with a bullish trend.
Analysts have set their one-year price target at $240.71, up by over 17% from the recent closing price of CRM share. Meanwhile, they have also set their maximum price estimate at $329.00 whereas the minimum estimate is at $140.00. Moreover, in the past 3 months, analysts have given a “buy” rating to Salesforce.
In similar packaged software industry stocks, Infobird Co. (NASDAQ: IFBD) and Xiao-I Corporation (NASDAQ: AIXI) have shown maximum price drops of over 57% and 56% respectively. Eightco Holdings Inc. (NASDAQ: OCTO) and CXApp Inc. (NASDAQ: CXAI) stock further followed weekly price decline with over 38% and 36% respectively.
The Financials of Salesforce
Salesforce Inc., an American cloud-based software company, has a net income of $199.00 Million. It has a price-to-sales ratio of 6.26 with an enterprise-value-to-EBITDA ratio of 23.58. As per its recent Q1 2023 report, CRM earnings per share (EPS) is $1.69 whereas the estimation was $1.62 which accounts for a 4.43% surprise.
The revenue of Salesforce for the same period amounts to $8.25 Billion despite the estimated figure of $8.18 Billion. For the upcoming quarter, the estimated EPS is $1.90 and revenue is expected to reach $8.53 Billion.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/08/19/crm-stock-price-weekly-analysis-supported-its-monthly-analysis/