Having tucked yet another beat-and-raise quarter under its belt, cloud pioneer Salesforce.com (CRM) has proven to investors yet again that it is truly one of the only stocks in the SaaS sector that is a comfortable long-term Hold.
The company continued to outperform both its own internal targets as well as Wall Street expectations on the growth front, while making better-than-expected progress on its profitability.
- Salesforce shares rocketed nearly 10% after posting yet another beat-and-raise quarter.
- The strong quarterly results, as well as an upbeat Q4 outlook, will help Salesforce begin to reverse its losses from the October pullback.
- Revenues continued at a strong growth pace of 26% y/y, barely decelerating from last quarter.
- The company also substantially boosted its bottom line and margin profile.