Salesforce Stock Gets a Wall Street Boost, Cloud Businesses Back?

Quick Summary:

Many investors are going full macro mode right now, focusing too much on today's data and not on tomorrow's implications.The U.S.election is coming up in a little over a month, a new earnings season is underway, and lots of economic data is pending for the Federal Reserve (the Fed) to consider further interest rate cuts before 2024 is over.

Some are still pointing to economic data like unemployment and contracting manufacturing PMI index readings for the past 22 months to quote a ‘hard landing,' but sticking to this view might keep these investors 100% bearish and potentially miss out on some of the potential rallies that can still be had.

One potential rally can be found in shares of Salesforce Inc.(NYSE: CRM), especially now that Wall Street has reiterated a new boost on the stock's price target, pointing to further upside in the coming quarters.

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Article Details

Author / Journalist: MarketBeat

Category: Technology

Markets: United StatesChina

Topics: WDAY ADBE News Earnings Trading Ideas CRM Price Target Large Cap Tech Contributors Analyst Ratings Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-01 @ 19:14:33 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 927 words

Reading Time: 6 minutes read

Sentences: 40 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 22842013

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