Salesforce saw its IBD SmartSelect Composite Rating rise to 96 Tuesday, up from 94 the day before.
The upgrade means the stock is now outperforming 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
Salesforce is not currently near a proper buy zone. It has once again turned upward, trying to clear important moving averages. Additionally, look for the stock to form and break out of a new chart pattern.
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CRM Earnings
The stock earns a 98 EPS Rating, which means its recent quarterly and annual earnings growth is outpacing 98% of all stocks. Next earnings release scheduled for Nov. 28.
Its Accumulation/Distribution Rating of D- shows moderate selling by institutional investors over the last 13 weeks. Look for the rating to improve to at least a C or better.
In Q2, the company reported 78% earnings-per-share growth. Revenue was flat, matching the prior quarter's 11%.
Salesforce earns the No. 12 rank among its peers in the Computer Software-Enterprise industry group. Manhattan Associates, ServiceNow and Workday are among the top 5 highly-rated stocks within the group.
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