Salesforce.com (CRM) Moves 6.1% Higher: Will This Strength Last?

Salesforce.com CRM shares rallied 6.1% in the last trading session to close at $341.73. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 11.8% gain over the past four weeks.The optimism surrounding the stock can be attributable to the robust demand environment as customers are undergoing a major digital transformation. Salesforce is benefiting from a comprehensive product suite and robust partner ecosystem enabling enterprises to enhance seamless customer interaction and productivity. Continued deal wins in the international market are another growth driver.This customer-management software developer is expected to post quarterly earnings of $2.43 per share in its upcoming report, which represents a year-over-year change of +15.2%. Revenues are expected to be $9.34 billion, up 7.1% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Salesforce.com, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CRM going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Salesforce.com is part of the Zacks Computer - Software industry. Simulations Plus SLP, another stock in the same industry, closed the last trading session 5.1% higher at $32.15. SLP has returned -2.1% in the past month.For Simulations Plus, the consensus EPS estimate for the upcoming report has changed +101.9% over the past month to $0.18. This represents a change of +80% from what the company reported a year ago. Simulations Plus currently has a Zacks Rank of #2 (Buy).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Salesforce Inc. (CRM): Free Stock Analysis Report Simulations Plus, Inc. (SLP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks