Strength Seen in Salesforce.com (CRM): Can Its 4.0% Jump Turn into More Strength?

Salesforce.com (CRM) shares ended the last trading session 4% higher at $347.10. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.4% loss 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 $2.60 per share in its upcoming report, which represents a year-over-year change of +13.5%. Revenues are expected to be $10.04 billion, up 8.1% 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 been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Salesforce.com is a member of the Zacks Computer - Software industry. One other stock in the same industry, Intuit (INTU), finished the last trading session 1.5% higher at $606.62. INTU has returned -6.4% over the past month.Intuit's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.59. Compared to the company's year-ago EPS, this represents a change of -1.5%. Intuit currently boasts a Zacks Rank of #3 (Hold).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 Intuit Inc. (INTU): 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