Salesforce.com stock has defensive characteristics, this portfolio manager says

Jul 12 17:07 2018 Print This Article

Marc Benioff

Salesforce.com (NYSE:CRM) may be too rich for some investors but as the indisputable market leader in CRM software and services, the company is deserving of its high valuation, says Cameron Hurst, chief investment officer at Equium Capital Management, who argues that in these late stages of a lengthy bull run, SaaS companies are where it’s at in the tech sector.

Names like Amazon and Facebook may be the first that come to mind when talking about huge gains in tech stocks in recent years, but with an incredible 250 per cent growth over the past half-decade, Salesforce is definitely part of the conversation.

This week, CRM is hitting record highs, pushing as high as $148 in trading on Thursday. (All figures in US dollars.)

Hurst says that with more and more companies turning to customer relationship management software to crunch their data, Salesforce has emerged as the go-to choice.

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Cantech Letter

Founded in 2008 by Nick Waddell, Cantech Letter is an online magazine focusing on Canadian technology. The site has grown into one of the most popular and respected financial sites in Canada, and was described by Canadian Business Magazine as “one of Canada’s premier technology newsletters”. Waddell, who is Senior Editor, is routinely called on by the mainstream media for perspective on Canadian technology, and has been featured on BNN, CTV News Channel, and the CBC program “The Lang and O’Leary Exchange” in addition to mainstream print media such as The Guardian, The International Business Times, The Globe and Mail, Macleans, The Waterloo Record , Canadian Business, Slate, and Business Insider. You can email Nick at nick@cantechletter.com Cantech Letter is focused on those companies listed on the TSX and TSXV Technology, Cleantech and Life Sciences Sectors. Each year we present the Cantech Letter Awards, which honor Canada’s Top Technology Stock and Top Technology Stock Executive.

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