Salesforce.com Is Building an Empire; Our FVE Is $186
We believe Salesforce.com represents one of best long-term growth stories in software. We maintain our wide moat and positive moat trend ratings and raise our fair value estimate to $186 per share from $180 based on slightly higher long-term growth assumptions. Even so, this suggests 16% upside from the current price, and we therefore view the shares as modestly undervalued. Our fair value estimate implies a price/earnings ratio of 46 times fiscal 2021 non-GAAP earnings per share.After introduc...
Salesforce.Com is engaged in customer relationship management technology. The company's Customer 360 is an integrated platform that unites sales, service, marketing, commerce, integration, analytics and more to give companies a single, shared view of their customers. Through its platform and other developer tools, the company also enables third parties to develop additional functionality and applications, or apps, that run on its platform, which are sold separately from or in conjunction with the company's service offerings. The company's cloud service offerings include sales cloud, service cloud, marketing and commerce cloud, and salesforce platform and other.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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