The market is having a full-blown existential crisis over the future of software. But when you look under the hood at Salesforce's cash turbine, the math tells a totally different story.
Salesforce is getting very attractive here. While I don’t think it has the greatest upside relative to other names in the sector, have to think we’re getting close to a floor here given their domain expertise
Large-cap SaaS with defendable moats and pricing power like CRM look very attractive at these levels
Salesforce is getting very attractive here. While I don’t think it has the greatest upside relative to other names in the sector, have to think we’re getting close to a floor here given their domain expertise
How much Salesforce do you own? Or what % of your portfolio?
It is only on my watchlist for now. But pondering whether to find space for it very soon.
Makes sense, do you have any other SaaS plays?
Looking into a few (Veeva Systems, Procore, SPS Commerce) at the moment, but no verdict yet.
Nice!