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Salesforce: the renewal cohort is converting above plan · Stoa

CALLCRM25 days ago4.3Kviews

Salesforce: the renewal cohort is converting above plan

List price is a distraction. Realised price per account has risen for five straight quarters, which is where pricing power actually shows up.

Anya Volkov@anya_volkov

Evidence · 3 cards

The case

Salesforce: the renewal cohort is converting above plan

List price is a distraction. Realised price per account has risen for five straight quarters, which is where pricing power actually shows up.

The edge

The Street says

Consensus models the cycle turning in the second half
Sell-side target clusters within 8% of spotAuto

I say

The turn already happened in order intake two quarters ago
My number is 14% above the street on the out yearCreator est.

Path to target

Entry: 237.41Auto
Out-year EPS: +18% vs consensusCreator est.
Exit multiple: 22x, in line with the last cycle peakCreator est.
= Target: 273.18Creator est.

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Discussion · 1

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Bar Amsalem

Bar AmsalemSEP 1

Looking good, interesting

0

Anya Volkov makes the case · 0:19

CRMLong

Near

Entry$237.41

Resolved$264.43

14d horizon

PositionNo position

Compensation

Certified independent

ViewsThese are the creator's own views

This is research, not financial advice. Calls lock at publish and are graded by the market; they can be and often are wrong. Do your own research and consider your own circumstances before acting.