Salesforce (CRM) to Offer Customer 360 Solution Suite to Bose

Salesforce CRM recently announced that it entered into an agreement with the audio company, Bose, to provide a complete product and software suite solution — Salesforce Customer 360. This will enable Bose to deliver personalized and tailored experiences to its customer base.

Salesforce's Customer 360 is an integrated customer relationship management ("CRM") product that provides market-leading solutions for sales, marketing, commerce, service, and IT departments with shared, easy-to-understand data under a single platform. It offers a single view of customers to the teams so that they can create connected, personalized customer experiences, thus building stronger relationships.

Per the latest contract, the Massachusetts-based audio product company will implement Salesforce's Marketing Cloud, Service Cloud, Commerce Cloud solutions along with MuleSoft and Einstein technology solutions. This, in turn, will not only deepen Bose's customers’ loyalty and satisfaction with its wide range of products but also accelerate its digital transformation process.

Salesforce Inc. Price and Consensus

Salesforce Inc. price-consensus-chart | Salesforce Inc. Quote

Salesforce has been benefiting from a robust demand environment as customers are undergoing a major digital transformation. The rapid adoption of its cloud-based solutions has been driving demand for its products.

Last year’s acquisition of Slack is likely to be a huge win as it would enhance the company’s enterprise team collaboration software capabilities. With the integration of Slack’s software into its cloud-based office suites, the company intends to improve collaboration between sales and customer support teams. During fourth-quarter fiscal 2022 results, Salesforce’s Slack business boosted revenues with a contribution of $308 million.

In the past few years, the company invested in several start-ups, acquired businesses and entered into partnership agreements to bolster its product portfolio and enhance its global footprint.

Recently, in March, Salesforce entered into a global partnership with Sprout Social to make it easy for its customers to manage their full social media presence — engagement, publishing & scheduling, analytics, listening, and advocacy and platform integrations — through Sprout’s industry-leading social suite.

Prior to that, in February, Salesforce’s MuleSoft partnered with Holiday Inn Club Vacations Incorporated to create a single vacation booking system that delivers unified digital experiences for the national vacation ownership company's members.

Zacks Rank & Key Picks

Salesforce currently carries a Zacks Rank #3 (Hold). Shares of CRM have surged 81.3% in the past year.

Some better-ranked stocks from the broader computer and technology sector are Arrow Electronics ARW, currently sporting a Zacks Rank #1 (Strong Buy), Axcelis Technologies ACLS and Analog Devices ADI, both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Arrow Electronics’ first-quarter 2022 earnings has been revised upward by 28.7% to $4.53 per share over the past 60 days. For 2022, Arrow Electronics’ earnings estimates have moved north by 18.8% to $18.48 per share in the past 60 days.

ARW’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 19%. Shares of Arrow Electronics have gained 3.2% in the past year.

The Zacks Consensus Estimate for Axcelis’ first-quarter 2022 earnings has been revised upward by 5 cents to 92 cents per share over the past 60 days. For 2022, Axcelis’ earnings estimates have moved north by 12.4% to $3.99 per share in the past 60 days.

Axcelis’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 30.3%. Shares of ACLS have risen 46.6% in the past year.

The Zacks Consensus Estimate for Analog Devices’ second-quarter fiscal 2022 earnings has been revised upward by 23 cents to $2.08 per share over the past 60 days. For fiscal 2022, earnings estimates have moved north by 79 cents to $8.32 per share in the past 60 days.

Analog Devices’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 6%. Shares of ADI have climbed 0.6% in the past year.

Zacks Names "Single Best Pick to Double"

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.