Once upon a time..
share price had some sort of connection to the health and value of a company.
Now the stock market seems to be more an online casino.
In this case...I sorta get it for Workday...but SFDC looks very healthy from here.
Salesforce shares slid yesterday despite posting revenues of $5.82bn for Q4 of its fiscal '21, up 20 per cent on the same period last year. The SaaS CRM specialist joins Workday among cloud application vendors disappointing an insatiable stock market even though revenue growth was strong. Income from operations for Salesforce …
Why do you think this disproves that?
Salesforce has been priced for dramatic growth for years because it has demonstrated that it can deliver it. Now that the growth looks to be trending down towards ‘upper end of normal’ territory investors are amending their future expectations accordingly.
That’s exactly how stock markets are supposed to work. They sometimes throw off some batshit outcomes due to collective investor madness (Snowflake being the latest) but Salesforce’s stock price levelling off as its growth does is predictable and sensible.