We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Salesforce Seeks to Expand in Europe With New Office, Grant
Read MoreHide Full Article
Salesforce (CRM - Free Report) recently announced that it is stepping up its expansive efforts in Ireland with a new building — the Salesforce Tower in Dublin — a 430,000 square foot campus of four interconnected buildings. The company also stated its intentions to open 1,500 employment opportunities locally over the course of the next five years.
Further, highlighting Salesforce’s efforts in Ireland was the $1 million grant to Educate Together, announced by Salesforce.org — the company’s philanthropic subsidiary. This grant will be used to build and run 84 primary and 13 second-level schools in Ireland, providing education to more than 28,000 students. Notably, this is said to be Salesforce’s largest European grant to date.
The announcements were made with the Irish Prime Minister Leo Varadkar, in the presence of about 1,000 employees.
Salesforce currently has more than 1,400 employees in Dublin. The addition of 1,500 employees will be across all functions including engineering, customer support, sales and business services.
Miguel Milano, President, International, Salesforce, said, "Europe is Salesforce's fastest growing region, and Ireland has been a significant part of our success. We are excited to be announcing our continued commitment with this investment in Dublin as we grow our team in the coming years."
Salesforce’s expansive efforts in Europe are long documented. Over the past few years, it has invested in several start-ups, through both acquisitions and partnerships. In Europe, the company opened its first data center in the U.K. in August 2014.
In 2015, Salesforce opened two more datacenters, one each in France and Germany, which helped it reach local small and medium businesses as well as government agencies. In the same year, the company’s investment arm, Salesforce Ventures, invested $100 million specifically in European start-ups.
Last April, Salesforce announced an investment of $2.2 billion in its French business over the next five years. Further, in June last year, it announced its plan to spend $2.5 billion to boost sales in the U.K. — its largest European market — over the next five years.
The main intent behind the company’s endeavours in Ireland (Europe in general) might be the fact that its home market in the United States has hit a saturation point leading to slower growth of its cloud software. On the other hand, the company continues to win customers in the international market, which in turn, is helping it deliver strong growth internationally.
We believe expansion in Europe would enable the company to diversify its international revenues, going forward.
Notably, in the last reported quarter, revenue from Americas grew 25% while Europe grew 31% and Asia Pacific grew 26%. However, Americas still accounts for 72% of total revenue while Europe and Asia Pacific account for 18% and 10%, respectively. Therefore, there is still a lot of room for Salesforce’s growth in the international quarters.
Long-term earnings growth rate for Synopsys, Twitter and Marvell is projected to be 10%, 22.05% and 9.38%, respectively.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Salesforce Seeks to Expand in Europe With New Office, Grant
Salesforce (CRM - Free Report) recently announced that it is stepping up its expansive efforts in Ireland with a new building — the Salesforce Tower in Dublin — a 430,000 square foot campus of four interconnected buildings. The company also stated its intentions to open 1,500 employment opportunities locally over the course of the next five years.
Further, highlighting Salesforce’s efforts in Ireland was the $1 million grant to Educate Together, announced by Salesforce.org — the company’s philanthropic subsidiary. This grant will be used to build and run 84 primary and 13 second-level schools in Ireland, providing education to more than 28,000 students. Notably, this is said to be Salesforce’s largest European grant to date.
The announcements were made with the Irish Prime Minister Leo Varadkar, in the presence of about 1,000 employees.
Salesforce currently has more than 1,400 employees in Dublin. The addition of 1,500 employees will be across all functions including engineering, customer support, sales and business services.
Miguel Milano, President, International, Salesforce, said, "Europe is Salesforce's fastest growing region, and Ireland has been a significant part of our success. We are excited to be announcing our continued commitment with this investment in Dublin as we grow our team in the coming years."
Salesforce’s expansive efforts in Europe are long documented. Over the past few years, it has invested in several start-ups, through both acquisitions and partnerships. In Europe, the company opened its first data center in the U.K. in August 2014.
In 2015, Salesforce opened two more datacenters, one each in France and Germany, which helped it reach local small and medium businesses as well as government agencies. In the same year, the company’s investment arm, Salesforce Ventures, invested $100 million specifically in European start-ups.
Last April, Salesforce announced an investment of $2.2 billion in its French business over the next five years. Further, in June last year, it announced its plan to spend $2.5 billion to boost sales in the U.K. — its largest European market — over the next five years.
The main intent behind the company’s endeavours in Ireland (Europe in general) might be the fact that its home market in the United States has hit a saturation point leading to slower growth of its cloud software. On the other hand, the company continues to win customers in the international market, which in turn, is helping it deliver strong growth internationally.
We believe expansion in Europe would enable the company to diversify its international revenues, going forward.
Notably, in the last reported quarter, revenue from Americas grew 25% while Europe grew 31% and Asia Pacific grew 26%. However, Americas still accounts for 72% of total revenue while Europe and Asia Pacific account for 18% and 10%, respectively. Therefore, there is still a lot of room for Salesforce’s growth in the international quarters.
salesforce.com, inc. Revenue (TTM)
salesforce.com, inc. Revenue (TTM) | salesforce.com, inc. Quote
Zacks Rank & Other Stocks to Consider
Salesforce currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader Computer and Technology sector are Synopsys, Inc. (SNPS - Free Report) , Twitter, Inc. and Marvell Technology Group Ltd. (MRVL - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Synopsys, Twitter and Marvell is projected to be 10%, 22.05% and 9.38%, respectively.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>