Last month Salesforce reported its Q2 2020 results. After the announcement of financial results, the shares rose by more than 13%. The results exceeded analysts' expectations. Salesforce shares will also replace Exxon Mobil in the Dow Jones Industrial Average from August, 31.

Revenue increased by 29% up to $ 5.1 billion. It mainly consists of revenue from the following subscriptions:

• Sales Cloud +13% or $1.2 billion;
• Service Cloud +20% or $1.3 billion;
• Salesforce platform and others +66% or $1.5 billion.

The annual revenue forecast went up by about 21-22% to $20.8 billion. The forecast for the third quarter was also increased by about 16% (to $ 5.25 billion).
The coronavirus has had a positive impact on software vendors, especially with the overall tendency for remote work. Salesforce's financial performance is expected to improve even more, as many companies will proceed working from home until the end of next year.

Net profit in the second quarter amounted to $ 2.6 billion, which is more than 28 times more than last year.

Salesforce introduced a new product to market in Q3, Work.com, to help businesses reopen safely after the pandemic.

The consensus forecast of analysts from Reuters converges on the purchase of shares of this company. The further growth in the value of shares will be affected by the situation with the pandemic. Even after the peak of the infections has passed, a decline in demand for Salesforce products is not expected.

Some analysts have already revised their previous calculations. Jefferies believes Salesforce shares may continue to rise to $285, with the current price of $244.80. Goldman's forecast stalled at $252, slightly below JP Morgan's estimate of $250.

Excluding non-business hours, Salesforce shares are up to 33% since the beginning of the year.