Technology behemoth Microsoft Corporation (NASDAQ: MSFT) recently revealed that the company has launched a new seller experience application named Viva Sales to enhance the capability of any Customer Relationship Management (CRM) system.
Following the news, shares of the company declined 2.7% during yesterday’s trading session, which can be attributed to wider market concerns. Yet, it pared its losses slightly to close at $245.80 during the extended trading session.
Strategic Impact
With the use of Viva Sales, salespeople or sales teams in an organization will be able to get valuable insights from across Microsoft 365 and Teams, make manual data entry redundant, and receive AI-driven recommendations and reminders. This in turn will ensure time-saving and efficient customer management.
Viva Sales is an extension of Microsoft Viva, which was launched last year. Microsoft Viva is an integrated employee experience platform.
Management’s Take
Judson Althoff, Chief Commercial Officer at Microsoft, said, “The future of selling isn’t a new system. It’s bringing the information sellers need at the right time, with the right context, into the tools they know, so their work experience can be streamlined. Empowering sellers to spend more time with their customers has been our goal — and we’ve done that by reimagining the selling experience with Viva Sales.”
Stock Rating
Yesterday, UBS analyst Karl Keirstead reiterated a Buy rating on the stock. The analyst, however, lowered the price target from $360 to $330, which implies upside potential of 34.8% from current levels.
Consensus among analysts is a Strong Buy based on 24 Buys and one Hold. The MSFT average price target of $353.67 implies upside potential of 44.5% from current levels. Shares have declined 6.1% over the past year.
Positive Investor Sentiment
TipRanks’ Stock Investors tool shows that top investors currently have a Very Positive stance on MSFT. Furthermore, 11.5% of the top portfolios tracked by TipRanks increased their exposure to MSFT stock over the past 30 days.
Conclusion
With hybrid workforce a reality of our times, a robust CRM system has become all the more necessary to ensure efficient customer management. To that end, Microsoft’s Viva Sales is expected to present the sales team in an organization with an effective application to manage the customer’s needs more efficiently.
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