Salesforce.com (NYSE: CRM) is trading higher by double-digits after last night’s earnings. The CRM and enterprise software player reported fourth quarter results of $0.43 EPS on $632 million in sales; expectations from Thomson Reuters were down at $0.40 EPS and $624 million in sales. For fiscal-2013 the software players sees earnings in a range of $1.58 to $1.62 EPS and it raised its 2013 revenue forecasts to $2.92 billion to $2.95 billion. Thomson Reuters has estimates of $1.62 EPS on sales of $2.91 billion.
For the first quarter the guidance is slightly ahead on revenues but earnings actually look a tad light. Ideally, this is going to be considered a sand-bagging of projections to under-promise and over-deliver.
Salesforce.com (NYSE: CRM) Maintained Neutral but raised target to $145 on Credit Suisse; Raised to Buy at ThinkEquity; Reiterated Buy and raised target to $170 at Canaccord Genuity.
The 11% pre-market gain to $147.00 is interesting here when you consider the valuation at the new price is still 90-times forward earnings. This stock has always had a super-high earnings multiple, but how many years does a stock have to trade at 100-times earnings?
Top Gaining Stocks
Top Losing Stocks