Salesforce.com Inc. (NYSE: CRM) is set to release its fiscal third-quarter financial results after the markets close on Thursday. The consensus estimates call for $0.21 in earnings per share (EPS) and $2.12 billion in revenue. The same period of last year reportedly had EPS of $0.21 and $1.71 billion in revenue.
Though this top company reported choppy second-quarter numbers, the stock took a hit. Salesforce provides enterprise cloud computing solutions, with a focus on customer relationship management to various businesses and industries worldwide. It offers enterprise cloud computing applications and platform services, including Sales Cloud that enables companies to store data, monitor leads and progress, forecast opportunities, gain insights through relationship intelligence and collaborate around sales on desktop and mobile devices.
The company also provides Service Cloud, which enables companies to deliver personalized customer service and support, as well as connect their service agents with customers on various devices; and Marketing Cloud, which enables companies to plan, personalize and optimize customer interactions.
Despite the second-quarter earnings and billings miss, the analysts remain positive and Merrill Lynch commented about this recent report:
Our take is seasonality may be shifting heavily towards the fourth quarter after defying size, producing consistent execution for 3 years. The company has recovered from billings misses, raising questions about maturity, execution, competition, with panache in the past.
A few analysts weighed in on Salesforce ahead of the earnings report:
- Rosenblatt Securities has a Buy rating with a $90 price target.
- Stifel has a Buy rating and a $93 price target.
- Merrill Lynch reiterated a Buy rating with a $100 price objective.
Excluding Thursday’s move, Salesforce has underperformed the broad markets, with the stock down 5.4% year to date.
Shares of Salesforce were last seen up over 1% at $74.17 on Thursday, with a consensus analyst price target of $93.40 and a 52-week trading range of $52.60 to $84.48.
The Average American Is Losing Momentum On Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4%1 today. Checking accounts are even worse.
But there is good news. To win qualified customers, some accounts are paying more than 7x the national average. That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn a $200 bonus and up to 7X the national average with qualifying deposits. Terms apply. Member, FDIC.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.