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What to Expect When Salesforce Reports After the Close
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Salesforce.com Inc. (NYSE: CRM) is scheduled to release its fiscal second-quarter financial results after the markets close on Wednesday. The consensus estimates are calling for $0.47 in earnings per share (EPS) and $3.23 billion in revenue. In the same period of last year, the company said it had $0.33 in EPS and $2.56 billion in revenue.
In a move announced earlier this month, Keith Block is being promoted by the board to directors to co-CEO, where he will serve in this role alongside the co-founder and board chair, Marc Benioff.
Previously, Block served as Salesforce’s vice chair and president, and as a director since joining the company in June 2013. Most recently he served as the company’s chief operating officer since February 2016.
Overall, Salesforce has outperformed the broad markets, with its stock up about 63% in the past 52 weeks. In just 2018 alone, the stock is only up about 50%.
A few analysts weighed in on Salesforce ahead of the report:
- RBC has an Outperform rating with a $155 price target.
- Wedbush has an Outperform rating and a $160 price target.
- Jefferies has a Buy rating with a $168 price target.
- Cowen has an Outperform rating with a $165 target.
- Merrill Lynch has a Buy rating and a $181 price target.
- BMO Capital Markets has a $165 price target.
Shares of Salesforce were last seen up about 1% at $154.33, with a consensus analyst price target of $157.37 and a 52-week trading range of $92.11 to $154.88.
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