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?
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
