Technology
What Analysts Are Saying About Salesforce After Earnings
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Salesforce.com Inc. (NYSE: CRM) released its most recent earnings report after markets closed Tuesday. This stock has been on a long run upward, posting incredible gains for over the past five years. Although this company is known for having what some might consider a runaway price-to-earnings (P/E) valuation, it hasn’t fallen off yet and continues to hit all-time highs.
24/7 Wall St. has included some highlights from the earnings report, as well as what analysts are saying about the firm after the fact.
The company said that it had $0.33 in earnings per share (EPS) and $2.56 billion in revenue, compared with consensus estimates from Thomson Reuters of $0.32 in EPS and revenue of $2.51 billion. The same period of last year reportedly had EPS of $0.24 and $2.04 billion in revenue.
Subscription and support revenues totaled $2.37 billion, an increase of 26% from last year, while professional services and other revenues were $193 million, an increase of 28%.
Separately, deferred revenue was $4.82 billion, an increase of 26%, or 25% in constant currency. Unbilled deferred revenue was approximately $10.4 billion, up 30%.
In terms of guidance for the coming quarter, the company expects to see EPS in the range of $0.36 to $0.37 and revenues between $2.64 billion and $2.65 billion. The consensus estimates call for $0.36 in EPS and $2.61 billion in revenue.
Analysts had this to say about the stock after earnings:
Shares of Salesforce were last seen up about 1% at $93.91, with a consensus analyst price target of $101.30 and a 52-week range of $66.43 to $94.60.
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