What to Expect When Salesforce Reports After the Close
Salesforce is scheduled to release its fiscal first-quarter earnings after the markets close on Tuesday.
Salesforce.com Inc. (NYSE: CRM | CRM Price Prediction) is scheduled to release its fiscal first-quarter earnings after the markets close on Tuesday. The consensus estimates are calling for $0.61 in earnings per share (EPS) and $3.68 billion in revenue. The same period of last year reportedly had $0.74 in EPS and $3.01 billion in revenue.
The company previously addressed guidance for this quarter in its most recent report, wherein it called for EPS in the range of $0.60 to $0.61 and revenue between $3.67 billion and $3.68 billion.
Also at that time, Salesforce reported subscription and support revenues of $3.38 billion, an increase of 26% year over year, while professional services and other revenues were $228 million, an increase of 16%.
Salesforce reported solid fiscal 2019 results overall, and the stock is on Merrill Lynch’s US 1 List. The company posted another year of outstanding revenue growth, surpassing $13 billion in revenue faster than any other enterprise software company in history.
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Excluding Tuesday’s move, Salesforce has underperformed the broad markets, with its stock up only 6% year to date. In the past 52 weeks, the stock actually is up about 12%.
A few analysts weighed in on Salesforce ahead of the report:
- JPMorgan has a Buy rating with a $180 price target.
- Wedbush has an Outperform rating and a $192 price target.
- Merrill Lynch has a Buy rating and a $200 price target.
- Nomura has a Buy rating.
- OTR Global has a Positive rating.
Shares of Salesforce were up about 1% at $146.57 on Tuesday, in a 52-week range of $113.60 to $167.56. The consensus price target is $182.18.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
