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1832 Asset Management L.P. Buys 768,436 Shares of Salesforce, Inc. (CRM)
By: MarketBeat | September 9, 2023
• 1832 Asset Management L.P. grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 208.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,137,438 shares of the CRM provider's stock after buying an additional 768,436 shares during the quarter. 1832 Asset Management L.P. owned 0.12% of Salesforce worth $227,237,000 at the end of the most recent quarter...
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Salesforce.com, Inc. $CRM Nice curl back up , watching for earnings highs now
By: Options Mike | September 9, 2023
• $CRM Nice curl back up , watching for earnings highs now.
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Salesforce.com, Inc. $CRM Great report Q3 guidance fabulous.. Q4.. lackluster
By: Options Mike | September 4, 2023
• $CRM Great report Q3 guidance fabulous.. Q4.. lackluster.
No power after the the gap up so far.. gap slowly being erroded.
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Salesforce's $CRM Q2 visualized
By: Savvy Trader | September 1, 2023
• Salesforce's $CRM Q2 visualized.
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The shares of Salesforce (CRM) are enjoying post-earnings tailwinds today
By: Schaeffer's Investment Research | August 31, 2023
• Salesforce reported strong second-quarter results and lifted its full-year forecast
• CRM is up over 65% since the start of 2023
The shares of Salesforce Inc (NYSE:CRM) are enjoying post-earnings tailwinds today, after the Dow member posted better-than-expected second-quarter results and lifted its full-year forecast. Analysts flooded CRM with bear notes after the event, with no fewer than 21 brokerages lifting their price targets.
Of the 38 analysts in coverage, 24 carry a "buy" or better rating, with 13 a "hold," and one "strong sell." Meanwhile, the current 12-month consensus price target of $252.88 sits at a 13.4% premium to current levels.
At last glance, CRM was up 3.6% at $222.77, earlier as high as $228.79, and headed for its fifth-straight daily win. Today's pop also pushed the stock back above its 60-day moving average. Since the start of the year, Salesforce stock is up 68.7%.
So far in the options pits today, 127,000 calls and 83,000 puts have been exchanged, which is already 5.1 times the average daily options volume. The weekly 9/1 230-strike call is the most active contract, with new positions opening there.
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Salesforce rallies as profitability push pays off
By: Investing.com | August 31, 2023
(Reuters) -Salesforce rallied over 5% on Thursday after its strong earnings report showed that cost cuts were working and demand was holding up better than expectations in a turbulent economy.
The business software firm behind workplace-messaging tool Slack and data analytics tool Tableau was set to add around $10 billion to its market value. The stock has risen more than 60% so far this year.
Salesforce (NYSE:CRM) bumped up its annual forecast for adjusted operating margin on Wednesday to about 30% from 28%, with CFO Amy Weaver stressing the new figure "is a floor, not a ceiling".
Wall Street analysts lauded the move, noting the benefits from an aggressive profitability push at a company that has traditionally focused on growing bigger through acquisitions.
After a nudge from activist investors earlier in the year, the Marc Benioff-led firm has laid off thousands, reduced office space and dialled back employee perks this year to prop up profitability that has for years trailed rivals.
The "ceiling is the roof" for margins, analysts at Raymond James said. The brokerage was among the 26 that lifted their price targets on the stock, pushing the median view to $255, according to Refinitiv data. That is nearly 19% higher than the stock's last close.
Wednesday's report also eased some concerns about slowing growth at the company.
While the 11% rise in second-quarter revenue was much slower than historic growth rates of around 20% to 30%, the figure breezed past Wall Street expectations, and Salesforce also raised its annual revenue forecast.
The company has tried to navigate a downturn in tech spending by rolling out a suite of artificial intelligence features and raising prices for the first time in seven years.
The results should drive up investor confidence in the company, brokerage Raymond James said, adding that "shares are simply too low priced" for a company executing well in a tough economy.
Salesforce trades at 25 times its forward 12 months earnings estimates, compared with the industry median of 15.14.
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Salesforce (CRM) price target raised
By: FLOWrensics | August 31, 2023
• Salesforce price target raised to $230 from $210 at TD Cowen »07:34
price target raised to $265 from $250 at Canaccord »07:24
price target raised to $220 from $210 at Baird »07:08
price target raised to $240 from $220 at UBS »07:06 $CRM
price target raised to $255 from $250 at Mizuho »06:39
price target raised to $280 from $250 at BofA »06:37
price target raised to $275 from $250 at Wells Fargo »06:23
price target raised to $250 from $235 at Oppenheimer »06:20
price target raised to $229 from $220 at Citi »05:58
price target raised to $240 from $230 at JPMorgan »05:44
price target raised to $260 from $245 at Barclays
price target raised to $275 from $250 at Jefferies »05:28
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Today Salesforce.com Inc. (CRM) is the best performer in the DJIA
By: Thom Hartle | August 31, 2023
• Today (8:34 CST), the best performer in the DJIA is Salesforce.com Inc. CRM.
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Salesforce (CRM) forecasts third-quarter revenue above estimates
By: Investing.com | August 30, 2023
(Reuters) - Salesforce (NYSE:CRM) projected third-quarter revenue above Wall Street estimates on Wednesday as it benefits from a recent price hike and resilient demand for its cloud and business software offerings in an uncertain economy.
The company said it expects revenue to be between $8.70 billion and $8.72 billion in the current quarter, compared with estimates of $8.66 billion, according to Refinitiv data.
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Salesforce Stock is UP $13.44 or 6.20% after double beat on earnings report as I post.
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Salesforce $CRM Just Reported Earnings: Double Beat
By: Evan | August 30, 2023
• SALESFORCE $CRM JUST REPORTED EARNINGS
EPS of $2.12 beating expectations of $1.88
Revenue of $8.6B beating expectations of $8.53B
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Salesforce $CRM reports earnings tomorrow after the markets close, Wall ST is expecting numbers of
By: Evan | August 29, 2023
• Salesforce $CRM reports earnings tomorrow after the markets close, Wall ST is expecting numbers of
EPS of $1.89 up 58.8% YoY
Revenue of $8.53B up 10.5% YoY
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Salesforce (CRM) renewals risk makes Citi cautious into earnings
By: Investing.com | August 28, 2023
Citi analysts lowered their price target on Salesforce (NYSE:CRM) stock by $10 to $220 per share.
The new price target implies an upside potential of about 5%. Salesforce is due to report its earnings on Wednesday, after market close.
“We reiterate our Neutral rating as top-line growth trends remain pressured amid renewal risk heading into CQ4/2024 and as expectations on margin expansion have largely played out,” analysts wrote in a note sent to Citi clients.
The analysts highlight several recent developments, including CRM’s “heavily marketed, yet relatively underwhelming AI event in June”, price increases, and organizational changes.
While Citi’s checks showed signs of improvement in new projects, this positive aspect was offset by growing concerns related to renewals and shelfware. These concerns, more prominently anticipated in Q3/Q4 compared to Q2, were coupled with reports of aggressive sales strategies employed to secure deals in Q2.
“We heard some partners mention how CRM has been using the surprise price increase to incentivize customers with open opportunities (upsells, etc.) to renew early. A big overhang remains the large contract renewal risk due to shelfware, which we worry about more for FQ4 (Citi 250 bps below street on Q4 cRPO) and next year,” analysts added.
CRM stock is up 58% year-to-date.
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5 Top Goldman Sachs Stock Picks Have 50% to 80% Upside Potential
By: 24/7 Wall St. | August 25, 2023
• Salesforce
This company was an innovator in customer relationship management software. Salesforce Inc. (NYSE: CRM) provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers.
Salesforce’s Service offerings include:
• Sales, to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence and deliver quotes, contracts and invoices
• Service, which enables companies to deliver trusted and highly personalized customer service and support at scale
Its Service offerings also comprise flexible platform that enables companies of various sizes, locations and industries to build business apps to bring them closer to their customers with drag-and-drop tools; online learning platform that allows anyone to learn in-demand Salesforce skills; and Slack, a system of engagement.
Further Service offerings include:
• Marketing, which enables companies to plan, personalize and optimize one-to-one customer marketing journeys
• Commerce, which empowers brands to unify the customer experience across mobile, web, social and store commerce points
• Tableau, an end-to-end analytics solution serving various enterprise use cases
• MuleSoft, an integration offering that allows its customers to unlock data across their enterprise
The company provides its Service offerings for customers in financial services, health care and life sciences, manufacturing and other industries.
The company also offers professional services and in-person and online courses to certify its customers and partners on architecting, administering, deploying and developing its service offerings. The company provides its services through direct sales and consulting firms, systems integrators and other partners.
The Goldman Sachs target price is $325, while Salesforce stock has a consensus target of just $237.48. From Thursday’s $205.51 close, hitting the Goldman Sachs target would be more than a 55% gain.
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Salesforce (CRM) 2Q results likely to overcome low bar - Oppenheimer
By: Investing.com | August 24, 2023
Oppenheimer analysts reiterated an Outperform rating and $235 price target on Salesforce (NYSE:CRM) in a note Thursday ahead of the company's second-quarter results.
The analysts told investors there are mixed business trends for the company, but its results are likely to overcome a low bar.
"In our view, the earnings risk for CRM weighs slightly positive ahead of F2Q results despite our recent field checks pointing to mixed business trends for Salesforce and with investor expectations at higher levels for this earnings report," they wrote.
"Positively, we detected improvement to the demand environment and possibly stabilizing trends in the sales operations for Salesforce in F2Q," they added.
The estimates bar is low for Salesforce this quarter, according to Oppenheimer, and they believe there are enough positives in the business trends and bookings performance to raise its conviction in CRM displaying "modest upside to consensus estimates for CRPO growth, subscription revenue, and operating margin in F2Q."
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Today Salesforce.com Inc. (CRM) is the best performer in the DJIA
By: Thom Hartle | August 21, 2023
• Today (8:33 CST), the best performer in the DJIA is Salesforce.com Inc. CRM.
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What's Next For The Best Performing Dow Stock Of 2023?
By: Barchart | August 9, 2023
Strength in the tech sector has been a huge stock market storyline in 2023, highlighted by the Nasdaq's best first-half performance in decades. This outperformance has spilled over to the Dow Jones Industrial Average ($DOWI), too. The broader Dow is up just 6.3% on the year, while shares of tech-focused component Salesforce Inc (CRM) have surged by 55% this year.
Valued at a market cap of $206 billion, CRM still trades 50% below its all-time highs. As the market's recent outperformers start to pull back, let's see if Salesforce can continue its impressive rally, or if investors should take their profits on this cloud stock.
www.barchart.com
Is Salesforce Stock A Buy, Sell Or Hold?
Salesforce is the leading customer relationship management (CRM) platform globally. Its cloud-based CRM applications across verticals such as sales, service, and marketing can be easily set up and managed, allowing companies to manage customer interactions on a single unified platform that's accessible across devices.
With over 150,000 companies using its platform, Salesforce has been the leading CRM software provider globally by sales for the last ten years. The company has tripled sales from $10.5 billion in fiscal 2018 to $31.4 billion in fiscal 2023 (ended in April). It's also the fastest-growing top-5 enterprise software company in the world.
In its fiscal Q1 of 2024, Salesforce reported revenue of $8.2 billion, an increase of 11% year over year. It onboarded several prominent clients in Q1, including Spotify (SPOT), Siemens (SIEGY), NASA, and the U.S. Department of Defense. Operating cash flow rose 22% year over year to $4.5 billion, while remaining performance obligations, or RPOs, were up 11% at $46.7 billion.
Salesforce emphasized its focus on transformation, and cost optimization drove results in Q1. It reported an adjusted operating margin of 27.6%, an increase of 1,000 basis points year over year - an exceptional result, given the higher pricing environment.
What's Next For CRM Stock Price And Investors?
Despite a tepid macro environment, Salesforce raised its margin targets for fiscal 2024. It expects to report an operating margin of 28% in 2024, an increase of 550 basis points compared to the year-ago period. It also expects this metric to improve to 30% in Q1 of fiscal 2025. Salesforce forecasts sales between $34.5 billion and $34.7 billion in fiscal 2024, an increase of 10% year over year.
Plus, due to cost-savings initiatives, Salesforce expects operating cash flow growth between 16% and 17%, with capital expenditures forecast at 2.5% of sales.
Earlier this year, Salesforce unveiled EinsteinGPT, the first generative AI for CRM. The product was showcased at the Trailhead DX event in March, and may be a key revenue driver for the company. EinsteinGPT allows customers to connect with multiple large language models while providing toolsets to design generative AI apps that can be built on "reasonable prompts."
Salesforce remains laser-focused on restructuring efforts that should improve profit margins amid a challenging period. Similar to megatrends like the cloud, social media, and smartphones, Salesforce expects AI to lead the next cycle of innovation.
What Is The Target Price For Salesforce Stock?
Priced at 31.5x forward earnings and 6.5x forward sales, Salesforce might seem expensive. However, most analysts remain optimistic about the stock's future prospects.
Out of the 26 analysts covering Salesforce stock, 22 recommend a "strong buy," 2 recommend a "moderate buy," 13 recommend a "hold,” and 1 recommends a “strong sell.” The average price target for CRM stock is $232.06, about 12% above its current trading price.
www.barchart.com
Due to its improving margins and cash flow profile, Salesforce can reinvest in growth, pursue accretive acquisitions, and enhance shareholder wealth via buybacks. Since August 2023, it has returned $6 billion to investors via share buybacks, representing 38 million shares. In Q1, it returned $2.1 billion to investors.
Salesforce is a company that enjoys high switching costs and a wide economic moat. Its expanding portfolio of products and solutions, improving financials, and market leadership position make it a top investment choice for long-term investors, despite its relatively high valuation and impressive gains already in 2023.
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Is Salesforce $CRM setting up to make another run for it here?
By: TrendSpider | August 1, 2023
• $CRM Is Salesforce setting up to make another run for it here?
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$CRM $1 Million+ Straddle Variation + Inter-Market Sweep Order (ISO)
By: Cheddar Flow | July 24, 2023
• $CRM $1M+ Straddle Variation + Inter-Market Sweep Order (ISO)
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Salesforce rises as it unveils pricing for generative AI tools
By: Markets & Mayhem | July 19, 2023
• KEY POINTS:
- Salesforce shares rose 2% in pre-market trading on Wednesday as it unveiled pricing for its generative artificial intelligence technology.
- In a release, San Francisco-based Salesforce said Sales GPT costs $50 per user per month and comes with a "limited" number of credits for its generative AI tool, Einstein GPT. Service GPT also sports a $50 per user per month price and has a "limited" number of credits for Einstein GPT as well.
- "As usage grows, customers can purchase Enterprise Expansion packs for Sales and Service teams," Salesforce added.
- Salesforce said in March that it would integrate generative artificial intelligence into every facet of the company, including sales, service, marketing, commerce and IT interaction.
- Pricing of Salesforce's generative AI tools comes one day after Microsoft unveiled pricing of its own generative AI tool, Copilot. Microsoft will charge $30 per user per month for the Microsoft 365 Copilot add-on, a detail that impressed several Wall Street analysts.
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Salesforce $CRM with a bull flag breakout in premarket after the company unveils pricing for its new generative AI tools.
By: TrendSpider | July 19, 2023
• $CRM Salesforce with a bull flag breakout in premarket after the company unveils pricing for its new generative AI tools.
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Salesforce.com, Inc. $CRM Up big after raising their prices, which is a joke because these deals are all heavily negotiated. But market liked it
By: Options Mike | July 16, 2023
• $CRM Up big after raising their prices, which is a joke because these deals are all heavily negotiated. But market liked it. Again, wouldn't chase now, but see if it holds the 8D.
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Analysts hike Salesforce stock targets after rare price hikes
By: Investing.com | July 12, 2023
Shares of customer relations management company Salesforce (NYSE:CRM) closed nearly 4% higher on Tuesday after it announced a plan to increase prices beginning in August.
In a statement published on its website, Salesforce said it will be increasing list prices by an average of 9% across Sales Cloud, Service Cloud, Marketing Cloud, Industries, and Tableau.
“Salesforce’s last list price increase was seven years ago, and since then the company has delivered 22 new releases, thousands of new features—including recent generative AI innovations—and invested more than $20 billion in research and development,” the company said in an announcement discussing the changes.
The cost of Professional Edition will increase by $5 to $80, Enterprise Edition will increase by $15 to $165, and Unlimited Edition will now cost $330, up $30.
In the view of analysts at Evercore ISI, the price hike is reasonable and could provide a potential tailwind for earnings.
"While there will clearly be some complaints from customers about the price increase, after a 7-year hiatus, we believe that a 9% increase is pretty reasonable given that other SaaS companies have passed through annual increases in the 4-5% range," analysts wrote in a note to clients.
They added, "Clearly, for big customers and customers adding new modules, we expect the net impact will not be anywhere near 9%, but we expect these price actions could provide a bit of a tailwind for CRM into 2H FY24 and 1H FY25."
Needham & Company analysts hiked the price target on CRM stock by $20 to $250 per share as new prices offer an "opportunity for top and bottom line benefit."
"We conducted a quick analysis to evaluate the potential incremental revenue and earnings uplift from this new pricing, and concluded that there is the potential for $229mm of revenue uplift in the first 12 months (4Q24 - 3Q25) and given there will be minimal costs tied to this additional revenue, EPS could increase $0.16 or a 2% uplift from our $8.01 estimate for this 12-month period. We estimate the full annualized impact (because 4Q24-3Q25 does not have a full year revenue impact) could approximate rev/EPS of $366mm/$0.26. The $0.26/share increment to annual EPS is 3.2% of our estimate and in line with yesterday's 3.9% share move," they said in a client note.
Similarly, BofA analysts estimate that the new prices will yield a 1-2% tailwind to cRPO as early as the second half of this year.
(Additional reporting by Senad Karaahmetovic)
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Today Salesforce.com Inc. (CRM) is the best performer in the DJIA
By: Thom Hartle | July 11, 2023
• Today (8:33 CST), the best performer in the DJIA is http://Salesforce.com Inc. CRM.
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Salesforce $CRM July and August have been kind to Salesforce over the last decade
By: TrendSpider | July 10, 2023
• $CRM July and August have been kind to Salesforce over the last decade
July: 80% win rate and +2.42% average return
August: 67% win rate and +5.84% average return
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Salesforce $CRM Tight triangle setup on declining volume with the TTM Squeeze firing...
By: TrendSpider | July 10, 2023
• $CRM Tight triangle setup on declining volume with the TTM Squeeze firing...
Yeah, its got that look.
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Salesforce $CRM now with some *SIZE & TIME* ~ 11/17 $230 CALLS with $2.82 mil premium/3K contracts
By: FLOWrensics | July 10, 2023
• $CRM now with some SIZE & TIME ~ 11/17 $230 CALLS with $2.82 mil premium/3K contracts.
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This tight descending triangle from Salesforce $CRM is starting to look really juicy.
By: TrendSpider | July 9, 2023
• $CRM This tight descending triangle from Salesforce is starting to look really juicy.
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Bull of the Day: Salesforce (CRM)
By: Zacks Investment Research | June 29, 2023
Salesforce (CRM) stock has been one of the big winners during the first half of 2023, up nearly 60%.
Despite all the talk about large-cap tech being overvalued and overheated heading into July, Salesforce still trades 30% below its all-time highs. And CRM’s new commitment to profits, coupled with its growth outlook, has Salesforce stock trading at some extremely attractive valuation levels.
Salesforce’s expansive portfolio of subscription software offerings are also more essential than ever before across every aspect of the economy.
Price, Technical Levels & Valuation
Salesforce shares have soared nearly 60% YTD to outshine Amazon, Apple, and many other big tech stocks. Even after its impressive ride, CRM currently trades 10% below its average Zacks price target and roughly 32% under its 2021 peaks.
CRM has underperformed the wider Zacks Tech Sector over the last five years, up 55% vs. 85%, as Wall Street appeared to grow frustrated with its commitment to growth over the bottom line—but that is changing (as we will get to).
Image Source: Zacks Investment Research
Salesforce has soared 450% in the last 10 years to blow away the Zacks Tech sector’s 260%, with it also up roughly 1,140% in the last 15 years to triple the tech sector and roughly match Microsoft (MSFT). One of the nearby charts also showcases CRM’s massive run since its 2004 IPO year.
Salesforce has pulled back from the 52-week highs it hit at the end of May. The small drop pushed it below oversold RSI territory and right to neutral levels.
Plus, CRM stock recently found support at its 50-day moving average, while trading far above its 200-day. Technical-focused traders might also be glad to know that Salesforce is once again above both its 200-week and 50-week moving averages.
Image Source: Zacks Investment Research
The downturn coupled with its improved earnings outlook has Salesforce trading at 35.7X forward 12-month earnings. This marks a massive discount to its own five-year highs of 206X and 70% value compared to its five-year median.
CRM’s PEG ratio, which factors in its growth outlook, currently comes in at its lowest levels since the financial crisis at 1.9. Salesforce’s PEG ratio also marks a discount to Zacks Tech sector and solid value vs. Microsoft’s 2.7, Apple’s 2.3, and its Computer-Software industry’s 2.6.
Image Source: Zacks Investment Research
The Business and Its Profitability Pivot
Salesforce is one of the pioneers of modern business software and the wider customer relationship management and software-as-a-service industries. CRM’s current offerings support sales, marketing, commerce, customer and client engagement, analytics, app development, and beyond, servicing a wide spectrum of the economy.
Salesforce, like nearly every tech company, is pushing forward into the booming world of artificial intelligence. The company is currently working to infuse “trusted, secure generative AI across our entire product portfolio. Salesforce's generative AI ecosystem wields Einstein GPT, Slack GPT, and Tableau GPT, delivering trusted power across our product portfolio.”
Salesforce made a few large acquisitions over the last several years to expand its reach. These efforts include its $28 billion deal to buy Slack in the summer of 2021 to help CRM compete against Microsoft and others in the evolving work communication space. The deal came roughly two years after Salesforce paid $15 billion for data analytics platform Tableau.
Image Source: Zacks Investment Research
These recent deals could mark the last in a long time for Salesforce as it focuses on the bottom line following a successful activist investor push. CEO Marc Benioff said on its Q4 FY23 (2022) earnings call on March 1 that the goal “is to make Salesforce the largest and most profitable software company in the world.”
Salesforce’s transformation plan includes short-term and long-term restructuring. Salesforce also said earlier this year that it disbanded its M&A committee. Salesforce is focused on a transformational FY24 that includes a beefed-up share repurchase plan from $10 billion to $20 billion.
Growth and Outlook
Salesforce posted between roughly 25% to 35% sales growth for 10 straight years through its fiscal 2022. CRM then grew its revenue by 18% in fiscal 2023 (last year).
Zacks estimates call for Salesforce’s revenue to climb by roughly 11% in both FY24 and FY25 to see it hit $38.47 billion. These are the kinds of stable low double-digit sales growth figures (mostly organic) that Wall Street will love as long as it is accompanied by solid bottom line expansion.
Image Source: Zacks Investment Research
Salesforce’s adjusted earnings are projected to soar by 42% this year to hit $7.44 per share and then climb by about 21% next year to $8.99 a share. These growth projections follow 10% adjusted earnings growth last year. Plus, Salesforce has beaten our quarterly EPS estimates for five years running.
Bottom Line
Salesforce’s subscription software offerings aren’t going out of style in our digital-driven world. The tech giant’s new-found focus on margins and profitability should also start to attract long-term investors to again, as will its AI efforts.
Salesforce’s upbeat earnings outlook helps it land a Zacks Rank #1 (Strong Buy) as we close out June and look ahead to the potentially bullish second half.
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Zacks Research Weighs in on Salesforce, Inc.'s Q1 2025 Earnings (CRM)
By: MarketBeat | June 24, 2023
• Salesforce, Inc. (NYSE:CRM) - Equities research analysts at Zacks Research boosted their Q1 2025 earnings per share (EPS) estimates for shares of Salesforce in a note issued to investors on Tuesday, June 20th. Zacks Research analyst A. Bhagat now expects that the CRM provider will earn $1.41 per share for the quarter, up from their previous forecast of $1.33. The consensus estimate for Salesforce's current full-year earnings is $5.26 per share. Zacks Research also issued estimates for Salesforce's Q2 2025 earnings at $1.47 EPS, Q3 2025 earnings at $1.50 EPS, Q4 2025 earnings at $1.61 EPS, FY2025 earnings at $5.99 EPS and FY2026 earnings at $8.26 EPS...
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Salesforce Insider Trading Alert: Marc Benioff, Chair & CEO of Salesforce, sold more than $100 million worth of $CRM shares last week
By: Barchart | June 19, 2023
• Salesforce Insider Trading Alert
Marc Benioff, Chair & CEO of Salesforce, sold more than $100 million worth of $CRM shares last week.
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Salesforce.com, Inc. $CRM AI day was a mess, vaporware.. FYI watch $AMD on how a presentation should go
By: Options Mike | June 19, 2023
• $CRM AI day was a mess, vaporware.. FYI watch $AMD on how a presentation should go.
Stuck in range for now, 205 support.
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Zacks Research Analysts Increase Earnings Estimates for Salesforce, Inc. (CRM)
By: MarketBeat | June 16, 2023
• Salesforce, Inc. (NYSE:CRM) - Investment analysts at Zacks Research boosted their Q2 2024 earnings per share estimates for Salesforce in a research note issued on Tuesday, June 13th. Zacks Research analyst A. Bhagat now anticipates that the CRM provider will earn $1.33 per share for the quarter, up from their previous estimate of $1.12. The consensus estimate for Salesforce's current full-year earnings is $5.26 per share. Zacks Research also issued estimates for Salesforce's Q3 2024 earnings at $1.31 EPS, FY2024 earnings at $5.28 EPS, Q1 2025 earnings at $1.33 EPS, Q2 2025 earnings at $1.37 EPS, Q3 2025 earnings at $1.38 EPS, Q4 2025 earnings at $1.53 EPS, FY2025 earnings at $5.61 EPS, Q1 2026 earnings at $1.77 EPS and FY2026 earnings at $7.99 EPS.
Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, May 31st. The CRM provider reported $1.69 EPS for the quarter, topping the consensus estimate of $1.61 by $0.08. The company had revenue of $8.25 billion during the quarter, compared to analyst estimates of $8.17 billion. Salesforce had a return on equity of 5.75% and a net margin of 1.18%. During the same period in the prior year, the firm posted $0.41 earnings per share...
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Salesforce Continues AI Push, Launches Enterprise-Ready Cloud Solution
By: 24/7 Wall St. | June 13, 2023
Salesforce, one of the leading cloud-based companies globally, introduced its latest offering on June 12, dubbed ‘AI Cloud’ – a generative artificial intelligence (AI) solution aimed at “supercharging customer experiences and company productivity” for its enterprise clients.
Salesforce’s AI Cloud Starter Pack Will Cost $360,000 per Year
Salesforce announced on Monday the launch of AI Cloud – a new set of products aimed at delivering enterprise-ready AI technology and reinforcing the company’s position in the world’s hottest sector. Shares of Salesforce slightly advanced by 0.4% in premarket trading following the announcement.
The move marks the latest Salesforce effort to expand its product portfolio with AI features. However, it is also seen as a continuation of the company’s generative AI solution, Einstein GPT, which was rolled out in March.
“It’s really about bringing generative AI in a trusted fashion to the enterprise,” “We’re moving incredibly fast to leverage the history we have in AI and build this into our stack in a trusted fashion.”
– Adam Caplan, SVP of emerging technology at Salesforce, said in an interview with TechCrunch.
According to the press release, the new offering will include Salesforce’s products from the Einstein GPT, to the communication and collaboration platform Slack, and data analysis service Tableau. The starter pack version of AI cloud will be priced at $360,000 annually, Salesforce said.
Salesforce Doubles its Funding for Generative AI Startups
In addition to AI Cloud, Salesforce announced it has doubled its venture capital (VC) fund for generative AI startup companies to $500 million. Salesforce CEO Marc Benioff said AI “is reshaping our world and transforming business in ways we never imagined,” adding that “ every company needs to become AI-first.”
AI has been growing rapidly for several years, but it received a major boost late last year following the unprecedented success of ChatGPT – an AI chatbot developed by OpenAI. ChatGPT’s rise to glory left all major tech giants and startups racing to develop their generative AI products and compete for their piece of the pie.
Last month, Goldman Sachs analysts said the nascent AI field could boost US corporate net margins by 4% over the next 10 years and become the biggest long-term support for companies’ profits. On the other hand, analysts added that a near-term growth boost is looking unlikely due to current macroeconomic challenges.
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Today Salesforce.com Inc. (CRM) is the best performer in the DJIA
By: Thom Hartle | June 12, 2023
• Today (8:34 CST), the best performer in the $DJIA is Salesforce.com Inc.
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Salesforce.com, Inc. (CRM) AI day Monday.. eyes on this one
By: Options Mike | June 11, 2023
• $CRM AI day Monday.. eyes on this one.
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Today Salesforce.com Inc. (CRM) is the best performer in the DJIA
By: Thom Hartle | June 9, 2023
• Today (8:34 CST), the best performer in the DJIA is http://Salesforce.com Inc.
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Salesforce's (CRM) generative AI integration 'to offer significant long-tailed growth opportunities' - Goldman Sachs
By: Investing.com | June 8, 2023
Goldman Sachs analysts reiterated a Buy rating and $325 price target on Salesforce (NYSE:CRM) in a research note Thursday.
The analysts explained that Salesforce is beginning what they expect to be "a slew of generative AI product innovations" over the next few months that can support revenue re-acceleration past FY24.
"The most recent announcements around Marketing GPT, Commerce GPT and key integrations between Data Cloud + Google come after the introduction of similar releases for Einstein, Tableau and Slack, and are likely to represent the first wave of technological improvements across the company's platform that can significantly enhance Salesforce's value proposition and market position," said the analysts.
"We see Salesforce being one of the key beneficiaries of this innovation cycle given the vast amount of data stored in its ecosystem."
The analysts also stated that Salesforce's open approach so far — partnering both with OpenAI and Google — is likely to further allow it to "utilize industry evolution while building on its proprietary proposition."
"As the largest player in CRM (the biggest market within software), we expect Salesforce's steadfast execution in embedding gen-AI across its portfolio to offer significant long-tailed growth opportunities," they added.
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Today Salesforce.com Inc. (CRM) is the best performer in the DJIA
By: Thom Hartle | June 7, 2023
• Today (8:34 CST), the best performer in the $DJIA is Salesforce.com Inc.
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Behind Salesforce Stock's Post-Earnings Slide
By: Schaeffer's Investment Research | June 1, 2023
• Slowing revenue growth is weighing on CRM
• CRM is brushing off upbeat first-quarter results as well as several bull notes
Salesforce Inc (NYSE:CRM) is at the bottom of the Dow today, down 3.8% to trade at $213.94 at last glance. The company announced its slowest revenue growth since 2010 as companies cut back on cloud-based software offerings. This news has the stock brushing off its better-than-expected first-quarter results and no fewer than 16 price-target hikes from analysts.
Falling from last session's more than one-year high of $225.00, Salesforce stock is still up an impressive 62.1% year-to-date. The shares are also well above recent support at the 40-day moving average.
So far today, 166,000 calls and 89,000 puts have been exchanged, which is 4.4 times the usual daily volume. The weekly 6/2 220-strike and 215-strike calls are the most active contracts, with new positions being opened at both.
Options bulls were targeting CRM leading up to the earnings event as well. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day put/call volume ratio of 1.95 ranks higher than 84% of readings from the past year.
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Analysts defend Salesforce (CRM) as soft guidance prompts shares to fall
By: Investing.com | June 1, 2023
Salesforce (NYSE:CRM) reported better-than-expected first-quarter results and revenue guidance for the current quarter that topped expectations. Still, shares trade 5.5% lower in premarket Thursday.
Salesforce announced adjusted EPS of $1.69 on revenue of $8.25 billion. Analysts polled by Investing.com anticipated EPS of $1.61 on revenue of $8.18B.
Subscription and support revenues for the quarter were $7.64B, an increase of 11% year-over-year. Professional services and other revenues for the quarter were $0.61B, an increase of 9% year-over-year.
Looking ahead, the company reiterated full-year 2024 guidance to between $34.5B and $34.7B. The company forecast Q2 revenue in the range of $8.51B to $8.53B, above Wall Street estimates for $8.49B.
Analysts blamed the drop in shares on the magnitude of revenue outperformance that was below historical trends while the F2Q cRPO forecast also came in lower than expected.
Still, Goldman Sachs analysts reiterated a Buy rating on CRM shares, saying the results were "strong in light of the challenging macro backdrop."
"FY24 guidance of +500bps expansion remains viable and likely represents the start of a multi-year journey that will raise CRM's margin profile to similar levels of best-in-class software at ~33-35%," they said in a client note.
Bank of America analysts reaffirmed a Top Pick status on CRM shares as macro headwinds continue to weigh on the outlook.
"We are impressed by the 1% beat to guidance for 11% y/y cRPO growth given the tough macro and disruption from restructuring actions[...] Our conviction that Salesforce is emerging as the next quality GARP stock remains high," the analysts said.
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Salesforce Q1 results tops expectations; Reiterates FY outlook
By: Investing.com | May 31, 2023
Salesforce reported Wednesday fiscal first-quarter results and revenue guidance for the current quarter that topped expectations.
Salesforce.com (NYSE:CRM) shares fell 4% in after-hours trade following the report.
Salesforce.com announced adjusted EPS of $1.69 on revenue of $8.25 billion. Analysts polled by Investing.com anticipated EPS of $1.61 on revenue of $8.18B.
Subscription and support revenues for the quarter were $7.64B, an increase of 11% year-over-year. Professional services and other revenues for the quarter were $0.61B, an increase of 9% year-over-year.
Looking ahead, the company reiterated full-year 2024 guidance to between $34.5B to $34.7B.
The company forecast Q2 revenue in the range of $8.51B to $8.53B, above Wall Street estimates for $8.49B.
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Salesforce Stock volatile after earnings report, down 3.98% = 214.49 as I post.
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Salesforce $CRM Just Reported Earnings
By: Savvy Trader | May 31, 2023
• SALESFORCE $CRM JUST REPORTED EARNINGS
EPS of $1.69 beating expectations of $1.61
Revenue of $8.25 beating expectations of $8.18B
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Salesforce $CRM $1.3 Million Calls • Strike: 230 • Expiration: 6/30/23
By: Cheddar Flow | May 31, 2023
• $CRM $1.3M+ OTM Calls
Strike: 230
Expiration: 6/30/23
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Today Salesforce.com Inc. (CRM) is the best performer in the DJIA
By: Thom Hartle | May 30, 2023
• Today (8:35 CST), the best performer in the $DJIA is Salesforce.com Inc.
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