Followers | 679 |
Posts | 141057 |
Boards Moderated | 36 |
Alias Born | 03/10/2004 |
Friday, May 29, 2020 4:14:04 PM
By: TheStreet | May 29, 2020
• Salesforce.com topped analyst estimates but cut guidance due to the uncertainty around the coronavirus pandemic.
Shares of Salesforce.com (CRM) were falling in premarket trading on Friday after the company reported fiscal first quarter revenue of $4.87 billion, a 30% year-over-year increase, and earnings of 70 cents per share.
Those results topped analyst consensus estimates of revenue of $4.85 billion and earnings of 65 cents per share.
However, for the July quarter, Salesforce is guiding for revenue of $4.89 billion to $4.9 billion with earnings between 66 cents and 67 cents per share. Analysts are expecting revenue of $5.04 billion and earnings of 74 cents per share. And the company cut its guidance for fiscal 2021 revenue from a range of $21 billion to $21.1 billion down to about $20 billion, and EPS from a range of $3.16 to $3.18 down to $2.93 to $2.95.
Shares were falling 3.4% to $175.00 in pre-market trading.
The analyst community remains undeterred, however.
Deutsche Bank (Buy, $195 PT unchanged)
Relative to management's strong tone and language on pipeline activity thus far, the guide appeared uninspiring, especially in comparison to the surprisingly better outlook from Workday.
Although, we feel that Salesforce is de-risking the model and being prudent in light of an environment that has never been experienced before. On the guide and forward looking commentary, we’d flag: 1. We believe that the 2QF21 cRPO growth guide of 16% - 17% was roughly in line if not slightly ahead of investors’ expectations.
-Taylor McGinnis
JPMorgan (Overweight, $200 PT unchanged)
Salesforce.com stands out from almost any pack as the pioneering trailblazer of the cloud computing movement, and it has blossomed into a true multi-product success story as it now rides atop multiple product pillars of substantial scale and trajectory.
Billings growth has decelerated or remained roughly consistent in each of the last four quarters. A continued deceleration in the year-over-year billings growth rate, whether due to underlying fundamental challenges or invoicing optics, could provide a headwind for shares of CRM.
-Mark Murphy
Wedbush (Outperform, $204 PT unchanged)
Salesforce’s growth is driven by an innovative SaaS business and technical model, complemented by effective sales and marketing. Salesforce is the bellwether for SaaS adoption, as its multi-tenant delivery and configurable service enable customers to shorten implementation cycles and deploy new technology rapidly. The company has >30% share in its core sales automation market, while Service Cloud and Marketing Cloud are rapidly gaining share in their respective markets (we estimate 21% and 12% shares, respectively).
-Steve Koenig
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent CRM News
- Salesforce Unveils Zero Copy Partner Network, an Ecosystem Committed to Secure, Bidirectional Zero Copy Integration with Salesforce Data Cloud • Business Wire • 04/25/2024 07:15:00 AM
- Li Auto Stock Drops 7.3% Amid Tesla Price Cuts, Salesforce Retreats from Informatica Deal, and Other Market Updates • IH Market News • 04/22/2024 12:09:21 PM
- IHG Hotels & Resorts Aims to Boost Guest Loyalty with Salesforce • Business Wire • 04/22/2024 12:00:00 PM
- Apple to Invest $250 Million in Singapore Expansion, Oracle Commits $8 Billion to Japan Infrastructure, and More News • IH Market News • 04/18/2024 11:11:52 AM
- Samsung Surpasses Apple in Q1 Smartphone Market; Salesforce in Talks to Acquire Informatica, and More News • IH Market News • 04/15/2024 11:06:48 AM
- Walgreens Slashes Annual Profit Forecast; MillerKnoll Nosedives 17% on Bleak 4Q Outlook, and Latest News • IH Market News • 03/28/2024 01:48:04 PM
- Analysts’ Recommendations for March 27th: FedEx, Visa, Uber, Adobe… • IH Market News • 03/27/2024 12:13:10 PM
- Super Micro Computer and Seagate Shares Surge on Analyst Optimism in Pre-Market Trading, and Latest News • IH Market News • 03/26/2024 11:20:49 AM
- Salesforce Grants Equity Awards to Spiff Employees Under Its Inducement Equity Incentive Plan • Business Wire • 03/22/2024 08:02:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 08:26:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 10:09:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 10:17:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 09:37:05 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 03/06/2024 09:32:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 09:29:37 PM
- Turtle Bay Resort Redefines Personalized Hospitality with Salesforce’s Einstein 1 Platform • Business Wire • 03/06/2024 06:00:00 PM
- Salesforce Launches Einstein 1 Studio: Low-Code AI Tools for Customizing Einstein Copilot and Embedding AI into Any CRM App • Business Wire • 03/06/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:56:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:50:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 12:39:16 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/04/2024 09:05:18 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 09:28:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/29/2024 11:24:59 PM
- Snowflake Stock Plummets 20.3% After CEO Transition; C3.ai, Okta, and Duolingo Surge Post-Strong Quarterly Reports, and More • IH Market News • 02/29/2024 11:09:45 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/28/2024 09:15:49 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM