CRM stock

2022 - 6 - 1

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Salesforce: From Dow Disappointment to Standout Tech Stock (Motley Fool)

The CRM software giant's latest financial report signals a turnaround from a tough couple of years.

Salesforce has demonstrated that its software platform is popular, and clients are clamoring to take advantage of its features. Its remaining performance obligations jumped 20% to $42 billion, representing between five and six quarters' worth of future business in the Salesforce pipeline. Revenue rose 24% year over year to $7.41 billion in the first quarter of its 2023 fiscal year. Ever since reaching its pinnacle of success in becoming one of the 30 elite stocks in the Dow Jones Industrial Average ( ^DJI -0.54%), Salesforce has seemed to struggle for direction. When Salesforce received an invitation to join the Dow in August 2020, it wasn't hard to understand why. The move came as a relief to investors who had watched the stock lose half its value since November 2021.

CRM Stock Gains 13% on Salesforce Earnings (Investorplace.com)

CRM stock is shooting higher today after Salesforce reported strong Q1 earnings. Here's what investors need to know.

Benioff reported that the company was benefiting from “a whirlwind” of deals. The company’s co-CEO, Marc Benioff, stated that the guidance reduction was caused by currency fluctuations. Salesforce (NYSE: CRM) stock is jumping 13% after the company’s fiscal first-quarter results surpassed analysts’ average estimates.

Salesforce (CRM) Stock Soars 8% After Earnings Beat, Analyst Says ... (StreetInsider.com)

Salesforce (NYSE: CRM) hiked its adjusted EPS guidance for the full year, topping the analyst expectations. The company reported a Q1 adjusted EPS of 98c, ...

On a full-year basis, Salesforce forecasts adjusted EPS in the range of $4.74 to $4.76, up from previous guidance of $4.62 to $4.64, beating the consensus estimates of $4.68 per share. For Q1, Salesforce expects adjusted EPS in the range of $1.01 to $1.02, well below the estimated $1.14 per share. Revenue stood at $7.41 billion in the period, up 24% YoY and above the consensus estimates of $7.38 billion. CRM expects revenue in the range of $31.7 billion to $31.8 billion, down from the previous forecast of $32 billion to $32.1 billion, while analysts were looking for $32.08 billion. The company expects Q2 revenue in the range of $7.69 billion to $7.70 billion, also below the expectations of $7.77 billion. The company reported a Q1 adjusted EPS of 98c, compared to $1.21 in the year-ago period and above the consensus projection of 95c per share.

Salesforce Stock Surges On Solid April Quarter, Profit Margin Outlook (Investor's Business Daily)

Shares in Salesforce (CRM) jumped Wednesday after its April-quarter earnings fell from a year earlier but topped Wall Street targets. Revenue also edged by ...

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Salesforce (CRM) Stock Price: Why It Climbed Over 8% Today (Pulse 2.0)

The stock price of Salesforce Inc (NYSE: CRM) increased by over 8% pre-market today. This is why.

In terms of guidance, Salesforce expects Q2 2023 revenue of between $7.69 billion and $7.7 billion, compared to the consensus of $7.77 billion. And Salesforce expects FY2023 revenue of between $31.7 billion and $31.8 billion, compared to the consensus of $32.06 billion. For the first quarter, Salesforce reported a Q1 EPS of $0.98, which was $0.04 higher than analyst estimates of $0.94. And the revenue for the quarter was $7.41 billion compared to the consensus estimate of $7.38 billion.

Why did Salesforce stock jump today? Earnings, guidance eases ... (Seeking Alpha)

Salesforce (CRM) shares jumped more than 10% on Wednesday after the cloud computing software provider posted first-quarter results that topped expectations ...

In addition to Salesforce ( CRM) reporting first-quarter revenue of $7.41B, which edged above analysts' estimates of $7.38B in sales, Ives said in a research that the company "gave mixed guidance that was much better than the Street was fearing and will be a key shot in the arm for the tech bulls." Instead, it was the opposite. Wedbush Securities analyst Dan Ives, who has an outperform rating on Salesforce ( CRM) shares and a target price of $225 a share, noted that Salesforce ( CRM) is seen as a bellwether for tech and with it reporting outside of the normal schedule, investors were "laser focused" on its report and comments to see if there were any signs of weakness.

Salesforce (CRM) Jumps 9% on Q1 Earnings Beat, Guidance Raise (Nasdaq)

Salesforce CRM stock gained 9.2% in Tuesday's extended trading session after the enterprise cloud computing solutions provider delivered ...

The Zacks Consensus Estimate for MaxLinear's second-quarter 2022 earnings has been revised upward by 10 cents to 83 cents per share over the past 60 days. For fiscal 2022, earnings estimates have moved north by 9.6% to $9.24 per share in the past 30 days. For 2022, earnings estimates have moved north by 17.5% to $4.91 per share in the past 30 days. For fiscal 2023, the company increased its non-GAAP earnings guidance range to the $4.74-$4.76 per share range from the $4.62-$4.64 band projected earlier. And today, the electric vehicle (EV) technology and very nature of the business is changing quickly. However, CRM lowered its revenue guidance range to the $31.7-$31.8 billion range from the $32-$32.1 billion band due to forex headwinds. Salesforce’s first-quarter fiscal 2023 non-GAAP earnings of 98 cents per share beat the Zacks Consensus Estimate of 93 cents. For the fiscal second quarter, Salesforce projects total sales between $7.69 billion and $7.70 billion. Salesforce exited the fiscal first quarter with cash, cash equivalents and marketable securities of $13.5 billion compared with the $10.5 billion recorded at the end of the previous quarter. Thus, the rapid adoption of its cloud-based solutions resulted in the better-than-anticipated performance in the fiscal first quarter. Also, the recently acquired Slack business boosted revenues and contributed $348 million to total sales in the first quarter. Professional Services and Other (7% of total sales) revenues climbed 30% to $555 million.