Salesforce Increases Forecast for the Year on More Products
- Author: Rita Burton Aug 24, 2017,
Aug 24, 2017, 1:38
The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.52 billion.
Salesforce expects third-quarter revenue fall in the range of $2.64 billion to $2.65 billion, an increase of 23% to 24% year-over-year. We believe this is the strongest reflection of the firm's efforts to verticalize its product portfolio, and management echoed this sentiment by calling out numerous wins in the financial services and healthcare industries, two verticals where Salesforce has introduced industry-specific products. Over the trailing year, the stock is outperforming the S&P 500 by 8.69, and it's gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. It was a narrative backed heavily by LOW's September put/call open interest ratio, which rested at an annual low of 0.15 heading into the company's quarterly earnings report this morning. Wall Street had previously forecast earnings of $1.30 a share.
Richard C Young & Company decreased Spdr Series Trust (KRE) stake by 13,018 shares to 107,413 valued at $5.97M in 2016Q4.
08/22/2017 - Salesforce.com Inc had its "buy" rating reiterated by analysts at BTIG Research. The Virginia-based Quantitative Inv Mngmt Limited Liability Company has invested 0.01% in St. Joe Co (NYSE:JOE). About shares traded. Under Armour Inc (NYSE:UA) has declined 48.39% since August 21, 2016 and is downtrending. Bp Public Ltd Com has 0.2% invested in salesforce.com, inc. It fall, as 89 investors sold CRM shares while 255 reduced holdings. The expected CRM's profit could reach $64.10 million giving the stock 259.64 P/E in the case that $0.09 earnings per share is reported. Conway Craig also sold $85,990 worth of salesforce.com, inc. Salesforce.com has $115 highest and $18 lowest target. The firm has "Buy" rating by Needham given on Thursday, November 19.More news: Calm down, internet. Elon's Musk-see SpaceX spacesuit is a bit generic
Salesforce.com, inc. (CRM) shares are up 1.67% for the week and that has got investors and traders sitting up and taking note. The stock has "Buy" rating by Piper Jaffray on Tuesday, August 15. 12,024,545 shares of the stock were exchanged. For CRM, the company now has 1.81 billion of cash on the books, which is offset by 1.14 billion in current liabilities. FBN Securities maintained it with "Outperform" rating and $100 target in Thursday, May 19 report. The Sumitomo Life Insurance Company holds 25,623 shares with $1.75M value, down from 31,729 last quarter. Also, Chairman Marc Benioff sold 30,000 shares of the company's stock in a transaction dated Monday, August 7th. In a report released today, Drexel Hamilton analyst Brian White reiterated a Buy rating on CRM, with a price target of $111, which implies an upside of 19% from current levels. Walleye Trading Lc accumulated 1,434 shares or 0% of the stock.
Retirement Systems Of Alabama decreased Salesforce Com Inc (CRM) stake by 3.13% reported in 2016Q4 SEC filing.
08/21/2017 - Salesforce.com Inc had its "outperform" rating reiterated by analysts at BMO Capital Markets. Its Customer Success Platform offers a comprehensive portfolio of services, such as sales force automation, customer service and support, marketing automation, digital commerce, community management, analytics, application development, IoT integration, collaborative productivity tools and professional cloud services. Louisiana State Employees Retirement invested 0.14% in salesforce.com, inc.
Earnings per share (adjusted) - $0.33 per share. Capital Analysts LLC increased its position in Salesforce.com by 14.1% in the second quarter.