Latest news with #CRM
Wall Street Journal
an hour ago
- Business
- Wall Street Journal
Salesforce Raises Full Year Sales Outlook After Quarterly Beat
Salesforce raised its full-year sales outlook after first-quarter earnings and revenue came in ahead of expectations. The customer-relationship management platform on Wednesday posted a profit of $1.54 billion, or $1.59 a share, in the quarter ended April 30, compared with $1.53 billion, or $1.56 a share, a year earlier.
Yahoo
an hour ago
- Business
- Yahoo
Salesforce.com: Fiscal Q1 Earnings Snapshot
SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Inc. (CRM) on Wednesday reported fiscal first-quarter earnings of $1.54 billion. On a per-share basis, the San Francisco-based company said it had net income of $1.59. Earnings, adjusted for one-time gains and costs, were $2.58 per share. The results exceeded Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $2.54 per share. The customer-management software developer posted revenue of $9.83 billion in the period, which also topped Street forecasts. Fourteen analysts surveyed by Zacks expected $9.74 billion. For the current quarter ending in July, expects its per-share earnings to range from $2.76 to $2.78. The company said it expects revenue in the range of $10.11 billion to $10.16 billion for the fiscal second quarter. expects full-year earnings in the range of $11.27 to $11.33 per share, with revenue ranging from $41 billion to $41.3 billion. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on CRM at Sign in to access your portfolio
Yahoo
6 hours ago
- Business
- Yahoo
Salesforce (CRM) Gets $425 Price Target as Analyst Backs Informatica Deal and AI Push
We recently published a list of . In this article, we are going to take a look at where Salesforce, Inc. (NYSE:CRM) stands against other AI stocks gaining Wall Street's attention. One of the most notable analyst calls on Tuesday, May 27, was for Salesforce, Inc. (NYSE:CRM). Wedbush analyst Daniel Ives reiterated an 'Outperform' rating on the stock with a $425.00 price target. Salesforce is a cloud-based CRM company that has gained popularity after it unveiled its AI-powered platform called Agentforce. A customer service team in an office setting using the company's Customer 360 platform to communicate with customers. Wedbush has commented about the recent deal between Salesforce and Informatica, citing that the proposed acquisition of enterprise cloud software company Informatica is the 'right deal at the right time' for Salesforce. 'Despite CRM not pursuing a big deal of this size since Slack in 2021 for $28 billion, we view this deal as a smart and strategic deal for customer acquisition as INFA's strong customer base of over 5,000 customers, including ~2,500 cloud subscription ARR customers and over 80% of the Fortune 100, leverages this technology for analytics and AI-powered processes which could strengthen CRM's AI strategy.' The analysts further noted that the deal would pave the way for more artificial intelligence opportunities for Salesforce, and even more cross-selling opportunities. Overall, CRM ranks 3rd on our list of AI stocks gaining Wall Street's attention. While we acknowledge the potential of CRM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRM and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
Globe and Mail
7 hours ago
- Business
- Globe and Mail
Salesforce (CRM): New Buy Recommendation for This Technology Giant
RBC Capital analyst Rishi Jaluria maintained a Buy rating on Salesforce (CRM – Research Report) today and set a price target of $420.00. The company's shares closed last Friday at $273.13. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Jaluria covers the Technology sector, focusing on stocks such as Microsoft, Clearwater Analytics Holdings, and NICE. According to TipRanks, Jaluria has an average return of -9.7% and a 47.31% success rate on recommended stocks. Currently, the analyst consensus on Salesforce is a Moderate Buy with an average price target of $346.63, representing a 26.91% upside. In a report released today, Goldman Sachs also reiterated a Buy rating on the stock with a $340.00 price target. CRM market cap is currently $262.1B and has a P/E ratio of 42.93. Based on the recent corporate insider activity of 233 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRM in relation to earlier this year. Last month, R DAVID SCHMAIER, the Chief Product & Impact Officer of CRM sold 6,959.00 shares for a total of $1,762,714.70.
Globe and Mail
7 hours ago
- Business
- Globe and Mail
M&A News: Salesforce (CRM) Acquires Informatica for $8B in AI Data Push
Salesforce (CRM) announced on Tuesday that it will acquire cloud data management company Informatica (INFA) in an $8 billion deal, aiming to strengthen its efforts in AI (artificial intelligence). Following the announcement, CRM stock gained 0.68% in pre-market trading, while INFA surged almost 6%. Confident Investing Starts Here: Notably, the acquisition news comes just ahead of Salesforce's fiscal Q1 earnings report, scheduled for May 28. Salesforce Goes Deeper into Data The acquisition of Informatica is a strategic move by Salesforce to expand its data management capabilities as it accelerates its focus on AI-powered solutions. Integrating Informatica will give Salesforce greater control over how enterprise data is structured and utilized. CEO Marc Benioff emphasized that the deal will strengthen Salesforce's foothold in the more than $150 billion enterprise data market. Meanwhile, analysts at Scotiabank noted that the acquisition could help Salesforce close the gap with its rivals, as many large software companies now offer data management tools bundled together with their other products. As a result, Salesforce needed to enhance its data management capabilities to stay competitive and keep up with the trends in the software market. More Details About the Acquisition As part of the agreement, Salesforce is offering $25 per share for Informatica, representing a roughly 30% premium over the stock's closing price on May 22, just before news of renewed talks surfaced. Salesforce announced the acquisition will be funded through a combination of cash on hand and newly issued debt. The company expects to complete the deal early in the next fiscal year, beginning in February and anticipates that the acquisition will improve its operating margin starting from the second year after closing. Turning to Wall Street, analysts have a Moderate Buy consensus rating on CRM stock based on 21 Buys, seven Holds, and two Sells assigned in the past three months. The average CRM price target of $346.63 per share implies a 27% upside potential. Year-to-date, CRM stock has declined by 18.3%. See more CRM analyst ratings
