Salesforce's stock plunged 20% after FQ1 earnings and a weak outlook for Q2 revenue growth. Despite missing top-line estimates, Salesforce's free cash flow is surging for which the company didn't get any credit at all. The market overreacted to the revenue forecast, creating an attractive opportunity for long-term investors due to Salesforce's surging free cash flow and expanding FCF margins.
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Salesforce.com (CRM) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
Meta Platforms has the biggest dividend payout. Salesforce's dividend yield is better than Meta's or Alphabet's.
The Dow Jones Industrial Average was pressured lower today by software-as-a-service leader Salesforce (NYSE: CRM).
Investors aggressively sold off shares of enterprise software stocks on Thursday, creating huge losses in some of the sector's most prominent names.
Salesforce continues to see slower top-line growth. Cloud software spending seems to be shifting to AI.
Salesforce (CRM) stock is on course for its worst one-day loss since 2004, hurting the Dow Jones Industrial Average and a batch of exchange-traded funds (ETFs) with meaningful exposure to the company or to the Dow.
Analysts at UBS see disappointing guidance from Software-as-a-Service bellwether Salesforce Inc (NYSE:CRM, ETR:FOO) dashing investor hopes for a recovery in the software sector in the second half of 2024. “A current remaining performance obligations (cRPO) miss, guidance for a big deceleration in the second quarter and a call-out of weakening demand and booking relative to the fourth quarter will likely weigh on software sentiment and confirm fears that the overall spending backdrop year-to-date has weakened,” they wrote.
It's been a chaotic season of earnings for certain technology companies, many of which had their share prices and expectations coming in way too hot ahead of their big reveals. Undoubtedly, the generative artificial intelligence (gen AI) run-up is alive and well, with GPU demand still as scorching as ever.
The software-as-a-service (Saas) industry reeling today after Salesforce (NYSE:CRM) released 1st quarter earnings and confirmed 2024 will be a more difficult year than anticipated.
Salesforce's (CRM) Q1 earnings reflect the benefits of resilient demand for its cloud and software offerings in a challenging macroeconomic environment and cost-restructuring initiatives.