Stocks came into the holiday shortened weak on a hot streak. Both the S&P 500 and Nasdaq Composite have notched five consecutive weeks of gains, putting May on pace to be the best month of 2024. Although Tuesday was relatively quiet, with the Nasdaq gaining 0.6%. Meantime, the S&P 500 was flat on the day but is still up over 5% this month and 11% for the year.
Salesforce Salesforce .com is scheduled to report earnings after Wednesday's close. The stock hit a record high near $318.71/share in 2024 and, before Wednesday's open, it was trading near $269.
Analysts predict the enterprise software company will show revenue growth of about 11%.
Salesforce (CRM) is set to report earnings for the first quarter of its 2025 fiscal year after the bell on Wednesday, with investors likely to be watching for growth in the company's data cloud segment and any updates related to artificial intelligence (AI).
After Salesforce (CRM) reported fourth-quarter results for the 2024 fiscal year, company executives discussed the company's position to provide data to train enterprise artificial intelligence (AI) models, data cloud growth amid AI demand, how AI is yet to boost the company's bottom line, and its first dividend.
Salesforce (NYSE: CRM) stock price will be in the spotlight this week after the Dow Jones company publishes its financial results. These numbers will come at a time when the shares have moved into a deep correction as they plunged by over 14% from their highest point this year.
Salesforce Inc (NYSE:CRM, ETR:FOO) is expected to report more than a 10% year-over-year jump in revenue for the first quarter as the firm benefitted from demand for its AI-powered cloud solutions despite reduced software spending by small and medium-sized enterprises amid the challenging macroeconomic environment. The company will hand down its first quarter fiscal 2025 financial results after the stock market closes on Wednesday, May 29.
Salesforce's (CRM) Q1 performance is likely to have benefited from the increased demand for its solutions as enterprises are continuing with cloud migration and digital transformation initiatives despite the current macroeconomic headwinds.
Markets will be closed on Monday for Memorial Day. The highlight of the week will come Friday when the BEA releases the Fed's preferred inflation gauge.
Tech stocks to watch in the stock market right now.
Salesforce's (CRM) expanding portfolio, client base, acquisitions and partnerships are key upsides. However, it will be prudent for investors to wait for a better entry time, considering a stretched valuation and near-term headwinds from macroeconomic uncertainties.
Salesforce.com (CRM) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.