Categories Earnings, Earnings Call Transcripts, Technology

Wall Street’s favorite cloud firm Salesforce to report Q1 earnings on June 4

Salesforce (NYSE: CRM) is arguably Wall Street’s favorite cloud company; the stock has seen a staggering 87% growth so far this year. The company is now slated to report first-quarter 2020 earnings results next week and investors are looking at an extended bull run.

The results are scheduled to be announced after the regular trading hours on Tuesday, June 4. Analysts have projected Q1 earnings of 61 cents per share on revenues of $3.68 billion, up 22% year-over-year.   

The street consensus falls within the top end of the forecast made by the management during the last earnings announcement. The San Francisco, California-based company had said that it expects to see quarterly revenues hitting $3.67-3.68 billion, generating GAAP EPS of $0.10-0.11 and non-GAAP EPS of $0.60-0.61.

Salesforce has a good history of beating market estimates; however, the high expectations maintained by investors could backfire if it fails to outperform. During the last-reported quarter, despite beating the estimates on both the top and bottom line, shares fell as investors were unimpressed with the Q1 outlook.  

LISTEN TO: Salesforce Q4 2019 earnings conference call

Since there seems to be no slowing down of demand for its customer-relationship-management software, expect to see increased client base this quarter. Regular product launches and robust expansion in the international markets will continue to impact top line growth for the company. The acquisition of Mulesoft last year should also provide some fillip to the top line in Q1.

During the earnings conference calls, you may expect to hear more about the company’s expansion strategy, which are powered by partnerships with leading tech firms including Alphabet (NASDAQ: GOOGL) and Amazon (NASDAQ: AMZN).   

Even though some market observers feel the stock is overpriced, it continues to have a 12-month average price target that suggests otherwise. The average price target on the stock is $183.50, suggesting an 18% upside from the last close.

Salesforce Q4 2019 earnings infographic

Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Most Popular

Aurora Cannabis (ACB) Earnings: 3Q21 Key Numbers

Aurora Cannabis Inc. (NYSE: ACB) reported third quarter 2021 earnings results today. Total revenues fell 25% year-over-year to CAD55.1 million. Adjusted EBITDA loss amounted to CAD24 million. Cash balance as

Walt Disney (DIS) Q2 revenue down 13%; earnings beat estimates

Media behemoth The Walt Disney Company (NYSE: DIS) reported second-quarter revenues that declined from last year as customers stayed away from theatres and parks due to pandemic-related safety issues and

Three key factors that bode well for Tattooed Chef (TTCF) going forward

Shares of Tattooed Chef Inc. (NASDAQ: TTCF) have gained 57% over the past 12 months but has dropped 25% since the start of this year. The sentiment on the stock

Add Comment
Viewing Highlight