Salesforce.com (CRM) reported an earnings beat for its 1st quarter, ending 4/30/2023. Earnings per share came in at $1.69, versus the expected $1.61.
The reported revenue of $8.25 billion represents a decrease of -1.63% compared to the previous quarter, and growth of 11.28% compared to the same period last year.
For the 2nd quarter, analysts project earnings of $1.74 per share.
Often, earnings announcements affect a stock’s price. See a history of earnings-related price changes for CRM stock.
What’s Next for Salesforce.com, Post-Earnings?
According to TipRanks, the average analyst consensus on CRM stock is a Moderate Buy. This consensus is based on 33 analyst ratings made in the past 3 months. Salesforce.com’s average price target of $227.43 implies upside potential of 1.81% from current levels.
See our Earnings Calendar for a full list of this week’s earnings releases.
Bottom Line
An earnings beat can signify positive movement ahead for a stock’s price. Currently, CRM price is $223.38, indicating a 5-day rise of 3.69%.
About Salesforce.com
salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform. The firm also provides guidance, support, training, and advisory services. The company was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.
Learn more about CRM financials here
