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Salesforce.com (CRM) Soars 4.0%: Is Further Upside Left in the Stock?
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Salesforce.com (CRM - Free Report) shares rallied 4% in the last trading session to close at $246. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.3% loss over the past four weeks.
The optimism surrounding the stock can be attributed to surging adoption of AI-driven tools like Agentforce and Data Cloud. Strong enterprise demand, expanding government contracts, and rapid customer transition from pilot to production are boosting growth.
This customer-management software developer is expected to post quarterly earnings of $2.85 per share in its upcoming report, which represents a year-over-year change of +18.3%. Revenues are expected to be $10.26 billion, up 8.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Salesforce.com, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CRM going forward to see if this recent jump can turn into more strength down the road.
Salesforce.com is part of the Zacks Computer - Software industry. Synopsys (SNPS - Free Report) , another stock in the same industry, closed the last trading session 1% higher at $440.2. SNPS has returned 2.5% in the past month.
Synopsys' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.79. Compared to the company's year-ago EPS, this represents a change of -17.9%. Synopsys currently boasts a Zacks Rank of #5 (Strong Sell).
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Salesforce.com (CRM) Soars 4.0%: Is Further Upside Left in the Stock?
Salesforce.com (CRM - Free Report) shares rallied 4% in the last trading session to close at $246. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.3% loss over the past four weeks.
The optimism surrounding the stock can be attributed to surging adoption of AI-driven tools like Agentforce and Data Cloud. Strong enterprise demand, expanding government contracts, and rapid customer transition from pilot to production are boosting growth.
This customer-management software developer is expected to post quarterly earnings of $2.85 per share in its upcoming report, which represents a year-over-year change of +18.3%. Revenues are expected to be $10.26 billion, up 8.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Salesforce.com, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CRM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Salesforce.com is part of the Zacks Computer - Software industry. Synopsys (SNPS - Free Report) , another stock in the same industry, closed the last trading session 1% higher at $440.2. SNPS has returned 2.5% in the past month.
Synopsys' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.79. Compared to the company's year-ago EPS, this represents a change of -17.9%. Synopsys currently boasts a Zacks Rank of #5 (Strong Sell).