Mizuho Securities Remains Bullish Ahead of Salesforce.com's (CRM) 2Q Release
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Mizuho Securities reiterated a Buy rating and $100.00 price target on salesforce.com (NYSE: CRM) ahead of the company's 2Q earnings report. Mizuho expects revenues of $2.035-2.040bn which is slightly above the high-end of guidance and compares with consensus of $2.019bn. EPS is expected to be in-line to slightly better than the upper end of outlook of $0.21-0.22 (vs. consensus of $0.23). FX is not likely to impact management's outlook with Yen strength offsetting the Pound weakness.
Analyst Abhey Lamba commented, "Salesforce.com reports F2Q17 results on August 29 after market close. Our checks suggest robust pipeline of large deals and continued momentum in the quarter. We expect revenues, billings & CFFO to come in above estimates while EPS could be in-line due to recent acquisition-related costs. For guidance, management could modestly raise its FY17 revenue forecast while reiterating EPS range. We maintain our Buy rating and $100 PT on potential upside to estimates while valuation seems reasonable given FCF growth prospects."
Shares of salesforce.com closed at $81.63 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Weingarten Realty Investors (WRI) Reports In-Line 3Q
- Jefferies Raises Price Target on Texas Instruments (TXN) Following 3Q Report
- Jefferies Raises Price Target on Northrop Grumman (NOC) Following 3Q Beat
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesEarnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!