Stephens Reiterates Overweight Rating on salesforce.com (CRM)

August 23, 2019 7:07 AM EDT
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Price: $248.25 -0.01%

Rating Summary:
    55 Buy, 10 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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Stephens analyst James Rutherford reiterated an Overweight rating and $184.00 price target on salesforce.com (NYSE: CRM)following the company's 2Q earnings report. Salesforce posted a revenue beat ($3,997 mil. vs. consensus $3,955 mil.), an adj. EPS beat (52c core vs. consensus at 47c), a billings miss (+18% YOY vs. consensus at +19%), and a cRPO beat ($12.1 bil. vs. consensus at $11.8 bil.).

Results should bring a sigh of relief to CRM bulls. Currency was a headwind as expected, but seems that underlying strength more than compensated. Salesforce issued 3Q revenue guidance of $4.44 bil. - $4.45 bil. vs. consensus of $4,181 mil. and adj. EPS guidance of 65c - 66c vs. consensus of 66c.

For an analyst ratings summary and ratings history on salesforce.com click here. For more ratings news on salesforce.com click here.

Shares of salesforce.com closed at $158.50 yesterday.



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