Salesforce Stock Is Surging Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Salesforce Inc (NYSE:CRM) stock surged following its Q3 financial results, which met revenue estimates and exceeded EPS expectations. The company reported significant year-over-year growth in revenue, cash flow, and free cash flow, along with a strong operating margin. CEO Marc Benioff highlighted Salesforce's position in enterprise software, AI CRM, and enterprise apps. The company provided Q4 and full-year guidance that surpassed analyst estimates. Analysts from Piper Sandler, Needham, and BofA Securities raised their price targets for CRM stock.
November 30, 2023 | 1:31 pm
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Salesforce's Q3 results showed strong performance with revenue and EPS beating estimates, and the company provided optimistic guidance for Q4 and the full year. Analysts have raised price targets, reflecting confidence in the stock.
The positive Q3 results and higher guidance indicate strong performance and future growth potential for Salesforce, which is likely to instill investor confidence and drive the stock price up in the short term. The raised price targets by analysts further support this positive outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100