What's Going On With Salesforce Stock Today?
Portfolio Pulse from Adam Eckert
Salesforce Inc (CRM) reported Q4 results surpassing estimates with revenues of $9.29 billion and EPS of $2.29. The company announced its first-ever cash dividend and increased its share repurchase program by $10 billion. Analysts have raised price targets, contributing to a rebound in the stock price after an initial drop. Salesforce projects strong future earnings and revenue, positioning itself to capitalize on increased tech spending.
February 29, 2024 | 2:12 pm
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Salesforce reported higher-than-expected Q4 earnings and revenue, announced its first cash dividend, and increased its share repurchase program. Analysts have raised their price targets, positively impacting the stock.
Salesforce's Q4 earnings beat, dividend announcement, and increased buyback program signal strong financial health and growth prospects, leading to positive analyst revisions. These factors typically drive investor confidence and can lead to a short-term increase in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100