Salesforce Q1 Earnings Preview: Goldman Sachs Expects Beat On These Metrics
Portfolio Pulse from Priya Nigam
Salesforce Inc (NYSE:CRM) is expected to report its fiscal first-quarter results on May 29, with Goldman Sachs predicting a beat on key metrics. Analyst Kash Rangan maintained a Buy rating with a $345 price target, anticipating revenue growth of 11% year-on-year and non-GAAP earnings of $2.29 per share. Salesforce has also partnered with NTT DATA Group Corp. (OTC:NTDTY) to streamline its application environment.
May 20, 2024 | 3:42 pm
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Salesforce is expected to report Q1 results on May 29, with Goldman Sachs predicting a beat on key metrics. Analyst Kash Rangan maintained a Buy rating with a $345 price target, anticipating revenue growth of 11% year-on-year and non-GAAP earnings of $2.29 per share.
Goldman Sachs' positive outlook and the maintained Buy rating with a high price target suggest strong investor confidence. Expected revenue and earnings beats are likely to drive short-term price appreciation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Salesforce has partnered with NTT DATA Group Corp. to streamline its application environment. This partnership could enhance operational efficiency for both companies.
The partnership with Salesforce could improve NTT DATA's service offerings and operational efficiency, potentially leading to positive market sentiment.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50