Salesforce Q2 Preview: Analyst Sees Soft Cloud Demand But Highlights Data Cloud's Growing Impact
Portfolio Pulse from Lekha Gupta
Needham analyst Scott Berg anticipates limited upside for Salesforce's Q2 results due to macroeconomic pressures, but highlights the potential of Data Cloud in large deals. Despite soft cloud demand, a Buy rating is maintained with a $345 price target. Salesforce stock has gained over 25% in the past year.
August 26, 2024 | 5:16 pm
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NEUTRAL IMPACT
Salesforce is expected to report limited upside in Q2 due to macroeconomic pressures, but Data Cloud's growing impact in large deals could boost future results. Analyst maintains a Buy rating with a $345 price target.
The analyst expects limited upside for Salesforce in Q2 due to macroeconomic pressures, but highlights the potential of Data Cloud in large deals. The Buy rating and $345 price target suggest confidence in long-term growth, but short-term impact is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The REX FANG & Innovation Equity Premium Income ETF offers exposure to Salesforce, which is expected to have limited upside in Q2. The ETF may experience a neutral impact.
FEPI includes Salesforce, which is expected to have limited upside in Q2. This may result in a neutral impact on the ETF, as Salesforce is a component but not the sole driver of its performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Investors can gain exposure to Salesforce through the iShares Expanded Tech-Software Sector ETF, which may see neutral impact as Salesforce's Q2 results are expected to show limited upside.
IGV includes Salesforce, which is expected to have limited upside in Q2. This may result in a neutral impact on the ETF, as Salesforce is a component but not the sole driver of its performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50