What's Going On With Salesforce Shares Thursday?
Portfolio Pulse from Dylan Berman
Salesforce shares remain stable after reporting strong Q2 results, surpassing EPS and sales estimates. The company also provided optimistic guidance for Q3 and FY 2025. Despite the CFO's resignation, analysts have raised their price targets.
August 29, 2024 | 5:58 pm
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Salesforce reported better-than-expected Q2 results with an 8% YoY sales increase and record operating margins. Despite the CFO's resignation, the company issued strong guidance for Q3 and FY 2025, leading analysts to raise price targets.
Salesforce's strong Q2 performance and optimistic guidance for future quarters are positive indicators for the stock. The resignation of the CFO is a potential concern, but the transition plan and continued advisory role mitigate immediate risks. Analyst upgrades further support a positive short-term outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100