Open live CFD account Try free demo
Call: 1800 885 571 Mail: support@gomarkets.com
Login Open account
Login Open account
Login Open account
News & analysis
Try free demo Open account
News & analysis
Try free demo Open account

Salesforce tops Q3 estimates, Co-CEO steps down

2 December 2022 By Klavs Valters

Share

The world’s leading customer relationship management company Salesforce Inc. (NYSE: CRM) announced its latest financial results after the market close in the US on Wednesday.

The company beat both revenue and earnings per share (EPS) estimates.

Revenue reported at $7.84 billion (up by 14% year-over-year) vs. $7.827 billion expected.

EPS reported at $1.40 per share vs. $1.217 per share estimate.

”We had a solid quarter with revenue of $7.84 billion, up 14% year-over-year or 19% growth in constant currency, and record operating margin,” Marc Benioff, Chair & Co-CEO of the company said in a press release.

”We’re grateful to our customers for their commitment, especially as we help them succeed in this challenging environment. There’s never been a more important time for our customers to connect with their customers in a whole new way,” Benioff added.

Salesforce also announced a departure of company Co-CEO, Bret Taylor.

”I am grateful for six fantastic years at Salesforce,” Taylor said in a statement on the company’s website.

”Marc was my mentor well before I joined Salesforce and the opportunity to partner with him to lead the most important software company in the world is career-defining. After a lot of reflection, I’ve decided to return to my entrepreneurial roots. Salesforce has never been more relevant to customers, and with its best-in-class management team and the company executing on all cylinders, now is the right time for me to step away,” Taylor concluded.

Taylor is set to leave his position on January 31, 2023.

 

The stock was down by around 9% on Thursday, trading at $144.33.

Stock performance

  • 1 Month: -1.86%
  • 3 Month: -6.46%
  • Year-to-date: -43.49%
  • 1 Year: -45.02%

Salesforce price targets

  • Jefferies: $230
  • B of A Securities: $200
  • Canaccord Genuity: $180
  • Truist Securities: $210
  • Cowen & Co.: $195
  • Wedbush: $200
  • Deutsche Bank: $200
  • Barclays: $180
  • Morgan Stanley: $250
  • BMO Capital: $172
  • JP Morgan: $200

Salesforce Inc. is the 78th largest company in the world with a market cap of $143.57 billion.

You can trade Salesforce Inc. (NYSE: CRM) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: Salesforce Inc., TradingView, MarketWatch, Benzinga, CompaniesMarketCap

Ready to start trading?

Try free demo Open account

The information provided is of general nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information provided, you should consider whether the information is suitable for you and your personal circumstances and if necessary, seek appropriate professional advice. All opinions, conclusions, forecasts or recommendations are reasonably held at the time of compilation but are subject to change without notice. Past performance is not an indication of future performance. Go Markets Pty Ltd, ABN 85 081 864 039, AFSL 254963 is a CFD issuer, and trading carries significant risks and is not suitable for everyone. You do not own or have any interest in the rights to the underlying assets. You should consider the appropriateness by reviewing our TMD, FSG, PDS and other CFD legal documents to ensure you understand the risks before you invest in CFDs. These documents are available here.

#Indice #Indices #IndicesTrading #IndexTrading #Shares #Stockmarket #Stocks