Salesforce's Earnings Beat Expectations, Outlook Raised
Analysts Optimistic About Future Growth Prospects
Company Reports Strong Sales and EPS Growth
Salesforce Inc. (CRM) reported strong financial results for its fiscal first quarter, beating analyst expectations on both earnings per share (EPS) and revenue.
The company reported EPS of $1.21, above the consensus estimate of $1.19. Revenue came in at $7.83 billion, beating the consensus estimate of $7.81 billion. Sales and EPS both grew by over 20% year-over-year.
Salesforce also raised its outlook for the full year. The company now expects EPS of about $1.20 to $1.21 for this quarter and sales of $7.82 billion to $7.83 billion.
Analysts are optimistic about Salesforce's future growth prospects. The 42 analysts offering 12-month price forecasts for Salesforce Inc have a median target of $243.50 with a high estimate of $325.00.
Based on the research reports of 37 Wall Street equities research analysts, the average twelve-month stock price forecast for Salesforce is $255.00.
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