Salesforce Boosts Earnings Guidance, Exceeding Consensus Estimates
Salesforce (NYSE:CRM) has updated its FY 2027 earnings guidance, exceeding consensus estimates. The company now expects $16.670 to $16.710 in earnings per share for the period, surpassing the estimated $13.360. Additionally, Salesforce forecasts revenue of $46.1 billion to $46.4 billion, matching the projected figure. This update follows a previous Q3 2027 guidance revision, with expected earnings per share ranging from $3.420 to $3.440.
The stock price increased by $0.32 during mid-day trading on Wednesday, reaching $206.01. With an average volume of 13,605,874 shares and a current market capitalization of $168.72 billion, Salesforce has a P/E ratio of 23.84 and a beta of 1.16.
Analysts have expressed varied opinions about the company's performance. Some, like TD Cowen, maintain a 'buy' rating with no price target change. Others, such as Wolfe Research, downgraded their rating from 'outperform' to 'hold.'