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May 13, 2014
07:48 checks suggest strong start to year, says Stephens
Stephens said its checks suggest has had a strong start to its fiscal year and the firm expects the company's results to beat consensus expectations next week. However, Stephens lowered its price target on Salesforce to $65 from $75 citing multiple compression in the cloud space. Stephens maintains its Overweight rating on the stock.
News For CRM From The Last 14 Days
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November 18, 2015
19:15 EDTCRMOn The Fly: After Hours Movers
UP AFTER EARNINGS: Keurig Green Mountain (GMCR), up 16.3%... (CRM), up 5.2%... SINA (SINA), up 2.3%... NetApp (NTAP), up marginally. ALSO HIGHER: KaloBios (KBIO), up 721.3% after the disclosure of purchases by Martin Shkreli and Anthion Partners... Vitae Pharmaceuticals (VTAE), up 23.3% after reporting top-line results from its Phase 1 trial of VTP-43742... DOWN AFTER EARNINGS: Semtech (SMTC), down 8.5% after reporting quarterly results. ALSO LOWER: Sunedison (SUNE), down 10.8% after Reuters reports that Blackstone is not interested in SunEdison investment.
16:22 EDTCRMSalesforce raises FY16 adjusted EPS view to 74c-75c from 70c-72c
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16:13 EDTCRMSalesforce reports Q3 subscription, support revenues up 24% to $1.6B
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16:11 EDTCRMSalesforce reports Q3 deferred revenue up 28% to $2.85B
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16:09 EDTCRMSalesforce sees FY17 revenue $8B-$8.1B, consensus $7.99B
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16:08 EDTCRMSalesforce sees FY16 adjusted EPS 74c-75c, consensus 73c
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16:07 EDTCRMSalesforce sees Q4 adjusted EPS 18c-19c, consensus 19c
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16:06 EDTCRMSalesforce reports Q3 adjusted EPS 21c, consensus 19c
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14:49 EDTCRMEarnings Watch: Salesforce shares up 14% since last earnings report
Salesforce (CRM) is scheduled to report third quarter results after the market close on Wednesday, November 18, with a conference call scheduled for 5:00 pm ET. Salesforce is a provider of enterprise cloud computing solutions that include apps and platform services. EXPECTATIONS: Analysts are looking for earnings per share of 19c on revenue of $1.7B, according to First Call. The consensus range for EPS is 17c-20c on revenue of $1.68B-$1.72B. On its last earnings conference call, Salesforce gave Q3 EPS guidance of 18c-19c and revenue guidance of $1.69B-$1.7B. It also gave FY16 EPS guidance of 70c-72c and FY16 revenue of $6.6B-$6.63B. The company expects FY16 operating cash flow growth of approximately 34%-35%. Salesforce said it is now on pace to reach $7B run rate later this year. LAST QUARTER: On August 20, Salesforce reported second quarter EPS of 19c, beating the consensus analyst forecast of 18c. The company's revenue came in at $1.63B, topping the consensus estimate of $1.60B. It reported deferred revenue on balance of $3.03B as of July 31 and Q2 subscription and support revenue of $1.52B. Salesforce added that Q2 was the "best quarter ever" for the company due to momentum in Europe and growth in the adoption of its core platform. NEWS: Salesforce and Western Union (WU) announced an agreement for Western Union to use Sales Cloud, Community Cloud, Analytics Cloud and App Cloud to automate previously paper-based processes. Salesforce also announced plans to extend its strategic partnership with Microsoft (MSFT). The company said it would double its workforce in the Seattle area. STREET RESEARCH: Brean Capital said Salesforce should be a core holding due its new cloud targets, operating margin expansion and revenue growth in the 20%-30% range year over year. Jeffries said it was impressed with the company's DreamForce conference, but kept an Underperform rating on the stock because the net present value of new business may be negative for Salesforce at this time. In late September, Oppenheimer said that the company's checks were positive. It added that Salesforce's share of the market could be increasing and adds that Salesforce's platform strategy is becoming more popular with customers. PRICE ACTION: Salesforce shares are up over 14% since the company's Q2 report. In afternoon trading ahead of Thursday's report, Salesforce shares are up fractionally.
14:38 EDTCRMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Salesforce (CRM), consensus 19c... L Brands (LB), consensus 52c... (CTRP), consensus 9c... NetApp (NTAP), consensus 57c... Keurig Green Mountain (GMCR), consensus 71c.
14:23 EDTCRMSalesforce technical comments ahead of earnings
The stock is trading relatively close to lifetime highs ahead of earnings. The trend has been strongly bullish since January 2012, with price having recently tested near the $80 area, the life high is at $79.82. If the news is a positive surprise, a breakout above the $80 area seems probable, opening up a run to the $85 level. If the news is a bearish disappointment, there is significant support at the $75 area. If that breaks, next support below would be at $73.08 and then at $71.05.
13:47 EDTCRMSalesforce November 77 straddle priced for 7% movement into Q3
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08:16 EDTCRMSalesforce volatility increases into Q3 and outlook
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05:37 EDTCRMStocks with implied volatility above IV index mean; CRM BBY
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November 17, 2015
15:43 EDTCRMStutz leaving Microsoft to join Salesforce, Re/code reports
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05:24 EDTCRMStocks with implied volatility above IV index mean; CRM HD
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November 16, 2015
05:30 EDTCRMStocks with implied volatility above IV index mean; ODP CRM
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November 13, 2015
08:37 EDTCRMSalesforce volatility elevated into Q3 and outlook
Salesforce November call option implied volatility is at 74, December is at 45, January is at 40; compared to its 52-week range of 27 to 60, suggesting large near term price movement into the expected release of Q3 results on November 18.
05:24 EDTCRMStocks with implied volatility above IV index mean; ODP CRM
Stocks with implied volatility above IV index mean; Office Depot (ODP) 108, Salesforce (CRM) 48 according to iVolatility.
November 11, 2015
11:57 EDTCRMStocks with call strike movement; CRM HAL
Salesforce (CRM) February 90 call option implied volatility increased 3% to 34, Halliburton (HAL) March 42 call option implied volatility increased 1% to 34 according to iVolatility.
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