Salesforce.com Inc. (NYSE:CRM) ended trading on Tuesday at $207.42, marking a slight decline of 0.02%. This performance contrasted with the gains seen in the S&P 500, which rose by 0.18%, the Dow Jones Industrial Average's 0.1% increase, and the Nasdaq Composite's 0.3% uptick.
In terms of monthly performance, CRM's gain of 0.05% trailed both the Computer and Technology sector's growth of 3.65% and the S&P 500's rise of 3.08%.
Despite these recent market dynamics, Salesforce.com Inc.'s upcoming earnings report projects promising growth. The company anticipates an earnings per share (EPS) of $2.06 for the quarter, a significant increase of 47.14% from the same quarter last year. Revenue is projected to reach $8.71 billion, marking an 11.08% increase from the previous year.
The full-year earnings forecast for Salesforce.com Inc. also signals robust growth. The company expects an EPS of $8.06 and revenue of $34.75 billion, indicating increases of 53.82% and 10.84%, respectively.
InvestingPro Insights
To provide a deeper understanding of Salesforce.com Inc.'s (NYSE:CRM) financial outlook, we turn to InvestingPro's real-time data and insightful tips.
InvestingPro Data reveals that CRM has a market capitalization of $201.86 billion and a P/E ratio of 129.11, indicating a strong position in the market. The company has shown a promising revenue growth of 12.79% in the last twelve months as of Q2 2024, reaching $33.07 billion. Furthermore, the company's gross profit margin stands at 74.52%.
InvestingPro Tips highlight that CRM has a high earnings quality, with free cash flow exceeding net income. This suggests that the company is generating more cash than is required to run the business and reinvest for growth. Another key point is that the management has been aggressively buying back shares, which can be seen as a sign of confidence in the company's future performance.
In addition, the company is expected to be profitable this year, as per the analyst predictions. This aligns with the company's own projections of robust growth in their upcoming earnings report.
Lastly, InvestingPro offers many more valuable tips for investors interested in CRM. These tips can provide a more comprehensive understanding of the company's financial health and growth potential.
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