Wall Street Bullish on Salesforce (CRM), Here’s Why

Core Insights - Salesforce, Inc. (NYSE:CRM) is recognized as a strong long-term investment in the technology sector, with Wall Street showing optimism following the company's fiscal second quarter performance [1]. Financial Performance - The company reported a revenue of $10.24 billion, representing a year-over-year increase of 9.77% and exceeding consensus estimates by $98.41 million [2]. - Earnings per share (EPS) reached $2.91, surpassing estimates by $0.13 [2]. - The current remaining performance obligation (cRPO), indicating future revenue under contract, increased by 11% year-over-year to $29.4 billion [2]. - Management forecasts next quarter's revenue to be between $10.24 billion and $10.29 billion, reflecting an anticipated growth of 8% to 9% year-over-year [2]. Analyst Ratings - Analysts have expressed positive sentiments post-earnings release, with Saiyi He from CMB International Securities reiterating a Buy rating and a price target of $388 on September 5 [3]. - Paul Chew from Phillip Securities also maintained a Buy rating with a price target of $364 on September 8 [3]. Business Overview - Salesforce, Inc. specializes in customer relationship management (CRM) technology, integrating AI to enhance sales, service, marketing, and commerce for businesses [3].