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The Key Takeaways
- Wall Street expects revenue and profits to increase year-overyear. Salesforce will report its third quarter earnings on Tuesday after the bell.
- Most analysts tracked by Visible Alpha have a "buy" or equivalent rating for the stock ahead of the results.
- Analysts say that the firm could benefit from the increasing demand for AI.
After the close of the markets on Tuesday, Salesforce (CRM), a cloud-software company, is scheduled to release its third-quarter results. The analysts are generally bullish about the cloud software firm’s stock.
Visible Alpha tracks 24 analyst covering stocks. 19 of them have Visible Alpha. “buy” Or equivalent to five “hold” ratings. Ratings.
Wall Street is expecting Salesforce to report third-quarter revenues of $9.35 Billion, an increase of 7% year over year, as well as a net profit of $1.41 Billion or $1.45 Per Share, up from the $1.22 Billion or $1.25 Per Share a year earlier.
As AI grows in demand, Salesforce is set to gain from this.
Morgan Stanley is a company that holds shares in a number of companies, including Morgan Stanley. “buy” rating and $330 price target, said "investor interest around software companies positioned to benefit from GenAI has increased—where Salesforce's Agentforce platform appears well positioned.”
Salesforce's stock price has gained roughly 30% since the company’s Dreamforce event in September and the unveiling of its Agentforce suite of autonomous AI agents. Jefferies analysts, who maintained a "buy" rating and price target of $400, said partner checks suggested "the demand environment has improved" following the event, with 71% of those surveyed reporting more customer interest in AI, “showcasing optimism in the ecosystem.”
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