Top Enterprise Software Stocks To Watch Ahead Of Earnings: Salesforce.com
Salesforce (CRM Stock Report) is the global leader in the customer relationship management industry. It brings companies and customers together through the Customer 360 platform. According to research firm IDC, Salesforce dominated the CRM market with a market share of 18.4% during 2019. That’s way ahead of its major rivals, SAP (SAP Stock Report) and Oracle (ORCL Stock Report), with 5.3% and 5.2% respectively.
Salesforce is reporting earnings after the market closes on Tuesday. Analysts expect the company to report sales of $4.9 billion and net income of $614.7 million, the latter equivalent to an EPS of 67 cents. In the same period last year, the company made 66 cents a share. Net income was $392 million on sales of $4 billion. CRM stocks have risen 17.3% since then.
Salesforce.com has achieved quite an impressive feat to overcome the plunge from the coronavirus-induced market crash earlier this year. Now that CRM stock is higher than its pre-pandemic levels, can we expect CRM stock to continue its rally ahead of its earnings tomorrow?
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