BUZZ-PREVIEW: Salesforce rises ahead of results, AI in focus
Salesforce.com, inc. CRM | 0.00 |
** Salesforce CRM.N shares advancing 0.4% on Weds ahead of qtrly results due after the bell, as investors look for signs of AI traction
** The cloud software provider is expected to post qtrly rev up 12% to $11.05 bln and adjusted EPS of $3.12 vs $2.58 yr-ago, per LSEG
** Last qtr, the co forecast fiscal 2027 rev below estimates, showing demand for business software remained under pressure from economic uncertainty
** Stock has sunk about 32% YTD, underperforming the S&P 500's .SPX ~10% rise
** CRM recently traded at 13x expected earnings, well below its five-year avg forward PE of 30, per LSEG data
** Activist investor Starboard Value dissolved its stake in the co during the qtr ended March 31, per a May filing
