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Salesforce | $CRM Stock | The “Force” Was In The Earnings Report

Date: Tuesday, November 22, 2016 11:23 AM EDT

Salesforce.com, inc. (NYSE: CRM)

Salesforce.com, the behemoth leader in cloud-based computing reported third-quarter earnings and revenue used below away analyst. Revenues were up a  huge 25%  to $2.14 billion analysts had only expected revenue of $2.1 billion.

Shares closed the regular session at $75.19 which was up $1.88. However in after-market trading after earnings were released - shares rose a whopping 5.5% to $79.33 or $4.14.  Shares have traded in a 52-week range from $52.60 Just Tires $84.

Action in the after market trading suggests that the upper range and possible 52-week highs will be tested. Many eyes I will be watching how that area holds up ($84.48).


Noteworthy Analyst And CEO Comments

"Our checks indicate that Salesforce still has a number of very good secular growth drivers, including selling some of their newer cloud offerings and upselling activity into large customers is robust," said Wedbush Securities analyst Steve Koenig.

"We expect to deliver our first $10 billion-year during our fiscal year 2018," Chief Executive Officer Marc Benioff said in a statement.

Benioff, who has grown increasingly active in politics and civic affairs in San Francisco, is also eager to make Salesforce a more prominent brand in the minds of consumer.-Reuters

“Salesforce delivered an exceptional quarter with year-over-year revenue growth of 25% in dollars and 27% in constant currency", said Salesforce CEO Marc Benioff.-Zacks

"I'll tell you that I really think that in my core, I'll get back to my comment about that balanced portfolio," Benioff said. "We have an integrated platform. And that integrated platform is exciting, not only is it the number one sales cloud in the world…. But it has all these other capabilities: Mobility, AI, analytics, and so forth. And so I think that, when I look at the most incredible things our customers have done, they weave these things together in really smart and creative ways." Cnbc.com

"I think it's a combination of relief after last quarter, and strong growth delivered," Crawford Del Prete, chief research officer at IDC, said of the stock move. "I think coming into the quarter the question was, 'For the large cap tech companies, if [Salesforce.com] can't grow, who can?' This decidedly answers that question." Cnbc.com


The Daily Price Chart


In the chart above you will notice a red trendline of resistance and a green trendline of support. Above the red line you will see where shares will likely open for trading on Friday, exemplified by the green oval area. Shares were much higher in after-market trading once their earnings were announced. This is a classical break out from what's called a” triangle or wedge”  pattern. These type of moves tend to stay in progress for weeks and months to come.


Company Profile

salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company's Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services. The Company delivers its solutions as a service through all the Internet browsers and on mobile devices. It sells to businesses of all sizes and in a range of industries across the world on a subscription basis, primarily through its direct sales and also indirectly through partners. Its service offerings include Sales Cloud, Service Cloud, Marketing Cloud, Community Cloud, Analytics Cloud, IoT Cloud and App Cloud. It also offers professional services to facilitate the adoption of its solutions. -GoogleFinance

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Dale DeRoy 7 years ago Member's comment

I'm bullish on $CRM.