Salesforce shares rise on earnings beat

  • 📰 CNBC
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 72%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Salesforce's earnings report follows a slide in the company's stock price since April, though some analysts say the selloff is overdone.

, the company's philanthropic arm. Salesforce previously said it was expecting that deal to contribute around $150 to $200 million in revenue for its 2020 fiscal year.

While Salesforce shares are up close to 9% for the year, as of Tuesday's close, the stock is well off its high from April. Wedbush Securities analysts led by Steve Koenig wrote in a note to clients last week that negativity around Salesforce, followingreport, seemed overblown. Their channel checks suggested the core Sales Cloud product for managing sales leads had not seen a slowdown and that major deals were in the pipeline.

However, the company appears to have lost some business to Microsoft among small and medium-sized companies, said the Wedbush analysts, who recommend buying the stock. Still, global technology integrators have said they're not seeing Microsoft "gaining ground competitively," the Wedbush report said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Many of us think that crypto exchanges are secured and protected, Think again and look at the past few years. Do not make the same mistake, Get a New Ledger Nano X now. It is the most secured device ever made.

Canada Canada Latest News, Canada Canada Headlines