Salesforce stock trended lower the day before earnings. Q2 earnings will be released in Wednesday's post-market. There is some uncertainty about guidance in the second half of the year. Nvidia earnings on Wednesday are holding back the market in the first half of the week. Salesforce stock pulled back 0.4% on Tuesday, a day before the customer management software maker is set to deliver second-quarter earnings.
Citi was out with a client note arguing that the company led by Marc Benioff would easily meet the quarter’s consensus but that the share price could suffer from a poor outlook in the back half of the year. Citi analyst Tyler Radke said that the comparisons would be difficult in coming quarters due to Salesforce’s megadeal with Amazon Web Services to sell its products on the latter’s cloud marketplace, which closed in November 2023.