Salesforce.com, Inc. (NYSE:CRM) shares are up 2.8% Wednesday ahead of the company's earnings report coming after the closing bell.
The cloud software company will look to top earnings expectations as it has each of the last four quarters.
Analysts at Jefferies believe Salesforce is positioned to do exactly that, thanks in part to a low bar. The software company is expected to report earnings of $2.06 per share on revenue of $8.72 billion.
“Our CRM survey indicates a modest improvement in demand,” the analysts wrote. “Our checks indicate manufacturing and tech verticals are rebounding. Expectations are low due to concerns around F4Q [current revenue performance obligation] guide.”
Investors will be watching for updates on Salesforce’s integration of Slack after its acquisition, as well as for clues about how new CEO Denise Dresser has improved the company’s execution, the analysts noted.
Jefferies maintained its Buy rating and $275 price target for the stock.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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