Salesforce (CRM) Gaining Momentum on Strong Q1 Results

Shares of, Inc. (CRM – Analyst Report) have been on the rise ever since the company reported its first-quarter fiscal 2017 results on May 18. The stock has gained nearly 8% since the announcement and eventually touched a new 52-week high of $84.48 on May 26. Salesforce started fiscal 2017 on a strong note with better-than-expected top-line results, which also registered a significant year-over-year improvement. Revenues were primarily driven by growth across all its business segments and the Salesforce ExactTarget Marketing Cloud platform. Moreover, bottom-line results increased substantially from the year-ago quarter and matched the Zacks Consensus Estimate. Subsequently, the company provided an optimistic second-quarter outlook and raised the fiscal 2017 guidance. A higher number of deal wins and geographical contributions were particularly encouraging. We consider the rapid adoption…

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