All articles tagged with #cloud software
Veeva Systems experienced its best first quarter ever, surpassing earnings and revenue expectations, leading to an 18% stock surge and a breakout above key buy points, with strong full-year outlooks and a passing of the $3 billion revenue milestone, positioning it as a top-performing stock in the tech and healthcare sectors.
Workday shares surged nearly 10% after it was announced that the cloud software company will be added to the S&P 500 index, replacing Amentum Holdings on December 23. This inclusion follows Workday's recent profitability, with $193 million in net income on $2.16 billion in quarterly revenue. The company's stock is expected to rise as fund managers adjust their portfolios to reflect the index change.
Salesforce's stock plummeted 20% after disappointing fiscal first-quarter results and projections of slowing sales growth, marking its worst day since 2004. Analysts express concerns that Salesforce may resort to large acquisitions to spur growth, despite the company's cautious stance on such deals. The cloud software giant's past acquisitions include Slack, Tableau, and MuleSoft, and it recently acquired Spiff for $419 million. Investors are wary of Salesforce buying revenue growth and prefer strategic acquisitions closely aligned with its core business.
Salesforce shares plummeted 20% on Thursday, marking their worst day since 2004, after the company reported fiscal first-quarter results that missed Wall Street's revenue estimates for the first time since 2006 and provided lighter-than-expected guidance. Analysts cited broader macroeconomic challenges and execution issues as factors, with some maintaining a cautious outlook while others remain optimistic about future growth driven by generative AI and easing interest rates.
Salesforce shares dropped 16% after the company reported its first revenue miss since 2006, with earnings and revenue falling short of Wall Street expectations. Despite an 11% year-over-year revenue increase, budget scrutiny and longer deal cycles impacted performance. Salesforce's guidance for the next quarter also trailed analyst predictions, contributing to the stock's decline.
Workday's stock plummeted after the company reduced its full-year subscription revenue forecast, despite reporting a first-quarter earnings beat. The decline in Workday's shares has impacted other workplace software stocks, highlighting broader industry challenges. Investors are now looking to Salesforce's upcoming results for further insights into the sector's performance.
Salesforce shares dropped 7% after reports emerged that the company is in advanced talks to acquire data-management firm Informatica, causing Informatica's shares to fall 6%. With a market cap of over $10 billion, Informatica would be Salesforce's largest purchase since acquiring Slack for nearly $28 billion in 2021. The potential deal's price is reportedly below Informatica's closing stock price on Friday, and if finalized, it would mark Salesforce's largest acquisition since purchasing Slack. Salesforce declined to comment on the reports, and Informatica did not respond to requests for comment.
Salesforce reported strong fourth-quarter earnings and revenue, surpassing expectations and announcing plans to pay a quarterly dividend of $0.40 per share. The company's CEO, Marc Benioff, highlighted their long-term strategies, including cost-cutting, margin expansion, shareholder-friendly actions like a new buyback and dividend, and a focus on innovation in AI. Despite some weaknesses in consumer-related products, the market responded positively to Salesforce's transformation and future outlook.
Palantir's stock surged after its Q4 earnings report, with revenue up 20% and adjusted net income up 98%. While the company's revenue growth is accelerating and margins are expanding, its stock remains below its all-time high. However, with a forward earnings multiple of 63 and 2024 sales multiple of 18, it may be overvalued compared to competitors like Alteryx and Salesforce. Despite stabilizing growth and expanding margins, it may not be the right time to buy Palantir stock.
Salesforce's strong fiscal 2024 third quarter results, which demonstrated a successful combination of sales growth and improved margins, have been well received by Wall Street.
CNBC's Jim Cramer believes that the recent rally in tech stocks, exemplified by enterprise software company Datadog's strong performance, is not over. Datadog's stock surged nearly 30% after beating earnings estimates and raising its full-year guidance. Cramer suggests that the success of Datadog is positive news for peer stocks like MongoDB and Snowflake, as well as known partners like Meta, Shopify, and ServiceNow. The company's CEO indicated that clients' optimization efforts may be moderating, which could benefit other tech and enterprise software companies. Cramer sees the recent market gains as a transformational moment and advises investors to adjust to the new reality or risk being left behind.
Datadog reported strong earnings and revenue for the September quarter, surpassing expectations and causing its stock to surge by 25.5%. The enterprise software maker's earnings per share rose by 95% compared to the previous year, while revenue increased by 25%. For the current quarter, Datadog provided an optimistic outlook, with profit and revenue forecasts exceeding Wall Street estimates. Other cloud software stocks, including Snowflake and MongoDB, also experienced gains following the news.
Datadog shares fell after Bank of America downgraded the company, citing downside revenue risk and conservative demand based on recent checks. The analyst noted increased competition and a perception of Datadog as a premium offering, which could lead to customers choosing lower-cost alternatives. The analyst also lowered revenue estimates for 2024 and 2025. Despite the downgrade, other analysts and Seeking Alpha authors maintain a bullish outlook on Datadog.
Brad Gerstner, CEO of Altimeter Capital, predicts that artificial intelligence (AI) will surpass the internet, mobile, and cloud software in terms of impact. He compares the rise of AI to the dotcom boom of the late 1990s, acknowledging that there may be conflicting sentiments and uncertainties in the beginning. However, Gerstner remains optimistic about the next few years, citing the Federal Reserve's nearing end of its tightening cycle and a promising IPO pipeline. Altimeter's top bets include Meta, Microsoft, and Nvidia.
Salesforce shares surged 6% in after-hours trading after the company reported better-than-expected earnings and revenue for the fiscal second quarter. The cloud software company's revenue increased by 11% from the previous year, with net income rising significantly. Salesforce also raised its full-year forecast, expecting 11% revenue growth. The company highlighted its focus on artificial intelligence and announced AI enhancements to its Sales Cloud and Service Cloud applications, as well as the launch of an AI Cloud for marketing and data analysis. Salesforce shares have risen 62% this year.