149.34 +0.05 (0.03%)
After hours: 4:11PM EDT
|Bid||149.50 x 900|
|Ask||149.51 x 1000|
|Day's Range||148.59 - 152.97|
|52 Week Range||113.60 - 167.56|
|Beta (3Y Monthly)||1.09|
|PE Ratio (TTM)||101.90|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Software stocks cooled off on Tuesday as losers spanned Salesforce, Adobe, Paycom, ServiceNow and Atlassian. Software stocks have been among the Nasdaq composite's top performers in 2019.
Growing demand for digital transformation is helping salesforce (CRM) expand its partner ecosystem and boost top-line growth.
Shares of Salesforce.com Inc. (CRM) have more than tripled in the last five years and are set to climb even higher. Expecting the cloud-computing solutions company to hit the high end of its forecast in what he describes as a “challenging quarter,” JMP Securities analyst Patrick Walravens recently raised his price target for the stock from $140 to $163, implying a 12% upside from Wednesday’s close. Salesforce reported 27% growth in the same period a year ago following a 16% increase in the period one year previous to that.
Salesforce made a splash weeks ago with its acquisition of Tableau -- now the early reviews are rolling in. largest acquisition to date -- and since then, investors have been parsing out what the acquisition means for Salesforce and its bottom line in the long term. On Monday, Salesforce shares fell 2.7%.
California Gov. Gavin Newsom urged Bay Area business leaders to focus on the advantages of doing business in the Golden State while also promising action on the state's homeless problem that's garnering national headlines.
Business Journal Managing Editor Rob Johnson recaps the week in Seattle business news and looks at the week ahead, including an interview with the CEO of the region's newest unicorn.
It’s still early days in the race to become the Democratic Party’s 2020 presidential nominee, but a few CEOs of S&P 500 companies already have been voting with their wallets.
Salesforce is fresh off a massive acquisition. Unfortunately, investors frowned on the deal.
Shares of Slack Technologies , the ultra-hot workplace collaboration tools vendor, were down Friday morning from their opening price on Thursday, falling below $38 versus the open of $38.50. The stock's mild retreat is partly reflective the day's weaker trading overall, with the Nasdaq Composite Index down fractionally.
The reaction to earnings at Adobe (NASDAQ:ADBE) offered more proof that cloud applications are kings of this stock market.Source: Shutterstock Adobe, which moved its picture and video editors to the cloud early this decade, earned $632 million, $1.30 per share, on revenue of $2.744 billion during the three months ending in May. The earnings were 5 cents short of a year ago, well short of analyst estimates, but revenue was 25% ahead. Guidance was considered soft.But Adobe stock took off anyway, rising almost $17.50 per share over the next 24 hours, opening for trade June 20 at $294 per share. This added about $7 billion to the market cap, which stood at $142 billion. Adobe is up almost 29% in 2019 and over 300% over the last five years.InvestorPlace - Stock Market News, Stock Advice & Trading TipsPretty good for what is, by Silicon Valley standards, a mature company. The Marketing CloudAdobe was founded in 1982 around PostScript, a page description language, and during the rest of the 20th century it grew by acquiring other, related products for pictures and video. By the middle of the 2000s, however, it was languishing.Then CEO Shantanu Narayen committed the company to the cloud.Not only did Adobe find new profits by hosting its software online, but Adobe found new markets. In addition to its Creative Cloud, where you'll find most of its older software, its star product is now its marketing software, called Adobe Experience Cloud, designed to help create, and measure, online and offline marketing efforts. * 10 Monthly Dividend Stocks to Buy to Pay the Bills The result has been what TV analyst Jim Cramer calls the "golden age of creativity," with websites crushing brick-and-mortar retailers. This doesn't just help big retailers, but smaller ones like Rite Aid (NASDAQ:RAD), which is using Adobe to pull data from multiple sources and help pharmacists get treatments right with improved patient compliance.Along the way, Adobe has increasingly collided with Salesforce (NASDAQ:CRM) as both seek to become customers' Data Management Platform of choice for sales and marketing. So far there seems to be plenty of room for both. The losers are stores that don't use these new tools and vendors of older tools like Oracle (NASDAQ:ORCL), which are now being bypassed. Facing FutureHaving creative and marketing applications in the cloud not only improves Adobe's own time to market, it lets all its customers stay on top of the latest trends in Web marketing and the fight against fraud.When Adobe learns how to detect faces that have been edited online, all its customers can too. When its new Apple (NASDAQ:AAPL) iPad software for artists, now called Fresco, is ready for launch, all its customers will get it at once.Narayen's key decision wasn't just to commit to cloud, but to partner with Microsoft (NASDAQ:MSFT) and its Azure cloud. The two companies are increasingly connected, with seamless integration between Adobe's cloud and Microsoft Office applications.This will inevitably lead some to talk of a merger, but don't expect one. Microsoft has learned, from its antitrust experience 20 years ago, not to consume the markets it creates. Close partnerships give it the dominance it craves without the risk of government interference. The Bottom Line on Adobe StockThe rapid rise in Adobe stock has some technicians putting up stop signs on it, but options traders who bet on a move higher were big winners.As cloud applications become the norm, ADBE has a clear field ahead of it. The only thing keeping it off some analyst buy lists is its valuation, well over 10 times sales and 54 times earnings.But in a hot market you don't get a diamond by buying zirconium, and ADBE stock skeptics are falling in line.Dana Blankenhorn is a financial and technology journalist. He is the author of a new environmental story, Bridget O'Flynn and the Bear, available now at the Amazon Kindle store. Write him at firstname.lastname@example.org or follow him on Twitter at @danablankenhorn. As of this writing, he owned shares in MSFT and AAPL. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * The 7 Best Dow Jones Stocks to Buy for the Rest of 2019 * 5 Boring Stocks to Buy This Summer * 7 S&P 500 Stocks to Buy With Little Debt and Lots of Profits Compare Brokers The post Why Adobe Stock Is Still A King Among Cloud Companies appeared first on InvestorPlace.
It's latest earnings report shows the cloud-based software company isn't setting the world on fire, but that’s OK.
Slack Technologies stock is about to list on the New York Stock Exchange with a direct public offering, making it immediately available for trading.
Despite major flops from some of the tech world’s biggest unicorn IPOs this year, including the lackluster performance of ride hailing companies Uber Technologies Inc. (UBER) and Lyft Inc. (LYFT), tech IPOs are up roughly 30% in 2019 on average, per Dealogic.
It’s tough to win love on Wall Street, let alone among your employees. But these Bay Area CEOs managed to gain a high approval rating on Glassdoor’s 2019 Top CEOs Employees’ Choice list.
are both seeing strong momentum for their marketing software businesses. In Adobe's mostly upbeat May quarter earnings report, which has its shares up about 4% in Wednesday trading, the company disclosed that its Digital Experience segment, which includes its marketing/advertising, e-commerce and customer analytics software offerings, saw revenue grow 34% annually to $784 million. Last year's acquisitions of marketing automation software firm Marketo and e-commerce software firm Magento helped, but Adobe indicated on its earnings call that organic growth for various marketing/advertising software products also improved.
On June 18, Facebook (FB) launched Libra, its own cryptocurrency. On the same day, CoinDesk published another piece of blockchain news that didn’t receive as much fanfare as Facebook’s Libra news. Was the timing a coincidence? We think not.
Analysts are estimating an all-time high EPS of $1.07 a share along with sales of $10.95 billion, representing growth of 8% and negative 2.7% respectively. ORCL has dropped on the last 7 consecutive earnings releases even after reporting beats on both top and bottom-lines.
Big tech is under the microscope, now that U.S. regulators investigate whether Amazon (AMZN), Apple (AAPL), Facebook (FB), and Google (GOOG) have too much power. As calls for breaking up these tech titans gain momentum among lawmakers, at least one Silicon Valley insider says “trust” is at the crux of the increased scrutiny. “I think regulators are really responding to a crisis of trust in the tech industry,” Salesforce (CRM) President, Bret Taylor, tells Yahoo Finance’s The First Trade.
Salesforce is giving $1 million in two grants to Chicago Public Schools and i.c.stars, a local workforce development organization focused on diversity.
The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But when you pick a...
Salesforce.com Inc NYSE:CRMView full report here! Summary * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low Bearish sentimentShort interest | PositiveShort interest is extremely low for CRM with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting CRM. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding CRM are favorable, with net inflows of $9.87 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Technology sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Salesforce President and Chief Product Officer Bret Taylor joins Yahoo Finance to discuss what he perceives to be the next phase of the digital revolution, and how Salesforce is already getting ahead with its recent acquisition of Tableau.