158.97 +0.21 (0.13%)
After hours: 6:40PM EDT
|Bid||158.46 x 1100|
|Ask||159.00 x 900|
|Day's Range||155.28 - 159.14|
|52 Week Range||113.60 - 166.99|
|Beta (3Y Monthly)||1.05|
|PE Ratio (TTM)||111.02|
|Earnings Date||May 28, 2019 - Jun 3, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||181.63|
As is the case for the debit card, the fact that Venmo works as a social network of sorts -- consumers use it not just to pay other users and businesses, but to share their payment activity with others who can like or comment on it -- could help its credit card gain some traction. Notably, thanks to its popularity with younger U.S. consumers, Venmo's total payment volume (TPV) growth has been much faster than its estimated user growth in recent growth.
SAN FRANCISCO (AP) — San Francisco's renowned waterfront hosts joggers, admiring tourists and towering condos with impressive views. It could also become the site of a new homeless shelter for up to 200 people.
MapAnything Inc., a location-of-things software provider based in Charlotte, announced it will be acquired by San Francisco-based Salesforce.com Inc.
I've met with Zoom Video Communications' (NASDAQ:ZM) CEO and founder Eric Yuan several times. He's soft spoken and humble. He also has a laser focus on his customers (keep in mind that the company's Net Promoter Score (NPS) is over 70, which is exceptional).Source: Shutterstock No doubt, Yuan's efforts have paid off in a big way. Today the company launched its IPO and yes, it's a mega offering. The ZOOM IPO priced 20.9 million shares at $36, which was after there were two increases in the range. In the deal, Salesforce.com (NYSE:CRM) agreed to invest $100 million. ZOOM also has some other notable strategic investors like Atlassian (NASDAQ:TEAM) and Dropbox (NASDAQ:DBX).The valuation? Well, the ZOOM IPO is now at $15.8 billion, with the stock up 75% on its opening. By comparison, the valuation was $1 billion in early 2017.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe ZOOM IPO comes on a day when Pinterest (NYSE:PINS) pulled off its own offering. That company priced 75 million shares at $19 and so far in today's trading, the stock is up 22%.And it's a good bet we'll see more new IPOs come to market in the coming months, such as Uber, Slack and Palantir. Background on the ZOOM IPOAs a college student in China during the 1980s, Yuan wanted to use technology to communicate with his girlfriend (by the way, she is now his wife!) This is why he was so attracted to WebEx, which he jointed as a founding engineer in 1997. He got a quick education on what it's like to be a part of a hyper growth company. * 5 Dividend Stocks Perfect for Retirees But when Cisco (NASDAQ:CSCO) acquired WebEx, things changed -- and not for the better. Yuan provided many ideas to improve the product but there was tepid interest. So in 2011, he left to start Zoom.His obsession was with creating the best product possible. As a result, there was little energy devoted to marketing. In fact, it was not until a few years ago that Zoom put together a marketing team.As of now, Zoom is a full-on platform that allows for rich video, voice, chat and content sharing. It is a native cloud system -- that involves a custom multimedia router -- which has demonstrated much better performance than legacy applications. The goal: to make Zoom meetings better than in-person meetings.Now, a key to the success of Zoom is that it is inherently viral. According to the S-1: "Our rapid adoption is driven by a virtuous cycle of positive user experiences. Individuals typically begin using our platform when a colleague or associate invites them to a Zoom meeting. When attendees experience our platform and realize the benefits, they often become paying customers to unlock additional functionality."This has translated into strong financials. From fiscal 2017 to 2019, revenues soared from $60.8 million to $330.5 million. Oh, and ZOOM is profitable. Last year, the net income came to $7.6 million and cash flow from operations was a hefty $51.3 million.The market opportunity is also enormous. Based on research from IDC, the spending on ZOOM's main categories are forecasted to reach $43.1 billion by 2022. Bottom Line on the ZOOM IPOWhile Zoom is a great company and is likely to see continued robust growth, the valuation remains at nosebleed levels. Consider that the price-to-sales multiple is around 47X. Actually, this is at levels for red-hot cannabis stocks!OK then, so what now for the ZOOM IPO? It's really tough to tell. However, it seems clear that the stock is priced for perfection. And yes, this can set investors up for disappointment. Just look at what happened with the Snap (NYSE:SNAP) IPO.In other words, when looking at ZOOM right now, it's best to be cautious.Tom Taulli is the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 Dividend Stocks Perfect for Retirees * 7 Reasons the Stock Market Rally Isn't Over Yet * 10 S&P 500 Stocks to Weather the Earnings Storm Compare Brokers The post The Zoom IPO Goes Boom appeared first on InvestorPlace.
This time it's MapAnything, which as the name implies, helps companies build location-based workflows, something that could come in handy for sales or service calls. The companies did not reveal the selling price, and Salesforce didn't have anything to add beyond a brief press release announcing the deal. "The addition of MapAnything to Salesforce will help the world's leading brands accurately plan: how many people they need, where to put them, how to make them as productive as possible, how to track what’s being done in real time and what they can learn to improve going forward," Salesforce wrote in the statement announcing the deal.
MUNICH, April 17, 2019 /PRNewswire/ -- Audi Germany, a leading manufacturer of automobiles and motorcycles in the premium segment, is pooling its expertise in the area of e-mobility with Salesforce (CRM), the global leader in CRM, to deliver smart, personalized customer engagement throughout the entire customer lifecycle. Audi's new innovative "Functions-on-Demand" solution enables customers to order and obtain—temporarily or permanently—optional equipment and services for their vehicles. The Audi e-tron and Functions-on-Demand solution can be experienced at the Salesforce Basecamp events in Munich, Düsseldorf and Berlin.
I'm not yet a believer in the ability of IBM (NYSE:IBM) to make the shift to the new tech world under its current leadership. Every other mega-cap technology company has already adapted to the new ways except IBM. While IBM stock came into its earnings event up 27% year-to-date compared to the S&P 500's 16%, it still trails the index and its competitors tremendously for the long term.Source: Shutterstock IBM is down 25% in five years, while the SPY is up 56%. Microsoft (NASDAQ:MSFT) and Salesforce (NYSE:CRM) are up 200% for the same period. More to that, Cisco (NASDAQ:CSCO) and Oracle (NYSE:ORCL) are up 145% and 38% respectively. So this is proof that old dogs can learn new tricks … except for IBM.Management talks the talk, but for some reason, it's hard to see the results without a forensic technician on hand. If CEO Ginni Rometti has to point out the innovation, then it's probably not as impressive as she thinks it is.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe new formula for tech success is simple. Companies now want to use subscription services that are based in the cloud. Anything else is considered ancient and is off trend. This is likely to continue for a few years. CRM started the model and Amazon (NASDAQ:AMZN) accelerated it with the advent of its AWS.Last night, IBM management missed on sales but managed to beat their bottom line. This means IBM is managing profitability, but it still struggles to meet its revenue expectations. Also, to make things even more confusing they rearranged some of the revenue segments to muddle things. So I caution you on chasing mentions of "cloud" in their statements -- now, it's a matter of showing, not just telling. * 7 Consumer Stocks to Buy and Hold for Years While I'm not an expert on IBM's business, I do know mediocrity when I see it. This report represents its third consecutive decline in quarter sales year-over-year. Clearly IBM needs to make another shift of sorts. Whatever the company is doing now is not working, yet the CEO still gets the benefit of the doubt. At some point, IBM needs intervention so it can transform itself as MSFT did with its new CEO Satya Nadella.My criticism here is not the same as shorting the stock, but it's not a good bullish thesis either. The good news is that fundamentally, IBM stock is cheap as it sells at a price-to-earnings ratio of 12. This is even cheaper than Apple (NASDAQ:AAPL), so there is value below and it's not likely to be a major loss to hold the shares here. It's just stagnating. Bottom Line on IBM StockMaybe its acquisition of Red Hat (NYSE:RHT) is their ticket out of the stock muck in which they are stuck. If so, then a lot is riding on that and if it fails for any reason, both of those stocks are doomed.In addition to its fundamentals, IBM stock can't rally here because it's facing heavy technical resistance. Yes, IBM rallied an amazing 34% off its December lows. But up here it runs into the supply of sellers who have been stuck up since the October disaster. * 10 Best Stocks to Buy and Hold Forever Pivot zones like these are where bulls and bears agree on price so they like to fight it out hard. This creates price action congestion and when a stock is rallying this translates into resistance. All of that means it won't be as easy for IBM stock to breach the $145 zone as it was getting here. Conversely, IBM stock has support above $132 per share, so it would take a big calamity in the equity markets for it to fall below it.If I owned shares, I'd put them to work by selling covered calls against them. This is an easy way to create synthetic dividends above and beyond the company's 4% yield.Another bit of potentially good news is that most analysts have given up on the rally in IBM, so they rate the stock as a HOLD. When IBM finally delivers actual turnaround results there should be a slew of upgrades to cause a buying catalyst for the stock.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. You can follow him as @racernic on Twitter and Stocktwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy for Spring Season Growth * This Is How You Beat Back a Bear Market * 7 Dental Stocks to Buy That Will Make You Smile Compare Brokers The post IBM Needs to Show Us It Can Succeed Before It's a Buy Again appeared first on InvestorPlace.
Since its founding 20 years ago, Salesforce.com (NYSE:CRM) has been defined by the brash personality of CEO Marc Benioff.Source: Shutterstock Now, like many of his Silicon Valley peers, Benioff is trying to pass the torch, naming Keith Block co-CEO, plying him with gifts and elevating his status so that Benioff can be a philanthropist and public figure.It's the right time to do it, with Salesforce coming off a record year. For fiscal 2019, it reported net income of $1.11 billion, $1.43 per share, on revenue of nearly $13.3 billion. The forecast is for this to continue, with fiscal 2020 non-GAAP earnings estimated at about $2.75 per share, on revenue of about $16 billion.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIf Salesforce can hit these marks, its market cap of about $121 billion will look reasonable, and the April 16 opening price of almost $161 per share will look cheap. Growing Salesforce CloudSalesforce pioneered the business of Software as a Service (SaaS), delivered using clouds, with Benioff spending much of the current decade freeing his customers from dependence on Amazon.Com (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), all of which are now "partners." * 10 S&P 500 Stocks to Weather the Earnings Storm The result is that cloud-based SaaS companies like Salesforce are in a "sweet spot," with Salesforce commanding 20% of the Customer Relationship Management market. Its most recent success is Einstein, introduced in 2016, an analytics program that can predict consumer behavior based on enterprise data stores.Salesforce is also introducing Quip, a collaboration tool bought in 2016, to its platform, and this is where things get cloudy, because many of the companies Salesforce collaborates with, including the Cloud Czars, already offer similar functions. Clouds Around CRM Stock's BusinessThe sky around Salesforce is getting cloudy, as Adobe (NASDAQ:ADBE) has made its graphics software a marketing tool, and teamed up with Microsoft to take on Salesforce's CRM niche.This jockeying for position also takes place on lower cloud levels. When Solarwinds (NYSE:SWI) bought Samanage, a Salesforce investment, it moved toward becoming a competitor to ServiceNow (NYSE:NOW), and may have pushed that company into the arms of the Adobe-Microsoft alliance.The growing complexity of Artificial Intelligence is also pushing Salesforce into a global position, as it recently opened a lab in Singapore. Salesforce, now based in a landmark San Francisco skyscraper, is also planning other skyscrapers in cities like Boston, physical manifestations of virtual dominance.The danger for investors is this can make Salesforce a target. It's now facing a lawsuit over sex trafficking, as women say its software was used by the company that helped traffic them, and customized for the task. The man behind the website has pleaded guilty and offered to testify against his business partners.The purchase of Salesforce.org, a charitable foundation that sold its software at a discount to charities, for $300 million may distract from those headlines, as Benioff continues to make himself over as a great man, buying Time Magazine and pushing his fellow billionaires to support the homeless. The Bottom LineWith Benioff increasingly distracted, and Salesforce increasingly scaled, co-CEO Block is stepping up as the public face of the company, which may be behind the gifts of a fancy car and expensive watch.Block, who joined in 2013, is now the go-to guy to talk about the company's technology initiatives, as it cements itself as an institution beneath the clouds that serve its software.Investors who came along for the ride with Benioff have reaped huge gains. New investors are betting on Block.Dana Blankenhorn is a financial and technology journalist. He is the author of a new mystery thriller, The Reluctant Detective Finds Her Family, available now at the Amazon Kindle store. Write him at email@example.com or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in MSFT and AMZN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy for Spring Season Growth * This Is How You Beat Back a Bear Market * 7 Dental Stocks to Buy That Will Make You Smile Compare Brokers The post Salesforce.com Is Bigger Than Benioff appeared first on InvestorPlace.
SAN FRANCISCO, April 17, 2019 /PRNewswire/ -- Salesforce (CRM), the global leader in CRM, today announced new Einstein services that enable admins and developers to build custom artificial intelligence — all with just a few clicks or a single line of code. More than six billion predictions are generated every day by Einstein AI capabilities embedded across Salesforce, putting the power of machine learning at the fingertips of millions of sales, service, marketing and commerce professionals. With a global shortage of data scientists necessary to build these tailored AI solutions, Salesforce has been bridging the skills gap by empowering Salesforce developers and admins with "point and click" solutions and low-code services in the Einstein platform.
Software stocks jumped in the first quarter of 2019, repeating a pattern from the prior two years. The big question is whether premium valuations can be sustained amid worries over growth.
Yesterday, Salesforce .com announced its intent to buy its own educational/non-profit arm, Salesforce.org for $300 million. Salesforce has always made a lot of hay about being a responsible capitalist. While it's easy to be cynical about the possible motivations, it could be a simple business reason, says Ray Wang, founder and principal analyst at Constellation Research.
org -- which had been areseller of Salesforce software and services to the nonprofit sector -- intoSalesforce itself as part of a larger, new nonprofit and education vertical
Investors hoping to remove trade from their near-term worries list may be in for disappointment. For one thing, tariffs may not disappear entirely.
Zoom Video Communications raised its expected initial public offering pricing Tuesday to $33 to $35 a share, up from an earlier estimate of $28 to $32 a share, according to a filing with the Securities and Exchange Commission. The San Jose-based video conference company said it was offering 9.9 million shares of its Class A common stock while selling shareholders will offering 10.9 million shares of Class A common stock. The IPO would be worth to the company roughly $326 million to $346 million.
SAN DIEGO, April 16, 2019 /PRNewswire/ -- Salesforce.org, which empowers nonprofits and educational institutions through technology, grants, and volunteering programs, today announced a new data architecture to support lifelong learning, new capabilities for its Education Cloud, and investments in nonprofit organizations committed to college and career success for students from all backgrounds. Higher education is facing new challenges as expectations from prospective and current students, alumni and donors are changing. Salesforce.org provides innovative tools that enable institutions to deliver tailored student journeys and achieve greater student success—from recruiting and admissions all the way through career readiness.
In a deal announced Monday afternoon, Salesforce will acquire an independent entity that was created to sell Salesforce software at a discounted rate to nonprofits, schools and other groups that struggle to pay for high-value software
The San Francisco-based software maker will pay $300 million for Salesforce.org, which is currently a “California public benefit” corporation, the company said Monday in a statement. Salesforce said the combination will boost its fiscal 2020 revenue by $150 million to $200 million, and now sees adjusted profits of $2.54 to $2.56 per share. Salesforce.org, often mistaken for a philanthropic organization, will become a vertical within the software maker, giving its new parent company products for nonprofit and educational institutions.
Jim Cramer has unveiled his "5 Rules for Trading Stocks During Earnings Season," and Rule No. 3 is a bit counterintuitive -- "Expectations Matter More than Sales or Profits," so be ready to buy good stocks when they fall despite impressive earnings. "The deck is so darned short and the planes are so huge that it requires the pilot to almost kill the engine to be sure he doesn't overshoot," Cramer recalled. "As the planes would approach, the controller would say 'You're coming in hot, you're coming in hot, you're coming in hot' -- always trying to get the pilot to slow down.
Salesforce.com Inc. is buying Salesforce.org -- created to distribute Salesforce software at reduced amounts to nonprofits, schools and other organizations -- for $300 million. Salesforce.org will change from a public-benefit corporation to an arm of Salesforce dedicated to the same task, while the purchase price goes to the nonprofit Salesforce.com Foundation. Salesforce said it would continue "to provide free and highly discounted software to nonprofits and education institutions around the world" while making the philanthropic-minded arm of its business an actual software vertical within the company. Salesforce said it would add $150 million to $200 million in revenue to its books this fiscal year, but said the transaction's one-time, $200 million non-cash charge reduced its adjusted-profit forecast by 20 cents a share for the year. "The impact on GAAP EPS is expected to be more significant than for non-GAAP EPS due to the additional stock-based compensation charges and the impact of other various non-cash items, including income tax adjustments," the software company said. Shares declined slightly after the announcement was made; Salesforce executives planned a conference call for 2 p.m. Pacific time.
SAN FRANCISCO, April 15, 2019 /PRNewswire/ -- Salesforce (CRM), the global leader in CRM, today announced that Salesforce.org, the independent nonprofit social enterprise, will be integrated into Salesforce. With Salesforce.org, Salesforce will scale its philanthropic efforts and create strategic synergies and operational simplicity that will enable the company to drive even greater success for its nonprofit, education and philanthropy customers. When Salesforce was founded in 1999, the company pioneered the 1-1-1 model of integrated corporate philanthropy, donating one percent of its equity, product and employee time to communities around the world.