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Box shares rise after Q3 earnings beat, Salesforce and Allbirds dip

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  • BIRD
  • BOX
  • CRM

Yahoo Finance's Ines Ferre details stock price action for Box, Salesforce, and Allbirds.

Video Transcript

JARE BLIKRE: Welcome back. Time now for our trending tickers. And we've got a slew of earnings to go through with the help of Yahoo Finance's Ines Ferre. And Ines, we've got AllBirds on deck. They posted a wider loss than expected. We also have Salesforce with a new CEO. And we also have Box. That stock is rising as both their sales and earnings beat estimates. Can you break it all down for us, Ines?

INES FERRE: Yeah, let's start with the Dow component, Salesforce, down about 6% right now. In fact, it's its biggest intraday drop in nine months. Revenue and profit forecast, that coming in missing expectations for the current quarter. Now Piper Sandler wrote a note about this, basically saying that despite weakness that we saw in the fourth quarter guidance, it does still-- the company is still seeing a growth in cloud, in fact, growth in Cloud Sales being its highest in over three years. Also, the company promoting Brett Taylor to become co-CEO alongside Marc Benioff, and that move is really seen as positive by analysts. There are 42 buy ratings on this stock, seven holds, and no sells.

Taking a look at Box, as you were mentioning, Box soaring more than 12%. The software company beating across major metrics. Analysts calling this quarter a solid quarter, especially when it comes to billing. Raymond James analyst saying that the third quarter print was impressive. And William Blair has an outperform rating on the stock, saying all metrics are trending in the right direction.

And then, finally, looking at Allbirds, this stock is down today, tanking 13%. This is the company's first quarterly results since going public in early November. Revenue jumped 33% year over year. That came in above estimates. Its loss per share coming in at $0.25. A lot of that was related to the IPO costs and also store openings. But you're seeing pressure on the stock right now because of its revenue guidance. That was conservative for what the Street was looking for, and also the company noting higher inventory.

Now, analysts recently started covering the stock. There are nine buy ratings on this stock, three holds, and zero sells. You remember when this company went public on November 3rd, they priced their IPO at $15 a share. And that day, the stock soared 90%. You can see the decline since those IPO highs. Nevertheless, the stock right now trading above still its IPO price of $15.