Of 50 analysts covering Salesforce stock, 40 have a Buy or Strong Buy rating. The other 10 rate the shares at Hold. At a share price of around $153.70, the upside potential based on a median price target of $215.00 is almost 40%. At the high price target of $310, the upside potential is 101.7%.
The consensus revenue estimate for the third quarter of fiscal 2023 is $7.83 billion, up nearly 2.8% sequentially and by 14.1% year over year. Adjusted EPS are forecast at $1.22, up 4.9% sequentially but down 3.9% year over year. For the full fiscal year ending in January, current estimates call for EPS of $4.73, down 1%, on sales of $31.01 billion, up about 17.1%.
Salesforce stock trades at 32.5 times expected 2023 EPS, 27.4 times estimated 2024 earnings of $5.60 and 22.5 times estimated 2025 earnings of $6.82 per share. The 52-week range is $136.04 to $299.27. The company does not pay a dividend. Total shareholder return for the past year was negative 48.2%.
Snowflake
Over the past 12 months, cloud-based data platform provider Snowflake Inc. (NYSE: SNOW) has seen its share price plunge by more than 61%. Since posting its 52-week high exactly one year ago, the stock has dropped by nearly 63%. The cloud computing space was hammered by indifferent results from industry leaders Amazon and Microsoft when they reported quarterly results last month. In a recent SEC filing, the nation’s second-largest pension fund, the California State Teachers Retirement System (Calstrs), revealed the addition of 53,841 shares of Snowflake stock to its portfolio in the third quarter, raising its position in the company to 409,742 shares.
Despite the plummeting stock price, analyst sentiment remains positive. Of 39 brokerages covering the stock, 10 rate it at Hold, and 27 have a Buy or Strong Buy rating. At a share price of around $140.10, the upside potential based on a median price target of $200.00 is 41.7%. At the high price target of $500.00, the upside potential is 254%.
Fiscal third-quarter revenue is forecast at $538.91 million, up 8.4% sequentially and 61.1% higher year over year. Snowflake is expected to post adjusted EPS of $0.05 in the quarter, up 500% sequentially and up 25% year over year. For the full 2023 fiscal year ending in January, Snowflake is expected to post adjusted EPS of $0.17, up from the year-ago EPS of $0.01, on sales of $2.04 billion, up 67.7%.
Snowflake stock trades at 377.0 times expected 2024 earnings of $0.40 and 183.3 times estimated 2025 earnings of $0.83 per share. The stock’s 52-week range is $110.27 to $405.00. The company does not pay a dividend, and the total shareholder return for the past year was negative 43.2%.
Originally published at 24/7 Wall St.
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