Q2 Earnings Highs And Lows: Salesforce (NYSE:CRM) Vs The Rest Of The Sales Software Stocks
Looking back on sales software stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including Salesforce (NYSE:CRM) and its peers.
Companies need to be able to interact with and sell to their customers as efficiently as possible. This reality coupled with the ongoing migration of enterprises to the cloud drives demand for cloud-based customer relationship management (CRM) software that integrates data analytics with sales and marketing functions.
The 4 sales software stocks we track reported a satisfactory Q2. As a group, revenues beat analysts’ consensus estimates by 1.5% while next quarter’s revenue guidance was in line.
Thankfully, share prices of the companies have been resilient as they are up 6.1% on average since the latest earnings results.
Salesforce (NYSE:CRM)
With its cloud-based platform named after its stock ticker symbol CRM (Customer Relationship Management), Salesforce (NYSE:CRM) provides customer relationship management software that helps businesses connect with their customers across sales, service, marketing, and commerce.
Salesforce reported revenues of $11.35 billion, up 10.8% year on year. This print was in line with analysts’ expectations, and overall, it was a strong quarter for the company with full-year EPS guidance exceeding analysts’ expectations and EPS guidance for next quarter topping analysts’ expectations.
Salesforce delivered the weakest performance against analyst estimates of the whole group. Interestingly, the stock is up 13.9% since reporting and currently trades at $234.20.
Is now the time to buy Salesforce? Access our full analysis of the earnings results here, it’s free.
Best Q2: ZoomInfo (NASDAQ:GTM)
Operating a platform it calls “RevOS” – short for Revenue Operating System – ZoomInfo (NASDAQ:GTM) provides sales, marketing, and recruiting teams with business intelligence and analytics to identify prospects and deliver targeted outreach.
ZoomInfo reported revenues of $310.4 million, up 1.2% year on year, outperforming analysts’ expectations by 2.7%. The business had a very strong quarter with an impressive beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ annual recurring revenue estimates.
ZoomInfo delivered the biggest analyst estimate beat, highest guidance raise, and highest full-year guidance raise in the group. The market seems happy with the results as the stock is up 6.3% since reporting. It currently trades at $3.89.
Is now the time to buy ZoomInfo? Access our full analysis of the earnings results here, it’s free.
