Salesforce Stock Technical Setup Ahead Of Q4 Earnings
Salesforce (CRM) will be reporting its fourth-quarter (Q4) earnings on February 28th. The San Francisco-based company is known for its cloud-based customer relationship management (CRM) platform, helping businesses manage and analyze customer interactions and streamline sales, service, and marketing processes. Wall Street expects $2.26 in EPS and $9.23 billion in revenues as the company reports after market hours.
The price chart setup of Salesforce stock indicates a robust bullish trend. The stock is currently trading above its 5, 20, and 50-day exponential moving averages, indicating strong positive momentum. The eight-day simple moving average stands at $290.95, providing a Buy signal, and the 20-day and 50-day simple moving averages at $288.41 and $275.13, respectively, also support a Buy stance. Furthermore, the 200-day simple moving average at $230.23 reinforces the Buy signal. The Moving Average Convergence Divergence (MACD) indicator, at 6.21, further supports a Buy position.
However, caution is advised as the Relative Strength Index (RSI) at 60.78 suggests that Salesforce stock is gradually heading towards overbought levels. Nevertheless, the Bollinger Bands (25) and (100) both indicate a Buy signal, with respective ranges of (280.81 – 292.09) and (213.8 – 279.22). Investors may want to monitor the overbought condition indicated by RSI while considering the overall positive technical outlook for Salesforce.
Analysts consensus ratings on Salesforce stock stand at a Buy currently with a price target of $278.38. Analysts ratings received over the last two months indicate mixed sentiments towards the stock’s valuation with analysts mostly rating the stock Neutral and Outperform. Price targets on the stock from February reviews indicate a 4% downside to a 9.7% upside.
Salesforce stock was trading at $300.39 at the close of market day on February 26th. As investors await the Q4 earnings report, the technical setup and analyst ratings provide valuable insights for decision-making. Stay tuned for Salesforce’s earnings report to see how the company performs in the fourth quarter.
