SaaS Stocks Brace for Salesforce.com (CRM) Earnings
The SaaS 20 Stock Index has climbed for five consecutive weeks, but all eyes are now on Salesforce.com (CRM) — one of our key software as a service index members. Salesforce.com is expected to announce quarterly results on Wednesday, Aug. 20. But Wall Street analysts have divided outlooks on the company.
Barron’s does a good job summarizing analyst viewpoints on the Salesforce.com, and SeekingAlpha.com offers a closer look at eight key SaaS companies — seven of which are part of our SaaS 20 Stock Index.
If Salesforce.com manages to deliver strong quarterly earnings on Aug. 20, it will reinforce recent momentum for the SaaS space. Companies such as Athenahealth (ATHN), SuccessFactors Inc. (SFSF), Kenexa Corp. (KNXA), Concur Technologies Inc. (CNQR), Taleo Corp. (TLEO) and Omniture Inc. (OMTR) all have benefited from rising earnings across the SaaS space this quarter, noted MSPmentor on August 10.
Salesforce.com hopes to continue that industry winning streak on Aug. 20. (Full disclosure: I own a handful of shares of Salesforce.com, but have no other SaaS holdings).