We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Upcoming Tech Earnings to Watch: Salesforce, VMware & HP
Read MoreHide Full Article
Third quarter earnings season is wrapping up, with reports out from nearly all of the S&P 500 members. With that said, we are still waiting on some potentially significant results from some major tech companies. So let’s see what to expect from Salesforce (CRM - Free Report) , VMware, Inc. , and HP Inc. (HPQ - Free Report) .
At this point, 484 S&P 500 members, or 96.8% of the index’s total membership, have reported their quarterly financial results. Total earnings for these companies are up 25.6% from the same period last year on the back of 8.4% higher revenues. Plus, 78.9% have topped EPS estimates and 64.7% have come in above revenue estimates. Despite these strong results and solid reports from the likes of Walmart (WMT - Free Report) , Macy’s (M - Free Report) , and other retailers recently, tech stocks have continued to drag down the market as a whole, fueled by Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) , and other FAANG stock selloffs.
Therefore, understanding what to expect from some tech companies during the week of November 26 is vital as they could help bring about a small turnaround. With some help from the Zacks Earnings Calendar let’s take a closer look at a few important tech stocks and what to expect from their earnings announcements.
Salesforce
Salesforce boasts over 150,000 business clients, including giants like U.S. Bancorp (USB - Free Report) . The cloud-based customer relationship management firm’s stock had been cruising along until the recent selloff. In fact, CRM stock was down roughly 1% through mid-morning trading Friday to $122.40 per share, which marked a roughly 24% downturn from its 52-week high of $161.19.
Looking ahead, Salesforce’s third-quarter revenues are projected to jump 25.6% to reach $3.37 billion, based on our current Zacks Consensus Estimate. The company’s revenues grew 27% in Q2 and 25% in the year-ago quarter. Meanwhile, Salesforce’s adjusted quarterly earnings are projected to climb by 28.2% to hit $0.50 per share.
Salesforce is currently a Zacks Rank #3 (Hold) based on its earnings estimate revision trends. The company is scheduled to release its Q3 financial results on Tuesday, November 27.
VMware
VMware stock has trended upward over the last month amid the broader market downturn. The cloud computing company’s shares were up 1.7% through morning trading Friday at $152.10 per share. Still, VMW stock is down 8% from its year-long high of $165.00 per share.
The Palo Alto-based tech firm is expected to post adjusted quarterly earnings of $1.50 per share, which would mark a nearly 12% jump from the year-prior quarter. VMware’s revenues are projected to climb 9.7% to reach $2.17 billion. We should also note that the company hasn’t seen any earnings estimate revisions over the last 90 days and it is currently a Zacks Rank 3# (Hold).
VMware plans to release its third quarter financial results after the market closes on Thursday, November 29.
HP Inc.
Shares of HPQ hovered at around $22.60 per share through morning trading Friday, down roughly 16% from their 52-week high of $27.08. We should note that HP stock has been hit relatively hard since early November. HP, which sells printers, PCs, and mobile devices, is expected to see its quarterly revenues surge 9.3% from the year-ago quarter to reach $15.22 billion.
At the bottom end of the income statement, HP is projected to report adjusted quarterly earnings of $0.54 per share, which would represent a 22.7% climb. HPE, like its fellow tech firms that we have discussed, is currently a Zacks Rank #3 (Hold) that sports an “A” VGM score.
HP is scheduled to report its fiscal Q4 results on after the closing bell on Thursday, November 29.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Upcoming Tech Earnings to Watch: Salesforce, VMware & HP
Third quarter earnings season is wrapping up, with reports out from nearly all of the S&P 500 members. With that said, we are still waiting on some potentially significant results from some major tech companies. So let’s see what to expect from Salesforce (CRM - Free Report) , VMware, Inc. , and HP Inc. (HPQ - Free Report) .
At this point, 484 S&P 500 members, or 96.8% of the index’s total membership, have reported their quarterly financial results. Total earnings for these companies are up 25.6% from the same period last year on the back of 8.4% higher revenues. Plus, 78.9% have topped EPS estimates and 64.7% have come in above revenue estimates. Despite these strong results and solid reports from the likes of Walmart (WMT - Free Report) , Macy’s (M - Free Report) , and other retailers recently, tech stocks have continued to drag down the market as a whole, fueled by Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) , and other FAANG stock selloffs.
Therefore, understanding what to expect from some tech companies during the week of November 26 is vital as they could help bring about a small turnaround. With some help from the Zacks Earnings Calendar let’s take a closer look at a few important tech stocks and what to expect from their earnings announcements.
Salesforce
Salesforce boasts over 150,000 business clients, including giants like U.S. Bancorp (USB - Free Report) . The cloud-based customer relationship management firm’s stock had been cruising along until the recent selloff. In fact, CRM stock was down roughly 1% through mid-morning trading Friday to $122.40 per share, which marked a roughly 24% downturn from its 52-week high of $161.19.
Looking ahead, Salesforce’s third-quarter revenues are projected to jump 25.6% to reach $3.37 billion, based on our current Zacks Consensus Estimate. The company’s revenues grew 27% in Q2 and 25% in the year-ago quarter. Meanwhile, Salesforce’s adjusted quarterly earnings are projected to climb by 28.2% to hit $0.50 per share.
Salesforce is currently a Zacks Rank #3 (Hold) based on its earnings estimate revision trends. The company is scheduled to release its Q3 financial results on Tuesday, November 27.
VMware
VMware stock has trended upward over the last month amid the broader market downturn. The cloud computing company’s shares were up 1.7% through morning trading Friday at $152.10 per share. Still, VMW stock is down 8% from its year-long high of $165.00 per share.
The Palo Alto-based tech firm is expected to post adjusted quarterly earnings of $1.50 per share, which would mark a nearly 12% jump from the year-prior quarter. VMware’s revenues are projected to climb 9.7% to reach $2.17 billion. We should also note that the company hasn’t seen any earnings estimate revisions over the last 90 days and it is currently a Zacks Rank 3# (Hold).
VMware plans to release its third quarter financial results after the market closes on Thursday, November 29.
HP Inc.
Shares of HPQ hovered at around $22.60 per share through morning trading Friday, down roughly 16% from their 52-week high of $27.08. We should note that HP stock has been hit relatively hard since early November. HP, which sells printers, PCs, and mobile devices, is expected to see its quarterly revenues surge 9.3% from the year-ago quarter to reach $15.22 billion.
At the bottom end of the income statement, HP is projected to report adjusted quarterly earnings of $0.54 per share, which would represent a 22.7% climb. HPE, like its fellow tech firms that we have discussed, is currently a Zacks Rank #3 (Hold) that sports an “A” VGM score.
HP is scheduled to report its fiscal Q4 results on after the closing bell on Thursday, November 29.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think. See This Ticker Free >>