NEW YORK (TheStreet) -- Shares of Salesforce.com Inc (CRM) are trading down 2.82% to $69.46 in mid-morning trading Wednesday, ahead of the cloud-computing giant's first-quarter earnings, scheduled to be released after the market closes later today.
For the quarter that ended April, the company is expected to earn 14 cents per share on revenue of $1.5 billion.
In the same quarter of last year, Salesforce.com earned 11 cents per share on revenue of $1.23 billion.
Analysts at Goldman Sachs said in a note last Thursday that they expect Salesforce to report an in-line first quarter.
The firm raised its price target to $87 from $78, and kept its "conviction buy" rating on the stock.
San Francisco-based Salesforce.com is a provider of enterprise cloud computing solutions that helps with customer relationship management.
The company delivers its service through Internet browsers and mobile devices, and markets its social enterprise applications and platforms to businesses on a subscription basis, primarily through its direct sales efforts and indirectly through partners.
Separately, TheStreet Ratings team rates SALESFORCE.COM INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SALESFORCE.COM INC (CRM) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."