Salesforce, Inc. ( CRM ) is in the spotlight Wednesday ahead of second-quarter earnings due after the market closes.

What To Know: Analysts expect Salesforce ( CRM ) to report second-quarter earnings per share of $2.78 and revenue of $10.13 billion. Salesforce ( CRM ) previously guided for second-quarter revenue between $10.11 billion and $10.16 billion.

In the company’s first quarter, Salesforce ( CRM ) reported earnings per share of $2.58, beating the consensus estimate of $2.55 and revenue of $9.83 billion, beating the consensus estimate of $9.75 billion. The company ended the quarter with remaining performance obligations of $29.6 billion, up 12% year-over-year.

Salesforce ( CRM ) has a strong history of beating consensus estimates for both earnings per share and revenue, according to Benzinga Pro.

Multiple analysts have raised price targets on Salesforce ( CRM ) in recent weeks leading up to earnings, suggesting shares may have more room to run.

Morgan Stanley maintained an Overweight rating on Salesforce ( CRM ) on Tuesday and raised the price target from $404 to $405. JMP Securities reiterated an Outperform rating on Salesforce ( CRM ) this week and maintained a price target of $430 and Oppenheimer maintained an Outperform rating and raised the price target from $315 to $370.

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CRM Price Action: At the time of publication, Salesforce ( CRM ) stock was trading 0.91% higher at $255.16, according to data from Benzinga Pro.

Salesforce ( CRM ) is currently trading below the 50-day moving average of $257.02, indicating a potential resistance level, while the 100-day moving average at $262.82 suggests further resistance above. The stock remains significantly below the 200-day moving average of $290.17, highlighting a longer-term bearish trend. Salesforce ( CRM ) has a 52-week high of $369 and a 52-week low of $226.48.

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