CRM
Biggest stock movers today: CRM, PATH, and more (NYSE:AI)
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Stock futures were trading lower in the early morning hours on Thursday following a disappointing outlook from Salesforce (NYSE:CRM).
Here are some of Thursday’s biggest stock movers:
Biggest stock gainers
- Shares of Pure Storage (NYSE:PSTG) surged 10% following better than expected Q1 results with revenue growth of 18% on the back of subscription revenue growth of 23% Y/Y. The company also expects Q2 revenue of $755M, above the consensus of $751.68M. However, Pure Storage expects FY25 revenue of $3.1B, slightly below the consensus of $3.13B.
- C3.AI (NYSE:AI) shares jumped 9% after reporting upbeat results and outlook. The enterprise software reported FQ4 revenue growth of ~20% Y/Y, led by subscription revenue growth of 40.4%. It expects FQ1 sales to be between $84M and $89M, with the midpoint above the $85.9M estimate, and expects FY2025 revenue between $370M and $395M, above the consensus of $367.7M.
Biggest stock losers
- Salesforce’s (CRM) stock plunged more than 15% after the enterprise software giant fell short on revenue expectations in Q1 as well as Q2 and the FY2025 outlook. It sees Q2 sales between $9.2B and $9.25B, below the $9.35B estimate, and for FY2025 between $37.7B and $38B, below the consensus of $38.05B.
- Despite upbeat Q1 results, UiPath (NYSE:PATH) shares plummeted about 29%, overshadowed by the announcement of CEO Rob Enslin’s resignation, effective June 1. The company re-appointed Daniel Dines, founder and former CEO of UiPath, as a successor. Additionally, the software company’s Q2 revenue outlook in the range of $300M to $305M fell short of the consensus of $342.07M and annual revenue in the range of $1.405B to $1.410B, vs. $1.56B consensus.
