No Risk To Salesforce.com Q4 Consensus, According To This Analyst

will meet expectations despite a major currency headwind when it posts fourth-quarter results, an analyst said Monday. The San Francisco-based customer relations company, which gets about 30 percent of its business outside the U.S., is expected to post adjusted fourth-quarter profit on Wednesday of $0.14 cents a share, on revenue of $1.44 billion. Salesforce changed hands recently at $62.84, down $0.90 cents. JMP analyst Patrick Walravens maintained an Outperform rating and $75 target on the company, saying he's confident it will meet the current consensus. Salesforce in November forecast fourth-quarter earnings of $0.13 cents to $0.14 cents a share, on revenue of $1.436 billion to $1.441 billion. That forecast included a 2 percent currency headwind, Walravens estimated, but he says it has in fact grown to 3 percent. The euro is now off 15 percent from a year ago versus the dollar, while the yen is off 13 percent, according to Walravens. Comments concerning the company's fourth quarter from 13 customers were gathered by Walravens, who said 77 percent bore a positive tenor. "Our checks suggest that head of sales Keith G. Block delivered" during the recent period, Walravens said. Forty-one analysts rate Salesforce at Buy or the equivalent; five maintain Hold ratings and four are at Sell or the equivalent, according to FactSet.