Wall Street brokerages expect salesforce.com, inc. (NYSE:CRM) to report sales of $4.45 billion for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have made estimates for salesforce.com’s earnings, with the highest sales estimate coming in at $4.48 billion and the lowest estimate coming in at $4.44 billion. salesforce.com reported sales of $3.39 billion during the same quarter last year, which indicates a positive year over year growth rate of 31.3%. The firm is scheduled to report its next quarterly earnings report on Tuesday, November 26th.
According to Zacks, analysts expect that salesforce.com will report full-year sales of $16.86 billion for the current fiscal year, with estimates ranging from $16.81 billion to $17.00 billion. For the next financial year, analysts forecast that the business will post sales of $20.89 billion, with estimates ranging from $20.34 billion to $21.44 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for salesforce.com.
salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.57. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 earnings per share.
Several brokerages recently weighed in on CRM. TheStreet cut shares of salesforce.com from a “b” rating to a “c” rating in a report on Thursday, August 22nd. Credit Suisse Group set a $175.00 target price on shares of salesforce.com and gave the company a “buy” rating in a report on Wednesday, August 28th. Stifel Nicolaus raised their target price on shares of salesforce.com from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Wedbush reaffirmed an “outperform” rating and issued a $184.00 target price (down previously from $192.00) on shares of salesforce.com in a report on Tuesday, August 20th. Finally, OTR Global raised shares of salesforce.com to a “positive” rating in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $183.82.
NYSE:CRM traded down $1.77 during mid-day trading on Friday, hitting $152.98. The stock had a trading volume of 3,763,128 shares, compared to its average volume of 6,062,849. The stock has a 50-day simple moving average of $149.93 and a two-hundred day simple moving average of $155.60. The company has a market capitalization of $131.24 billion, a PE ratio of 105.50, a PEG ratio of 5.51 and a beta of 1.24. salesforce.com has a twelve month low of $113.60 and a twelve month high of $167.56. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31.
In other news, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $140.98, for a total transaction of $1,409,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sanford Robertson sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $155.67, for a total transaction of $3,891,750.00. Following the transaction, the director now owns 124,017 shares in the company, valued at $19,305,726.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 315,614 shares of company stock worth $48,030,737. Insiders own 5.50% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Savant Capital LLC raised its stake in shares of salesforce.com by 2.3% during the 1st quarter. Savant Capital LLC now owns 3,123 shares of the CRM provider’s stock worth $495,000 after buying an additional 70 shares during the last quarter. Allred Capital Management LLC raised its stake in shares of salesforce.com by 1.6% during the 2nd quarter. Allred Capital Management LLC now owns 4,494 shares of the CRM provider’s stock worth $692,000 after buying an additional 71 shares during the last quarter. Clear Perspective Advisors LLC raised its stake in shares of salesforce.com by 4.6% during the 2nd quarter. Clear Perspective Advisors LLC now owns 1,646 shares of the CRM provider’s stock worth $250,000 after buying an additional 72 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of salesforce.com by 9.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 890 shares of the CRM provider’s stock worth $135,000 after buying an additional 74 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of salesforce.com by 4.9% during the 1st quarter. Cetera Investment Advisers now owns 1,715 shares of the CRM provider’s stock worth $271,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 73.81% of the company’s stock.
salesforce.com Company Profile
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
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