Equities analysts predict that salesforce.com, inc. (NYSE:CRM) will announce sales of $4.75 billion for the current quarter, Zacks Investment Research reports. Twelve analysts have made estimates for salesforce.com’s earnings. The highest sales estimate is $4.78 billion and the lowest is $4.72 billion. salesforce.com reported sales of $3.60 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 31.9%. The firm is expected to announce its next quarterly earnings report on Monday, March 2nd.
On average, analysts expect that salesforce.com will report full-year sales of $17.00 billion for the current year, with estimates ranging from $16.99 billion to $17.03 billion. For the next year, analysts expect that the business will report sales of $20.89 billion, with estimates ranging from $20.75 billion to $21.18 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover salesforce.com.
salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. salesforce.com had a return on equity of 5.37% and a net margin of 4.64%. The firm had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the firm posted $0.61 EPS. The business’s revenue was up 33.0% on a year-over-year basis.
CRM has been the topic of a number of research reports. Canaccord Genuity restated a “buy” rating and issued a $185.00 price objective on shares of salesforce.com in a report on Wednesday, December 4th. Cowen restated a “buy” rating and issued a $195.00 price objective on shares of salesforce.com in a report on Wednesday, December 4th. Stifel Nicolaus raised their price objective on salesforce.com from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 23rd. JMP Securities restated a “buy” rating and issued a $191.00 price objective on shares of salesforce.com in a report on Monday, November 25th. Finally, Robert W. Baird restated a “buy” rating and issued a $185.00 price objective on shares of salesforce.com in a report on Thursday, November 21st. Five research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $189.68.
CRM stock traded up $2.54 during midday trading on Monday, reaching $161.13. The stock had a trading volume of 5,608,551 shares, compared to its average volume of 5,398,101. The company’s fifty day simple moving average is $159.52 and its 200 day simple moving average is $153.53. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. The company has a market cap of $138.72 billion, a price-to-earnings ratio of 111.12, a price-to-earnings-growth ratio of 6.53 and a beta of 1.24. salesforce.com has a 52-week low of $120.16 and a 52-week high of $167.56.
In related news, CAO Joe Allanson sold 167 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $154.07, for a total transaction of $25,729.69. Following the completion of the sale, the chief accounting officer now directly owns 30,958 shares of the company’s stock, valued at approximately $4,769,699.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Srinivas Tallapragada sold 1,608 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $162.57, for a total value of $261,412.56. Following the sale, the insider now directly owns 34,719 shares of the company’s stock, valued at $5,644,267.83. The disclosure for this sale can be found here. Insiders have sold a total of 295,065 shares of company stock valued at $46,139,296 over the last three months. Corporate insiders own 5.50% of the company’s stock.
Large investors have recently modified their holdings of the stock. Nuveen Asset Management LLC grew its position in salesforce.com by 36,379.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 12,648,680 shares of the CRM provider’s stock valued at $1,919,183,000 after acquiring an additional 12,614,007 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in salesforce.com by 13.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 33,910,865 shares of the CRM provider’s stock valued at $5,145,296,000 after acquiring an additional 4,046,077 shares in the last quarter. State Street Corp grew its position in salesforce.com by 12.1% in the 3rd quarter. State Street Corp now owns 34,667,028 shares of the CRM provider’s stock valued at $5,145,974,000 after acquiring an additional 3,749,613 shares in the last quarter. Viking Global Investors LP acquired a new position in salesforce.com in the 2nd quarter valued at about $443,415,000. Finally, BlackRock Inc. boosted its stake in shares of salesforce.com by 4.7% in the 2nd quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock valued at $8,521,967,000 after buying an additional 2,499,996 shares during the period. 81.34% of the stock is owned by hedge funds and other institutional investors.
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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