Equities analysts predict that salesforce.com, inc. (NYSE:CRM) will report $6.23 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Thirteen analysts have made estimates for salesforce.com’s earnings, with the highest sales estimate coming in at $6.28 billion and the lowest estimate coming in at $6.20 billion. salesforce.com posted sales of $5.15 billion during the same quarter last year, which suggests a positive year over year growth rate of 21%. The business is expected to report its next quarterly earnings results on Tuesday, August 24th.
According to Zacks, analysts expect that salesforce.com will report full-year sales of $25.90 billion for the current fiscal year, with estimates ranging from $25.55 billion to $26.00 billion. For the next year, analysts expect that the firm will post sales of $30.85 billion, with estimates ranging from $29.95 billion to $31.58 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover salesforce.com.
salesforce.com (NYSE:CRM) last announced its earnings results on Wednesday, May 26th. The CRM provider reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.33. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.89 billion. salesforce.com had a return on equity of 8.02% and a net margin of 19.88%. salesforce.com’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the company earned $0.70 EPS.
Several brokerages recently issued reports on CRM. Credit Suisse Group set a $260.00 target price on salesforce.com and gave the stock a “buy” rating in a research report on Friday, May 28th. Morgan Stanley raised their target price on salesforce.com from $270.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 25th. They noted that the move was a valuation call. Wolfe Research assumed coverage on salesforce.com in a research report on Wednesday, April 28th. They issued an “outperform” rating and a $270.00 price objective for the company. TheStreet raised salesforce.com from a “c+” rating to a “b-” rating in a research report on Monday, April 26th. Finally, KGI Securities assumed coverage on salesforce.com in a research report on Wednesday, June 2nd. They issued a “neutral” rating and a $280.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. salesforce.com has a consensus rating of “Buy” and an average target price of $275.33.
In other news, insider Parker Harris sold 4,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 30th. The stock was sold at an average price of $209.53, for a total value of $900,979.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 68,398 shares of the business’s stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $231.58, for a total value of $15,839,608.84. The disclosure for this sale can be found here. Insiders sold a total of 223,670 shares of company stock worth $51,713,672 in the last 90 days. Company insiders own 4.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Cobblestone Capital Advisors LLC NY lifted its stake in salesforce.com by 2.8% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 1,632 shares of the CRM provider’s stock valued at $363,000 after purchasing an additional 45 shares during the last quarter. Hengehold Capital Management LLC lifted its stake in salesforce.com by 2.1% in the fourth quarter. Hengehold Capital Management LLC now owns 2,235 shares of the CRM provider’s stock valued at $497,000 after purchasing an additional 46 shares during the last quarter. RFG Advisory LLC lifted its stake in salesforce.com by 4.5% in the first quarter. RFG Advisory LLC now owns 1,108 shares of the CRM provider’s stock valued at $235,000 after purchasing an additional 48 shares during the last quarter. Opal Wealth Advisors LLC lifted its stake in salesforce.com by 4.2% in the first quarter. Opal Wealth Advisors LLC now owns 1,212 shares of the CRM provider’s stock valued at $257,000 after purchasing an additional 49 shares during the last quarter. Finally, Northern Oak Wealth Management Inc. lifted its stake in salesforce.com by 13.6% in the fourth quarter. Northern Oak Wealth Management Inc. now owns 417 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 76.13% of the company’s stock.
Shares of NYSE:CRM opened at $242.78 on Monday. The company has a market cap of $224.81 billion, a price-to-earnings ratio of 50.79, a P/E/G ratio of 8.15 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.33 and a current ratio of 1.33. salesforce.com has a 12-month low of $180.00 and a 12-month high of $284.50. The stock’s fifty day moving average is $229.43.
salesforce.com Company Profile
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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