Brokerages expect salesforce.com, inc. (NYSE:CRM) to post sales of $5.88 billion for the current quarter, Zacks reports. Thirteen analysts have made estimates for salesforce.com’s earnings, with the highest sales estimate coming in at $5.89 billion and the lowest estimate coming in at $5.88 billion. salesforce.com reported sales of $4.87 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 20.7%. The business is expected to announce its next quarterly earnings results on Thursday, May 27th.
According to Zacks, analysts expect that salesforce.com will report full year sales of $25.70 billion for the current financial year, with estimates ranging from $25.55 billion to $25.77 billion. For the next year, analysts anticipate that the firm will post sales of $30.50 billion, with estimates ranging from $29.92 billion to $31.23 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow salesforce.com.
salesforce.com (NYSE:CRM) last posted its earnings results on Thursday, February 25th. The CRM provider reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.74. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.68 billion. salesforce.com had a return on equity of 6.63% and a net margin of 17.53%.
A number of analysts have commented on the company. Nord/LB downgraded salesforce.com from a “buy” rating to a “hold” rating in a research report on Wednesday, March 24th. Mizuho boosted their target price on salesforce.com from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, February 17th. Bank of America reissued a “buy” rating and issued a $300.00 price target on shares of salesforce.com in a report on Monday, February 22nd. Zacks Investment Research cut salesforce.com from a “hold” rating to a “sell” rating and set a $232.00 price target for the company. in a report on Monday, March 1st. Finally, Sanford C. Bernstein set a $233.00 price target on salesforce.com and gave the stock a “neutral” rating in a report on Friday, February 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-five have issued a buy rating and three have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $269.03.
In related news, insider Parker Harris sold 4,300 shares of the stock in a transaction dated Tuesday, January 12th. The stock was sold at an average price of $215.92, for a total value of $928,456.00. Following the completion of the transaction, the insider now owns 69,445 shares of the company’s stock, valued at $14,994,564.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Joe Allanson sold 225 shares of the stock in a transaction dated Tuesday, March 23rd. The shares were sold at an average price of $215.95, for a total value of $48,588.75. Following the completion of the transaction, the chief accounting officer now directly owns 31,439 shares of the company’s stock, valued at approximately $6,789,252.05. The disclosure for this sale can be found here. Insiders sold 73,330 shares of company stock valued at $16,256,366 in the last ninety days. Company insiders own 4.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Dimension Capital Management LLC bought a new position in salesforce.com during the 3rd quarter worth approximately $26,000. Pacific Center for Financial Services lifted its holdings in salesforce.com by 1,340.0% during the 4th quarter. Pacific Center for Financial Services now owns 144 shares of the CRM provider’s stock worth $32,000 after buying an additional 134 shares during the last quarter. First Personal Financial Services bought a new position in salesforce.com during the 4th quarter worth approximately $32,000. Larson Financial Group LLC lifted its holdings in salesforce.com by 93.4% during the 4th quarter. Larson Financial Group LLC now owns 147 shares of the CRM provider’s stock worth $33,000 after buying an additional 71 shares during the last quarter. Finally, Flagship Private Wealth LLC bought a new position in salesforce.com during the 4th quarter worth approximately $33,000. 80.20% of the stock is currently owned by institutional investors.
CRM opened at $231.28 on Friday. The business’s fifty day moving average is $217.92 and its two-hundred day moving average is $233.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $213.01 billion, a price-to-earnings ratio of 60.39, a PEG ratio of 5.42 and a beta of 1.17. salesforce.com has a one year low of $148.00 and a one year high of $284.50.
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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