Brokerages predict that salesforce.com, inc. (NYSE:CRM) will post $3.37 billion in sales for the current quarter, according to Zacks. Fifteen analysts have provided estimates for salesforce.com’s earnings, with the lowest sales estimate coming in at $3.36 billion and the highest estimate coming in at $3.41 billion. salesforce.com posted sales of $2.68 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 25.7%. The firm is expected to report its next earnings results on Tuesday, November 20th.
According to Zacks, analysts expect that salesforce.com will report full year sales of $13.17 billion for the current financial year, with estimates ranging from $13.15 billion to $13.25 billion. For the next year, analysts anticipate that the company will report sales of $15.81 billion, with estimates ranging from $15.57 billion to $16.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow salesforce.com.
salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 29th. The CRM provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.24. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.23 billion. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. salesforce.com’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 earnings per share.
A number of research analysts recently commented on CRM shares. Royal Bank of Canada boosted their price target on salesforce.com to $182.00 in a research note on Thursday, September 27th. They noted that the move was a valuation call. Credit Suisse Group set a $170.00 price target on salesforce.com and gave the company a “buy” rating in a research note on Wednesday, August 15th. UBS Group boosted their price target on salesforce.com from $153.00 to $168.00 and gave the company a “buy” rating in a research note on Wednesday, August 15th. Stifel Nicolaus boosted their price target on salesforce.com from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. Finally, Societe Generale set a $170.00 price target on salesforce.com and gave the company a “buy” rating in a research note on Tuesday, August 14th. Six investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $164.85.
In other news, Vice Chairman Keith Block sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $148.44, for a total value of $1,484,400.00. Following the completion of the transaction, the insider now owns 30,647 shares of the company’s stock, valued at $4,549,240.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Amy E. Weaver sold 494 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $147.23, for a total value of $72,731.62. Following the completion of the transaction, the general counsel now directly owns 20,764 shares of the company’s stock, valued at approximately $3,057,083.72. The disclosure for this sale can be found here. In the last ninety days, insiders bought 24,000 shares of company stock valued at $3,581,220 and sold 537,576 shares valued at $81,374,673. Corporate insiders own 6.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. American Financial Network Advisory Services LLC boosted its holdings in salesforce.com by 6,583.7% in the third quarter. American Financial Network Advisory Services LLC now owns 5,748 shares of the CRM provider’s stock valued at $914,000 after acquiring an additional 5,662 shares during the last quarter. Polaris Greystone Financial Group LLC bought a new stake in salesforce.com in the third quarter valued at approximately $220,000. Empirical Finance LLC bought a new stake in salesforce.com in the third quarter valued at approximately $204,000. First Citizens Bank & Trust Co. boosted its holdings in salesforce.com by 3.2% in the third quarter. First Citizens Bank & Trust Co. now owns 21,531 shares of the CRM provider’s stock valued at $3,424,000 after acquiring an additional 673 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in salesforce.com by 50.0% in the third quarter. Huntington National Bank now owns 42,035 shares of the CRM provider’s stock valued at $6,684,000 after acquiring an additional 14,006 shares during the last quarter. 82.86% of the stock is owned by institutional investors.
CRM stock opened at $140.49 on Friday. The stock has a market capitalization of $106.31 billion, a P/E ratio of 120.08, a P/E/G ratio of 4.62 and a beta of 1.27. salesforce.com has a 52 week low of $97.33 and a 52 week high of $161.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80.
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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