Brokerages forecast that Salesforce.com Inc (NYSE:CRM) will announce $2.52 billion in sales for the current quarter, according to Zacks Investment Research. Thirteen analysts have provided estimates for Salesforce.com’s earnings. The highest sales estimate is $2.54 billion and the lowest is $2.50 billion. Salesforce.com reported sales of $2.04 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 23.5%. The business is scheduled to issue its next earnings report after the market closes on Tuesday, August 22nd.
On average, analysts expect that Salesforce.com will report full-year sales of $2.52 billion for the current fiscal year, with estimates ranging from $10.18 billion to $10.41 billion. For the next financial year, analysts expect that the company will report sales of $12.33 billion per share, with estimates ranging from $12.02 billion to $12.63 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Salesforce.com.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Salesforce.com had a net margin of 1.49% and a return on equity of 1.80%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.
A number of brokerages have issued reports on CRM. Credit Suisse Group began coverage on Salesforce.com in a research note on Tuesday, August 1st. They issued an “outperform” rating and a $110.00 price target on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $102.00 price target (up from $100.00) on shares of Salesforce.com in a research note on Friday, May 19th. Zacks Investment Research lowered Salesforce.com from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Jefferies Group LLC reissued a “hold” rating and issued a $80.00 price target on shares of Salesforce.com in a research note on Monday, May 22nd. Finally, Benchmark Co. raised their price target on Salesforce.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and forty have given a buy rating to the company. Salesforce.com has a consensus rating of “Buy” and an average target price of $97.41.
In other news, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $87.19, for a total value of $871,900.00. Following the sale, the chairman now owns 34,195,300 shares of the company’s stock, valued at approximately $2,981,488,207. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 8,027 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $91.30, for a total value of $732,865.10. Following the completion of the sale, the insider now directly owns 49,913 shares in the company, valued at approximately $4,557,056.90. The disclosure for this sale can be found here. Insiders have sold a total of 1,418,005 shares of company stock valued at $127,427,385 in the last quarter. 6.70% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. First Personal Financial Services raised its stake in shares of Salesforce.com by 1.6% in the second quarter. First Personal Financial Services now owns 1,636 shares of the CRM provider’s stock worth $142,000 after buying an additional 25 shares during the period. Appropriate Balance Financial Services Inc. raised its stake in shares of Salesforce.com by 6.9% in the second quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock worth $5,928,000 after buying an additional 33 shares during the period. Intrust Bank NA raised its stake in shares of Salesforce.com by 0.4% in the first quarter. Intrust Bank NA now owns 8,862 shares of the CRM provider’s stock worth $731,000 after buying an additional 36 shares during the period. Boston Private Wealth LLC raised its stake in shares of Salesforce.com by 0.3% in the second quarter. Boston Private Wealth LLC now owns 12,607 shares of the CRM provider’s stock worth $1,092,000 after buying an additional 38 shares during the period. Finally, King Luther Capital Management Corp raised its stake in shares of Salesforce.com by 1.3% in the first quarter. King Luther Capital Management Corp now owns 3,233 shares of the CRM provider’s stock worth $267,000 after buying an additional 43 shares during the period. 85.87% of the stock is currently owned by institutional investors.
Salesforce.com (NYSE:CRM) opened at 90.50 on Tuesday. Salesforce.com has a 12 month low of $66.43 and a 12 month high of $92.13. The firm has a market cap of $64.45 billion, a PE ratio of 478.84 and a beta of 1.29. The stock’s 50 day moving average is $88.60 and its 200 day moving average is $85.06.
Salesforce.com Company Profile
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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