Wall Street analysts expect salesforce.com, inc. (NYSE:CRM) to post $3.68 billion in sales for the current quarter, Zacks Investment Research reports. Fourteen analysts have provided estimates for salesforce.com’s earnings, with the highest sales estimate coming in at $3.71 billion and the lowest estimate coming in at $3.67 billion. salesforce.com posted sales of $3.01 billion in the same quarter last year, which suggests a positive year over year growth rate of 22.3%. The firm is scheduled to issue its next earnings report on Tuesday, June 4th.
According to Zacks, analysts expect that salesforce.com will report full-year sales of $16.02 billion for the current financial year, with estimates ranging from $15.96 billion to $16.11 billion. For the next year, analysts anticipate that the company will post sales of $19.18 billion, with estimates ranging from $18.75 billion to $19.72 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 issued its earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.14. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the prior year, the business earned $0.35 EPS.
CRM has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of salesforce.com from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Macquarie raised their price target on shares of salesforce.com from $174.00 to $188.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Royal Bank of Canada restated a “buy” rating and issued a $182.00 price target on shares of salesforce.com in a report on Wednesday, November 28th. Robert W. Baird raised their price target on shares of salesforce.com from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Finally, Zacks Investment Research cut shares of salesforce.com from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $177.82.
In other salesforce.com news, CEO Keith Block sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $159.53, for a total transaction of $797,650.00. Following the completion of the transaction, the chief executive officer now directly owns 29,089 shares of the company’s stock, valued at approximately $4,640,568.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $159.36, for a total transaction of $1,593,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 548,729 shares of company stock valued at $79,673,057 over the last three months. 6.00% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of salesforce.com by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 54,471,296 shares of the CRM provider’s stock valued at $8,662,570,000 after purchasing an additional 2,398,648 shares in the last quarter. Vanguard Group Inc grew its stake in salesforce.com by 4.6% in the 3rd quarter. Vanguard Group Inc now owns 54,471,296 shares of the CRM provider’s stock valued at $8,662,570,000 after acquiring an additional 2,398,648 shares during the period. BlackRock Inc. grew its stake in salesforce.com by 9.2% in the 4th quarter. BlackRock Inc. now owns 51,270,156 shares of the CRM provider’s stock valued at $7,022,474,000 after acquiring an additional 4,321,630 shares during the period. Oregon Public Employees Retirement Fund grew its stake in salesforce.com by 29,364.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,716,594 shares of the CRM provider’s stock valued at $159,000 after acquiring an additional 21,642,889 shares during the period. Finally, Jennison Associates LLC grew its stake in salesforce.com by 18.3% in the 4th quarter. Jennison Associates LLC now owns 19,671,694 shares of the CRM provider’s stock valued at $2,694,432,000 after acquiring an additional 3,041,293 shares during the period. 82.84% of the stock is owned by hedge funds and other institutional investors.
salesforce.com stock traded up $0.84 during midday trading on Friday, hitting $161.51. 6,743,651 shares of the company’s stock were exchanged, compared to its average volume of 5,864,269. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.95 and a quick ratio of 0.86. salesforce.com has a 12 month low of $111.34 and a 12 month high of $166.15. The stock has a market cap of $122.03 billion, a price-to-earnings ratio of 111.39, a PEG ratio of 5.26 and a beta of 1.40.
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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