salesforce.com, inc. (NYSE:CRM) – Research analysts at Piper Jaffray Companies lowered their FY2020 earnings estimates for shares of salesforce.com in a research report issued to clients and investors on Wednesday, December 4th. Piper Jaffray Companies analyst B. Bracelin now expects that the CRM provider will earn $1.24 per share for the year, down from their previous forecast of $1.43. Piper Jaffray Companies currently has a “Overweight” rating and a $190.00 target price on the stock. Piper Jaffray Companies also issued estimates for salesforce.com’s Q4 2020 earnings at $0.08 EPS, Q1 2021 earnings at $0.19 EPS, Q2 2021 earnings at $0.29 EPS, Q3 2021 earnings at $0.34 EPS, Q4 2021 earnings at $0.35 EPS, FY2021 earnings at $1.16 EPS, Q1 2022 earnings at $0.38 EPS, Q2 2022 earnings at $0.46 EPS, Q3 2022 earnings at $0.53 EPS and FY2022 earnings at $1.89 EPS.
Several other research analysts have also issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and set a $195.00 price objective (up from $171.00) on shares of salesforce.com in a research note on Sunday, November 17th. Evercore ISI restated a “buy” rating and issued a $190.00 target price on shares of salesforce.com in a research note on Tuesday, November 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of salesforce.com in a report on Wednesday, December 4th. Zacks Investment Research cut shares of salesforce.com from a “buy” rating to a “hold” rating and set a $166.00 target price for the company. in a research report on Thursday, October 31st. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $185.00 target price (up previously from $175.00) on shares of salesforce.com in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $189.68.
Shares of NYSE:CRM opened at $158.01 on Monday. The business’s fifty day moving average price is $157.59 and its two-hundred day moving average price is $153.43. salesforce.com has a fifty-two week low of $120.16 and a fifty-two week high of $167.56. The stock has a market capitalization of $140.34 billion, a price-to-earnings ratio of 108.97, a price-to-earnings-growth ratio of 6.61 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 0.97.
salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.09. The business had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.45 billion. salesforce.com had a return on equity of 5.37% and a net margin of 4.64%. salesforce.com’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 EPS.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ibex Wealth Advisors acquired a new position in shares of salesforce.com in the 2nd quarter valued at $63,000. Meadow Creek Investment Management LLC increased its holdings in salesforce.com by 22.6% in the second quarter. Meadow Creek Investment Management LLC now owns 131,934 shares of the CRM provider’s stock valued at $20,018,000 after purchasing an additional 24,354 shares during the last quarter. Impax Asset Management Group plc lifted its stake in salesforce.com by 10.1% in the second quarter. Impax Asset Management Group plc now owns 102,272 shares of the CRM provider’s stock valued at $15,518,000 after buying an additional 9,383 shares during the period. MidWestOne Financial Group Inc. acquired a new position in salesforce.com in the second quarter valued at about $756,000. Finally, EP Wealth Advisors LLC boosted its holdings in salesforce.com by 23.0% during the second quarter. EP Wealth Advisors LLC now owns 2,527 shares of the CRM provider’s stock worth $383,000 after buying an additional 472 shares during the last quarter. 81.32% of the stock is owned by institutional investors and hedge funds.
In other salesforce.com news, CAO Joe Allanson sold 167 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $154.07, for a total transaction of $25,729.69. Following the transaction, the chief accounting officer now directly owns 30,958 shares in the company, valued at approximately $4,769,699.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $164.45, for a total transaction of $822,250.00. The disclosure for this sale can be found here. Insiders sold a total of 295,065 shares of company stock worth $46,100,332 over the last quarter. Corporate insiders own 5.50% of the company’s stock.
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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