Equities analysts predict that salesforce.com, inc. (NYSE:CRM) will report $5.68 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Fourteen analysts have issued estimates for salesforce.com’s earnings. The highest sales estimate is $5.75 billion and the lowest is $5.67 billion. salesforce.com reported sales of $4.85 billion during the same quarter last year, which would suggest a positive year over year growth rate of 17.1%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, February 25th.
On average, analysts expect that salesforce.com will report full year sales of $21.11 billion for the current fiscal year, with estimates ranging from $21.10 billion to $21.18 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $25.35 billion, with estimates ranging from $24.77 billion to $25.55 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow salesforce.com.
salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Monday, November 30th. The CRM provider reported $1.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.99. salesforce.com had a net margin of 17.53% and a return on equity of 6.63%. The firm had revenue of $5.42 million for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The company’s quarterly revenue was down 99.9% compared to the same quarter last year.
Several equities research analysts have recently issued reports on the stock. Raymond James increased their price objective on shares of salesforce.com from $255.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, December 2nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded shares of salesforce.com from a “buy” rating to a “neutral” rating and set a $250.00 target price for the company. in a research report on Wednesday, December 2nd. Mizuho raised their target price on shares of salesforce.com from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, February 17th. Barclays set a $276.00 target price on shares of salesforce.com and gave the company a “buy” rating in a research report on Wednesday, December 9th. Finally, Truist reaffirmed a “buy” rating on shares of salesforce.com in a research report on Tuesday, December 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. salesforce.com presently has a consensus rating of “Buy” and an average target price of $264.83.
CRM traded down $5.31 during mid-day trading on Tuesday, hitting $235.64. The stock had a trading volume of 8,633,997 shares, compared to its average volume of 7,034,703. The stock’s fifty day simple moving average is $229.01 and its 200-day simple moving average is $237.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $215.61 billion, a price-to-earnings ratio of 61.28, a price-to-earnings-growth ratio of 5.42 and a beta of 1.17. salesforce.com has a 1-year low of $115.29 and a 1-year high of $284.50.
In other salesforce.com news, CAO Joe Allanson sold 313 shares of the firm’s stock in a transaction dated Wednesday, December 23rd. The shares were sold at an average price of $229.36, for a total value of $71,789.68. Following the transaction, the chief accounting officer now directly owns 31,439 shares of the company’s stock, valued at approximately $7,210,849.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark J. Hawkins sold 5,486 shares of the firm’s stock in a transaction dated Tuesday, December 22nd. The shares were sold at an average price of $227.00, for a total transaction of $1,245,322.00. Following the completion of the transaction, the chief financial officer now directly owns 15,965 shares in the company, valued at $3,624,055. The disclosure for this sale can be found here. Insiders sold a total of 73,144 shares of company stock valued at $16,619,830 in the last quarter. Corporate insiders own 4.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CRM. Dimension Capital Management LLC bought a new stake in shares of salesforce.com during the 3rd quarter valued at approximately $26,000. Trustcore Financial Services LLC grew its holdings in shares of salesforce.com by 116.9% during the 3rd quarter. Trustcore Financial Services LLC now owns 128 shares of the CRM provider’s stock valued at $32,000 after purchasing an additional 69 shares during the last quarter. First Personal Financial Services bought a new stake in shares of salesforce.com during the 4th quarter valued at approximately $32,000. Pacific Center for Financial Services grew its holdings in shares of 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 valued at $32,000 after purchasing an additional 134 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of salesforce.com by 93.4% during the 4th quarter. Larson Financial Group LLC now owns 147 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. 80.20% of the stock is currently owned by hedge funds and other institutional investors.
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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