salesforce.com (NYSE:CRM) Releases FY 2022 Earnings Guidance

salesforce.com (NYSE:CRM) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $4.360-$4.380 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.820. The company issued revenue guidance of $26.20 billion-$26.30 billion, compared to the consensus revenue estimate of $26.01 billion.salesforce.com also updated its Q3 2022 guidance to $0.910-$0.920 EPS.

NYSE:CRM traded up $0.84 during trading hours on Wednesday, reaching $255.21. The company’s stock had a trading volume of 105,886 shares, compared to its average volume of 6,409,822. The company has a market capitalization of $249.85 billion, a P/E ratio of 102.16, a price-to-earnings-growth ratio of 7.35 and a beta of 1.09. salesforce.com has a 12 month low of $201.51 and a 12 month high of $275.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a 50 day moving average price of $251.35 and a two-hundred day moving average price of $235.19.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.56. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The business had revenue of $6.34 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. As a group, analysts predict that salesforce.com will post 2.09 EPS for the current fiscal year.

CRM has been the topic of several analyst reports. Wolfe Research lifted their price target on shares of salesforce.com from $290.00 to $300.00 and gave the stock an outperform rating in a report on Thursday, August 26th. Sanford C. Bernstein boosted their price objective on shares of salesforce.com from $266.00 to $290.00 and gave the company a market perform rating in a report on Thursday, August 26th. Stifel Nicolaus boosted their price objective on shares of salesforce.com from $295.00 to $315.00 and gave the company a buy rating in a report on Thursday, August 26th. Loop Capital boosted their price objective on shares of salesforce.com from $235.00 to $265.00 and gave the company a hold rating in a report on Friday, August 27th. Finally, Robert W. Baird reissued a buy rating and set a $295.00 price objective on shares of salesforce.com in a report on Sunday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $298.33.

In related news, CEO Marc Benioff sold 20,000 shares of the company’s stock in a transaction dated Monday, September 13th. The shares were sold at an average price of $253.59, for a total transaction of $5,071,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Joe Allanson sold 151 shares of the company’s stock in a transaction dated Monday, July 26th. The shares were sold at an average price of $248.00, for a total transaction of $37,448.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 776,356 shares of company stock valued at $194,260,597. Insiders own 4.10% of the company’s stock.

An institutional investor recently raised its position in salesforce.com stock. Morgan Stanley grew its position in salesforce.com, inc. (NYSE:CRM) by 20.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,563,897 shares of the CRM provider’s stock after buying an additional 2,787,393 shares during the period. Morgan Stanley owned 1.79% of salesforce.com worth $4,046,065,000 as of its most recent SEC filing. 77.33% of the stock is currently owned by institutional investors and hedge funds.

salesforce.com Company Profile

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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Earnings History and Estimates for salesforce.com (NYSE:CRM)

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