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Equities research analysts expect that salesforce.com, inc. (NYSE:CRM) will post sales of $3.95 billion for the current quarter, according to Zacks. Thirteen analysts have provided estimates for salesforce.com’s earnings. The highest sales estimate is $3.97 billion and the lowest is $3.94 billion. salesforce.com posted sales of $3.28 billion during the same quarter last year, which suggests a positive year over year growth rate of 20.4%. The company is scheduled to report its next quarterly earnings results on Wednesday, September 4th.
According to Zacks, analysts expect that salesforce.com will report full-year sales of $16.56 billion for the current year, with estimates ranging from $16.49 billion to $16.65 billion. For the next year, analysts anticipate that the firm will report sales of $20.65 billion, with estimates ranging from $20.14 billion to $20.97 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover salesforce.com.
salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.61 by $0.32. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the business earned $0.74 earnings per share. salesforce.com’s revenue for the quarter was up 24.3% compared to the same quarter last year.
CRM has been the topic of several recent analyst reports. SunTrust Banks restated a “hold” rating and set a $60.00 price objective on shares of Tripadvisor in a report on Tuesday, June 11th. Monness Crespi & Hardt restated a “buy” rating and set a $200.00 price objective (up previously from $195.00) on shares of salesforce.com in a report on Wednesday, June 5th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Jefferies Financial Group set a $189.00 price objective on salesforce.com and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. upgraded ROYAL MAIL PLC/ADR from an “underweight” rating to a “neutral” rating in a report on Monday, June 3rd. Three investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the company’s stock. salesforce.com has an average rating of “Buy” and an average target price of $180.11.
NYSE CRM opened at $159.75 on Thursday. The business’s 50-day moving average is $154.89. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. The firm has a market cap of $122.38 billion, a P/E ratio of 110.17, a PEG ratio of 5.79 and a beta of 1.28. salesforce.com has a 1 year low of $113.60 and a 1 year high of $167.56.
In related news, insider Mark J. Hawkins sold 846 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.01, for a total value of $140,444.46. Following the completion of the sale, the insider now owns 20,316 shares of the company’s stock, valued at approximately $3,372,659.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Joe Allanson sold 327 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $153.55, for a total value of $50,210.85. Following the completion of the sale, the chief accounting officer now directly owns 30,619 shares of the company’s stock, valued at approximately $4,701,547.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 341,942 shares of company stock worth $53,343,721. Company insiders own 5.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CRM. Avondale Wealth Management grew its stake in shares of salesforce.com by 100.0% in the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock valued at $25,000 after buying an additional 80 shares in the last quarter. Citizens Financial Group Inc RI bought a new stake in salesforce.com during the first quarter worth approximately $27,000. CX Institutional boosted its position in salesforce.com by 426.5% during the first quarter. CX Institutional now owns 179 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 145 shares during the period. Arcadia Investment Management Corp MI boosted its position in salesforce.com by 63.0% during the first quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 68 shares during the period. Finally, Avestar Capital LLC boosted its position in salesforce.com by 108.7% during the first quarter. Avestar Capital LLC now owns 192 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 100 shares during the period. 81.58% of the stock is owned by institutional investors and hedge funds.
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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