Equities analysts predict that salesforce.com, inc. (NYSE:CRM) will report $2.94 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Thirteen analysts have made estimates for salesforce.com’s earnings, with estimates ranging from $2.93 billion to $2.96 billion. salesforce.com reported sales of $2.39 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 23%. The company is expected to issue its next earnings report on Thursday, May 17th.
According to Zacks, analysts expect that salesforce.com will report full-year sales of $2.94 billion for the current year, with estimates ranging from $12.60 billion to $12.80 billion. For the next financial year, analysts forecast that the company will report sales of $15.07 billion per share, with estimates ranging from $14.86 billion to $15.37 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for salesforce.com.
salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. salesforce.com had a return on equity of 3.86% and a net margin of 1.22%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the business posted $0.28 earnings per share. The company’s quarterly revenue was up 24.3% compared to the same quarter last year.
A number of brokerages have issued reports on CRM. Credit Suisse Group upped their price objective on salesforce.com from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, November 17th. SunTrust Banks upped their price objective on salesforce.com to $133.00 and gave the company a “buy” rating in a research report on Thursday, March 1st. Needham & Company LLC restated a “hold” rating on shares of salesforce.com in a research report on Wednesday, November 22nd. BMO Capital Markets upped their price objective on salesforce.com from $112.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, November 22nd. Finally, Goldman Sachs Group set a $122.00 price objective on salesforce.com and gave the company a “buy” rating in a research report on Thursday, November 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and forty-four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $122.77.
In other news, Director Craig Conway sold 250 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $110.85, for a total transaction of $27,712.50. Following the completion of the sale, the director now owns 8,908 shares in the company, valued at approximately $987,451.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark J. Hawkins sold 39,780 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $103.72, for a total value of $4,125,981.60. Following the sale, the insider now owns 58,719 shares of the company’s stock, valued at approximately $6,090,334.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,337 shares of company stock valued at $31,729,390. Company insiders own 6.20% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Sandy Spring Bank lifted its holdings in shares of salesforce.com by 1.7% during the 4th quarter. Sandy Spring Bank now owns 27,382 shares of the CRM provider’s stock valued at $2,799,000 after purchasing an additional 470 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in shares of salesforce.com by 16.3% during the 3rd quarter. King Luther Capital Management Corp now owns 3,414 shares of the CRM provider’s stock valued at $319,000 after purchasing an additional 479 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of salesforce.com by 17.5% during the 4th quarter. Cetera Advisors LLC now owns 3,259 shares of the CRM provider’s stock valued at $334,000 after purchasing an additional 485 shares during the last quarter. BB&T Corp lifted its holdings in shares of salesforce.com by 2.6% during the 4th quarter. BB&T Corp now owns 20,751 shares of the CRM provider’s stock valued at $2,121,000 after purchasing an additional 533 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC lifted its holdings in shares of salesforce.com by 23.6% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 2,826 shares of the CRM provider’s stock valued at $289,000 after purchasing an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.
Shares of salesforce.com (NYSE:CRM) opened at $127.41 on Friday. salesforce.com has a 52-week low of $80.50 and a 52-week high of $127.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.82 and a current ratio of 0.92. The stock has a market capitalization of $92,028.24, a P/E ratio of 749.51, a price-to-earnings-growth ratio of 5.86 and a beta of 1.25.
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Salesforce.com, Inc is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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