salesforce.com (NYSE:CRM) updated its FY 2020 earnings guidance on Thursday. The company provided EPS guidance of $2.82-2.84 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.65. The company issued revenue guidance of $16.9-16.9 billion, compared to the consensus revenue estimate of $16.66 billion.salesforce.com also updated its Q3 2020 guidance to $0.65-0.66 EPS.
A number of research firms recently weighed in on CRM. Royal Bank of Canada reaffirmed a buy rating and set a $181.00 price objective on shares of salesforce.com in a research report on Monday, June 17th. Bank of America reaffirmed a buy rating and set a $200.00 price objective on shares of salesforce.com in a research report on Wednesday, June 5th. OTR Global raised shares of salesforce.com to a positive rating in a research report on Thursday, August 15th. ValuEngine cut shares of salesforce.com from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Sanford C. Bernstein reaffirmed a neutral rating and set a $169.00 price objective on shares of salesforce.com in a research report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $179.79.
Shares of CRM traded up $0.86 during midday trading on Thursday, reaching $148.24. The stock had a trading volume of 8,735,481 shares, compared to its average volume of 5,963,078. salesforce.com has a 1-year low of $113.60 and a 1-year high of $167.56. The company’s fifty day simple moving average is $151.52 and its two-hundred day simple moving average is $156.22. The company has a market cap of $111.49 billion, a price-to-earnings ratio of 102.23, a PEG ratio of 5.24 and a beta of 1.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96.
salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period last year, the business earned $0.74 EPS. The company’s revenue was up 24.3% on a year-over-year basis. On average, sell-side analysts forecast that salesforce.com will post 1.26 earnings per share for the current year.
In other news, CAO Joe Allanson sold 168 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $153.88, for a total value of $25,851.84. Following the sale, the chief accounting officer now directly owns 30,641 shares in the company, valued at approximately $4,715,037.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $149.88, for a total transaction of $1,498,800.00. The disclosure for this sale can be found here. Insiders sold a total of 292,406 shares of company stock worth $44,508,186 over the last 90 days. Company 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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