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S&P 500   3,655.04
DOW   29,260.81
QQQ   274.37
This Device Makes Creating Voice Memos Easy
The 3-Stock Retirement Blueprint (Ad)
Three Consumer Stocks That Could Outperform In Q4 
Will Synthetic Biology Firm Amyris Post Net Income In 2024?
One Stock Doubles Your Money, During Crisis? (Ad)
Comcast is an Asset Bonanza Priced Cheap
US stocks slip deeper into a slump as recession fears grow
One Stock Doubles Your Money, During Crisis? (Ad)
British pound plunges to new low as tax cuts spark concern
Lights out, ovens off: Europe preps for winter energy crisis
S&P 500   3,655.04
DOW   29,260.81
QQQ   274.37
This Device Makes Creating Voice Memos Easy
The 3-Stock Retirement Blueprint (Ad)
Three Consumer Stocks That Could Outperform In Q4 
Will Synthetic Biology Firm Amyris Post Net Income In 2024?
One Stock Doubles Your Money, During Crisis? (Ad)
Comcast is an Asset Bonanza Priced Cheap
US stocks slip deeper into a slump as recession fears grow
One Stock Doubles Your Money, During Crisis? (Ad)
British pound plunges to new low as tax cuts spark concern
Lights out, ovens off: Europe preps for winter energy crisis
S&P 500   3,655.04
DOW   29,260.81
QQQ   274.37
This Device Makes Creating Voice Memos Easy
The 3-Stock Retirement Blueprint (Ad)
Three Consumer Stocks That Could Outperform In Q4 
Will Synthetic Biology Firm Amyris Post Net Income In 2024?
One Stock Doubles Your Money, During Crisis? (Ad)
Comcast is an Asset Bonanza Priced Cheap
US stocks slip deeper into a slump as recession fears grow
One Stock Doubles Your Money, During Crisis? (Ad)
British pound plunges to new low as tax cuts spark concern
Lights out, ovens off: Europe preps for winter energy crisis

Q2 2024 Earnings Estimate for Salesforce, Inc. Issued By KeyCorp (NYSE:CRM)

Salesforce, Inc. (NYSE:CRM - Get Rating) - Analysts at KeyCorp lowered their Q2 2024 EPS estimates for shares of Salesforce in a report released on Thursday, September 22nd. KeyCorp analyst M. Turits now expects that the CRM provider will earn $0.79 per share for the quarter, down from their previous estimate of $0.80. The consensus estimate for Salesforce's current full-year earnings is $2.20 per share. KeyCorp also issued estimates for Salesforce's Q4 2024 earnings at $0.76 EPS, FY2024 earnings at $2.98 EPS, FY2025 earnings at $4.18 EPS and FY2026 earnings at $5.80 EPS.

A number of other analysts have also weighed in on the stock. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating and set a $150.00 price objective on the stock in a research report on Friday, September 2nd. Wedbush reduced their price objective on shares of Salesforce from $225.00 to $215.00 and set an "outperform" rating on the stock in a research report on Thursday, August 25th. Canaccord Genuity Group reduced their price objective on shares of Salesforce from $260.00 to $215.00 and set a "buy" rating on the stock in a research report on Thursday, August 25th. William Blair reissued an "outperform" rating on shares of Salesforce in a research report on Wednesday, June 1st. Finally, Cowen reduced their price objective on shares of Salesforce from $225.00 to $210.00 and set an "outperform" rating on the stock in a research report on Thursday, August 25th. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and an average target price of $236.84.

Salesforce Stock Down 2.1 %


Shares of NYSE CRM opened at $147.01 on Monday. The firm's 50-day moving average price is $171.44 and its 200-day moving average price is $178.05. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $147.01 billion, a price-to-earnings ratio of 272.24, a P/E/G ratio of 3.99 and a beta of 1.12. Salesforce has a 12-month low of $144.79 and a 12-month high of $311.75.

Salesforce (NYSE:CRM - Get Rating) last announced its earnings results on Wednesday, August 24th. The CRM provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.15. The firm had revenue of $7.72 billion for the quarter, compared to analysts' expectations of $7.70 billion. Salesforce had a net margin of 1.83% and a return on equity of 3.32%. The business's revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 EPS.

Salesforce declared that its board has authorized a share repurchase program on Wednesday, August 24th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the CRM provider to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction on Friday, July 1st. The shares were sold at an average price of $166.81, for a total transaction of $383,663.00. Following the completion of the sale, the chief executive officer now directly owns 27,761,368 shares in the company, valued at $4,630,873,796.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Salesforce news, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction on Friday, July 1st. The shares were sold at an average price of $166.81, for a total value of $383,663.00. Following the completion of the transaction, the chief executive officer now owns 27,761,368 shares of the company's stock, valued at $4,630,873,796.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 568 shares of Salesforce stock in a transaction on Monday, July 25th. The shares were sold at an average price of $177.87, for a total transaction of $101,030.16. Following the completion of the transaction, the insider now directly owns 93,650 shares of the company's stock, valued at approximately $16,657,525.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,946 shares of company stock worth $11,919,202. Company insiders own 3.60% of the company's stock.

Institutional Trading of Salesforce

Several institutional investors have recently modified their holdings of CRM. Continuum Advisory LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at about $220,000. Stonebridge Capital Advisors LLC grew its position in shares of Salesforce by 15.7% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 2,833 shares of the CRM provider's stock valued at $720,000 after purchasing an additional 385 shares during the period. Impax Asset Management Group plc grew its position in shares of Salesforce by 4.7% in the fourth quarter. Impax Asset Management Group plc now owns 176,056 shares of the CRM provider's stock valued at $44,741,000 after purchasing an additional 7,879 shares during the period. Journey Strategic Wealth LLC acquired a new position in Salesforce during the fourth quarter worth about $312,000. Finally, Wahed Invest LLC acquired a new position in Salesforce during the fourth quarter worth about $2,854,000. Institutional investors and hedge funds own 77.02% of the company's stock.

About Salesforce

(Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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Earnings History and Estimates for Salesforce (NYSE:CRM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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