Brokerages expect salesforce.com, inc. (NYSE:CRM) to post $7.23 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have made estimates for salesforce.com's earnings, with the lowest sales estimate coming in at $7.22 billion and the highest estimate coming in at $7.23 billion. salesforce.com reported sales of $5.82 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 24.2%. The business is scheduled to announce its next quarterly earnings report on Thursday, February 24th.
According to Zacks, analysts expect that salesforce.com will report full year sales of $26.40 billion for the current year, with estimates ranging from $26.39 billion to $26.40 billion. For the next year, analysts anticipate that the business will post sales of $31.75 billion, with estimates ranging from $31.70 billion to $31.80 billion. Zacks' sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for salesforce.com.
salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, November 30th. The CRM provider reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.92 by $0.35. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.80 billion. salesforce.com had a net margin of 6.96% and a return on equity of 5.71%. salesforce.com's revenue was up 26.6% compared to the same quarter last year. During the same period last year, the company posted $1.27 earnings per share.
Several equities analysts have issued reports on CRM shares. TheStreet lowered shares of salesforce.com from a "b-" rating to a "c+" rating in a report on Thursday, December 2nd. Nord/LB set a $275.00 price objective on shares of salesforce.com in a research note on Tuesday, September 14th. Robert W. Baird reiterated a "buy" rating and set a $315.00 price objective on shares of salesforce.com in a research note on Sunday, September 26th. Stifel Nicolaus lifted their price objective on shares of salesforce.com from $315.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 24th. Finally, Oppenheimer lifted their price objective on shares of salesforce.com from $290.00 to $310.00 and gave the stock an "outperform" rating in a research note on Friday, September 24th. Six investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, salesforce.com has a consensus rating of "Buy" and an average price target of $325.49.
In other news, insider Parker Harris sold 4,300 shares of the business's stock in a transaction on Tuesday, October 5th. The shares were sold at an average price of $272.51, for a total transaction of $1,171,793.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 510 shares of the business's stock in a transaction on Monday, October 25th. The stock was sold at an average price of $293.19, for a total transaction of $149,526.90. The disclosure for this sale can be found here. Insiders sold 465,699 shares of company stock valued at $132,792,192 in the last quarter. Company insiders own 4.10% of the company's stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Joseph P. Lucia & Associates LLC increased its stake in salesforce.com by 761.5% during the third quarter. Joseph P. Lucia & Associates LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 99 shares during the last quarter. Rosenberg Matthew Hamilton bought a new stake in salesforce.com during the third quarter valued at $34,000. First Personal Financial Services increased its stake in salesforce.com by 83.3% during the third quarter. First Personal Financial Services now owns 132 shares of the CRM provider's stock valued at $36,000 after purchasing an additional 60 shares during the last quarter. MCF Advisors LLC bought a new stake in salesforce.com during the third quarter valued at $39,000. Finally, Costello Asset Management INC increased its stake in salesforce.com by 83.3% during the third quarter. Costello Asset Management INC now owns 154 shares of the CRM provider's stock valued at $42,000 after purchasing an additional 70 shares during the last quarter. 73.41% of the stock is currently owned by hedge funds and other institutional investors.
NYSE CRM opened at $254.13 on Monday. The firm's fifty day simple moving average is $280.20 and its two-hundred day simple moving average is $265.71. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19. salesforce.com has a 12-month low of $201.51 and a 12-month high of $311.75. The firm has a market capitalization of $250.32 billion, a P/E ratio of 140.40, a P/E/G ratio of 6.25 and a beta of 1.10.
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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