DA Davidson Weighs in on Salesforce.com Inc.’s FY2017 Earnings (CRM)
Salesforce.com Inc. (NYSE:CRM) – Equities researchers at DA Davidson upped their FY2017 earnings estimates for Salesforce.com in a note issued to investors on Tuesday. DA Davidson analyst J. Andrews now anticipates that the brokerage will post earnings of $0.31 per share for the year, up from their previous forecast of $0.30. DA Davidson currently has a “Neutral” rating and a $80.00 target price on the stock.
A number of other equities research analysts also recently weighed in on the company. Raymond James Financial Inc. set a $105.00 price objective on Salesforce.com and gave the company a “buy” rating in a report on Sunday, September 4th. FBN Securities set a $90.00 price objective on Salesforce.com and gave the company a “buy” rating in a report on Sunday, September 4th. Vetr downgraded Salesforce.com from a “buy” rating to a “hold” rating and set a $83.58 price objective on the stock. in a report on Monday, July 11th. Brean Capital reaffirmed a “buy” rating and set a $110.00 price objective on shares of Salesforce.com in a report on Thursday. Finally, Stephens assumed coverage on Salesforce.com in a report on Tuesday, August 2nd. They set an “overweight” rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $92.56.
Shares of Salesforce.com (NYSE:CRM) traded down 0.49% during trading on Thursday, hitting $70.91. The stock had a trading volume of 6,707,404 shares. Salesforce.com has a 52 week low of $52.60 and a 52 week high of $84.48. The stock has a market capitalization of $48.57 billion, a price-to-earnings ratio of 218.86 and a beta of 1.59. The stock’s 50 day moving average is $74.35 and its 200 day moving average is $77.70.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis.
In related news, CEO Marc Benioff sold 12,500 shares of Salesforce.com stock in a transaction on Monday, July 11th. The shares were sold at an average price of $81.57, for a total transaction of $1,019,625.00. Following the completion of the transaction, the chief executive officer now owns 35,383,000 shares of the company’s stock, valued at $2,886,191,310. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Amy E. Weaver sold 9,381 shares of Salesforce.com stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $71.08, for a total transaction of $666,801.48. Following the transaction, the executive vice president now directly owns 23,261 shares of the company’s stock, valued at approximately $1,653,391.88. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Salesforce.com by 3.1% in the second quarter. Vanguard Group Inc. now owns 39,426,135 shares of the CRM provider’s stock worth $3,130,829,000 after buying an additional 1,181,756 shares in the last quarter. Jennison Associates LLC increased its stake in Salesforce.com by 0.9% in the second quarter. Jennison Associates LLC now owns 20,109,339 shares of the CRM provider’s stock valued at $1,596,883,000 after buying an additional 183,663 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Salesforce.com by 0.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 16,394,124 shares of the CRM provider’s stock valued at $1,301,857,000 after buying an additional 127,481 shares during the period. Ameriprise Financial Inc. increased its stake in Salesforce.com by 4.5% in the second quarter. Ameriprise Financial Inc. now owns 8,227,065 shares of the CRM provider’s stock valued at $653,308,000 after buying an additional 353,274 shares during the period. Finally, Baillie Gifford & Co. increased its stake in Salesforce.com by 0.7% in the second quarter. Baillie Gifford & Co. now owns 6,981,936 shares of the CRM provider’s stock valued at $554,435,000 after buying an additional 47,955 shares during the period. 87.23% of the stock is owned by institutional investors and hedge funds.
Salesforce.com Company Profile
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
Receive News & Stock Ratings for Salesforce.com Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce.com Inc. and related stocks with our FREE daily email newsletter.