DA Davidson Equities Analysts Cut Earnings Estimates for Salesforce.com Inc. (CRM)
Salesforce.com Inc. (NYSE:CRM) – Research analysts at DA Davidson lowered their Q3 2017 earnings estimates for Salesforce.com in a report released on Tuesday. DA Davidson analyst J. Andrews now forecasts that the firm will earn $0.06 per share for the quarter, down from their prior estimate of $0.07. DA Davidson has a “Neutral” rating and a $80.00 price target on the stock. DA Davidson also issued estimates for Salesforce.com’s Q3 2018 earnings at $0.15 EPS.
Several other equities analysts have also weighed in on CRM. Citigroup Inc. reduced their price objective on Salesforce.com from $97.00 to $94.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Morgan Stanley cut their price target on Salesforce.com from $110.00 to $94.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Stephens began coverage on Salesforce.com in a report on Tuesday, August 2nd. They issued an “overweight” rating for the company. MKM Partners reaffirmed a “buy” rating and issued a $96.00 price target on shares of Salesforce.com in a report on Friday, August 5th. Finally, Vetr raised Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 price target for the company in a report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $92.02.
Shares of Salesforce.com (NYSE:CRM) traded down 0.4664% during midday trading on Wednesday, reaching $73.6748. The company had a trading volume of 5,705,648 shares. Salesforce.com has a one year low of $52.60 and a one year high of $84.48. The company has a 50 day moving average of $73.17 and a 200 day moving average of $77.56. The company has a market capitalization of $50.47 billion, a PE ratio of 227.3913 and a beta of 1.55.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. Salesforce.com’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of CRM. Osborn Rohs Williams & Donohoe Ltd bought a new position in Salesforce.com during the second quarter worth about $206,000. Cullinan Associates Inc. boosted its position in Salesforce.com by 6.6% in the second quarter. Cullinan Associates Inc. now owns 25,690 shares of the CRM provider’s stock worth $2,040,000 after buying an additional 1,600 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in Salesforce.com by 1.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock worth $225,000 after buying an additional 37 shares in the last quarter. Boltwood Capital Management boosted its position in Salesforce.com by 6.7% in the second quarter. Boltwood Capital Management now owns 10,885 shares of the CRM provider’s stock worth $864,000 after buying an additional 685 shares in the last quarter. Finally, Fulton Bank N.A. boosted its position in Salesforce.com by 0.3% in the second quarter. Fulton Bank N.A. now owns 12,763 shares of the CRM provider’s stock worth $1,014,000 after buying an additional 38 shares in the last quarter. 86.97% of the stock is owned by institutional investors and hedge funds.
In related news, Director Susan Wojcicki purchased 1,356 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was acquired at an average price of $73.71 per share, with a total value of $99,950.76. Following the completion of the acquisition, the director now owns 14,147 shares in the company, valued at approximately $1,042,775.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $78.01, for a total transaction of $390,050.00. Following the completion of the transaction, the insider now directly owns 37,620 shares of the company’s stock, valued at approximately $2,934,736.20. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
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.
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