FY2017 EPS Estimates for Salesforce.com Inc. Decreased by Analyst (CRM)
Salesforce.com Inc. (NYSE:CRM) – Analysts at DA Davidson cut their FY2017 EPS estimates for shares of Salesforce.com in a research report issued on Tuesday. DA Davidson analyst J. Andrews now forecasts that the brokerage will post earnings per share of $0.30 for the year, down from their previous forecast of $0.31. DA Davidson has a “Neutral” rating and a $80.00 price target on the stock. DA Davidson also issued estimates for Salesforce.com’s Q4 2017 earnings at $0.09 EPS, Q1 2018 earnings at $0.06 EPS, Q2 2018 earnings at $0.13 EPS, Q4 2018 earnings at $0.22 EPS and FY2018 earnings at $0.55 EPS.
Other research analysts have also issued reports about the company. FBN Securities set a $90.00 price target on Salesforce.com and gave the stock a “buy” rating in a research report on Sunday, September 4th. Raymond James Financial Inc. set a $105.00 target price on Salesforce.com and gave the stock a “buy” rating in a report on Sunday, September 4th. Stephens assumed coverage on Salesforce.com in a report on Tuesday, August 2nd. They set an “overweight” rating on the stock. Vetr upgraded Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 target price on the stock in a report on Wednesday, August 10th. Finally, BMO Capital Markets reduced their target price on Salesforce.com from $98.00 to $86.00 and set an “outperform” rating on the stock in a report on Thursday, September 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and forty-six have assigned a buy rating to the stock. Salesforce.com presently has a consensus rating of “Buy” and a consensus target price of $92.02.
Shares of Salesforce.com (NYSE:CRM) traded up 2.33% on Thursday, reaching $75.02. The company’s stock had a trading volume of 7,719,292 shares. The company’s 50 day moving average is $73.44 and its 200-day moving average is $77.52. The stock has a market cap of $51.39 billion, a PE ratio of 231.54 and a beta of 1.55. Salesforce.com has a 1-year low of $52.60 and a 1-year high of $84.48.
Salesforce.com (NYSE:CRM) last issued its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, topping 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 analyst estimates of $2.02 billion. During the same period in the prior year, the firm posted $0.19 EPS. The business’s revenue was up 25.0% compared to the same quarter last year.
Several hedge funds have recently bought and sold shares of CRM. Brighton Jones LLC boosted its position in shares of Salesforce.com by 0.5% in the second quarter. Brighton Jones LLC now owns 4,270 shares of the CRM provider’s stock worth $339,000 after buying an additional 22 shares during the last quarter. Hollencrest Securities LLC boosted its position in shares of Salesforce.com by 0.9% in the second quarter. Hollencrest Securities LLC now owns 3,229 shares of the CRM provider’s stock worth $256,000 after buying an additional 29 shares during the last quarter. Cornerstone Advisors Inc. boosted its position in shares of Salesforce.com by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,552 shares of the CRM provider’s stock worth $282,000 after buying an additional 35 shares during the last quarter. Integrated Investment Consultants LLC boosted its position in shares of 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 during the last quarter. Finally, Fulton Bank N.A. boosted its position in shares of 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 during the last quarter. 86.97% of the stock is owned by institutional investors.
In other news, insider Parker Harris sold 5,000 shares of Salesforce.com stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $70.13, for a total transaction of $350,650.00. Following the completion of the sale, the insider now directly owns 39,467 shares of the company’s stock, valued at approximately $2,767,820.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Marc Benioff sold 25,000 shares of Salesforce.com stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $77.23, for a total transaction of $1,930,750.00. Following the sale, the chairman now directly owns 35,383,000 shares of the company’s stock, valued at $2,732,629,090. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.
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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