Jefferies Group Weighs in on Salesforce.com Inc.’s Q1 2018 Earnings (CRM)
Salesforce.com Inc. (NYSE:CRM) – Research analysts at Jefferies Group cut their Q1 2018 EPS estimates for Salesforce.com in a note issued to investors on Monday. Jefferies Group analyst J. Difucci now forecasts that the firm will post earnings per share of $0.15 for the quarter, down from their previous forecast of $0.17. Jefferies Group currently has a “Hold” rating and a $80.00 price target on the stock. Jefferies Group also issued estimates for Salesforce.com’s Q2 2018 earnings at $0.13 EPS and Q4 2018 earnings at $0.11 EPS.
A number of other brokerages also recently issued reports on CRM. Morgan Stanley cut their price target on shares of Salesforce.com from $110.00 to $94.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Mizuho reissued an “outperform” rating and issued a $100.00 price objective on shares of Salesforce.com in a research note on Monday, August 15th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $100.00 price objective on shares of Salesforce.com in a research note on Monday, August 15th. Citigroup Inc. lowered their price objective on shares of Salesforce.com from $97.00 to $94.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Finally, MKM Partners reissued a “buy” rating and issued a $96.00 price objective on shares of Salesforce.com in a research note on Friday, August 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $92.02.
Salesforce.com (NYSE:CRM) traded up 0.25% during trading on Wednesday, reaching $73.49. 3,102,146 shares of the company were exchanged. The firm has a market capitalization of $50.34 billion, a PE ratio of 226.82 and a beta of 1.55. The stock has a 50 day moving average price of $73.44 and a 200 day moving average price of $77.52. Salesforce.com has a 12 month low of $52.60 and a 12 month high of $84.48.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings results 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 firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. Salesforce.com’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 earnings per share.
A number of hedge funds have recently added to or reduced their stakes in CRM. Sapphire Star Partners LP boosted its stake in Salesforce.com by 100.0% in the first quarter. Sapphire Star Partners LP now owns 10,600 shares of the CRM provider’s stock valued at $830,000 after buying an additional 5,300 shares during the last quarter. LPL Financial LLC raised its stake in shares of Salesforce.com by 33.1% in the first quarter. LPL Financial LLC now owns 39,632 shares of the CRM provider’s stock worth $2,956,000 after buying an additional 9,856 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in shares of Salesforce.com during the first quarter worth $4,806,000. Eachwin Capital LP purchased a new stake in shares of Salesforce.com during the first quarter worth $449,000. Finally, Arizona State Retirement System raised its stake in shares of Salesforce.com by 2.9% in the first quarter. Arizona State Retirement System now owns 170,956 shares of the CRM provider’s stock worth $12,622,000 after buying an additional 4,800 shares in the last quarter. 86.97% of the stock is owned by institutional investors and hedge funds.
In related news, Chairman Marc Benioff sold 12,500 shares of Salesforce.com stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $73.68, for a total transaction of $921,000.00. Following the completion of the sale, the chairman now directly owns 34,671,300 shares of the company’s stock, valued at approximately $2,554,581,384. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 5,000 shares of Salesforce.com stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $78.01, for a total value of $390,050.00. Following the sale, the insider now directly owns 37,620 shares of the company’s stock, valued at $2,934,736.20. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.
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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