Salesforce.com Inc. (NYSE:CRM) posted its earnings results on Thursday. The CRM provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The firm earned $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. Salesforce.com updated its Q4 guidance to $0.24-0.25 EPS.

Shares of Salesforce.com (NYSE:CRM) opened at 75.19 on Friday. The stock has a 50 day moving average price of $73.53 and a 200-day moving average price of $77.50. Salesforce.com has a 1-year low of $52.60 and a 1-year high of $84.48. The stock has a market capitalization of $51.51 billion, a PE ratio of 232.07 and a beta of 1.55.

Earnings History for Salesforce.com (NYSE:CRM)

In other Salesforce.com news, CEO Marc Benioff sold 12,500 shares of the company’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $79.35, for a total value of $991,875.00. Following the transaction, the chief executive officer now owns 35,383,000 shares of the company’s stock, valued at approximately $2,807,641,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan Wojcicki purchased 1,356 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were purchased at an average cost of $73.71 per share, for a total transaction of $99,950.76. Following the transaction, the director now directly owns 14,147 shares in the company, valued at approximately $1,042,775.37. The disclosure for this purchase can be found here. Corporate insiders own 6.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Marvin & Palmer Associates Inc. increased its position in Salesforce.com by 90.8% in the third quarter. Marvin & Palmer Associates Inc. now owns 56,660 shares of the CRM provider’s stock worth $4,042,000 after buying an additional 26,960 shares during the last quarter. LPL Financial LLC increased its position in Salesforce.com by 6.2% in the third quarter. LPL Financial LLC now owns 26,626 shares of the CRM provider’s stock worth $1,934,000 after buying an additional 1,554 shares during the last quarter. Peloton Wealth Strategists purchased a new position in Salesforce.com during the third quarter worth about $2,040,000. Salem Investment Counselors Inc. increased its position in Salesforce.com by 5.6% in the third quarter. Salem Investment Counselors Inc. now owns 21,575 shares of the CRM provider’s stock worth $1,539,000 after buying an additional 1,150 shares during the last quarter. Finally, Bamco Inc. NY increased its position in Salesforce.com by 6.4% in the third quarter. Bamco Inc. NY now owns 82,333 shares of the CRM provider’s stock worth $5,873,000 after buying an additional 4,979 shares during the last quarter. 86.97% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on CRM. Morgan Stanley dropped their price objective 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 reiterated an “outperform” rating and issued a $100.00 price objective on shares of Salesforce.com in a report on Monday, August 15th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $100.00 price objective on shares of Salesforce.com in a report on Monday, August 15th. MKM Partners reiterated a “buy” rating and issued a $96.00 price objective on shares of Salesforce.com in a report on Friday, August 5th. Finally, Stephens began coverage on shares of Salesforce.com in a report on Tuesday, August 2nd. They issued an “overweight” rating for the company. Two investment 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 stock. Salesforce.com currently has an average rating of “Buy” and a consensus target price of $92.02.

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.

5 Day Chart for NYSE:CRM

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