Analysts Anticipate Salesforce.com Inc (CRM) to Announce $0.36 EPS
Equities analysts predict that Salesforce.com Inc (NYSE:CRM) will announce earnings per share of $0.36 for the current quarter, according to Zacks. Thirteen analysts have issued estimates for Salesforce.com’s earnings, with the lowest EPS estimate coming in at $0.36 and the highest estimate coming in at $0.37. Salesforce.com reported earnings of $0.24 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 50%. The firm is expected to report its next earnings results on Thursday, November 16th.
On average, analysts expect that Salesforce.com will report full-year earnings of $1.31 per share for the current fiscal year, with EPS estimates ranging from $1.30 to $1.33. For the next fiscal year, analysts expect that the firm will report earnings of $1.69 per share, with EPS estimates ranging from $1.60 to $1.85. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Salesforce.com.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.24. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $0.24 EPS. The firm’s revenue was up 25.7% compared to the same quarter last year.
Several equities analysts have commented on CRM shares. Vetr upgraded shares of Salesforce.com from a “hold” rating to a “buy” rating and set a $95.22 price objective for the company in a research report on Monday, May 15th. Stephens reiterated an “overweight” rating and set a $107.00 price objective (up previously from $100.00) on shares of Salesforce.com in a research report on Thursday, August 31st. Northland Securities reiterated a “buy” rating and set a $105.00 price objective on shares of Salesforce.com in a research report on Sunday. Wells Fargo & Company reiterated a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Thursday, August 24th. Finally, Zacks Investment Research lowered shares of Salesforce.com from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty-seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $102.28.
In other news, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $85.73, for a total transaction of $857,300.00. Following the completion of the sale, the chairman now owns 34,195,300 shares of the company’s stock, valued at $2,931,563,069. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Amy E. Weaver sold 1,400 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $87.04, for a total transaction of $121,856.00. Following the sale, the insider now directly owns 16,513 shares of the company’s stock, valued at approximately $1,437,291.52. The disclosure for this sale can be found here. In the last three months, insiders sold 692,105 shares of company stock valued at $62,193,091. 6.70% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Appropriate Balance Financial Services Inc. grew its holdings in shares of Salesforce.com by 6.9% in the second quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock valued at $5,928,000 after purchasing an additional 33 shares during the period. Capital Analysts LLC grew its holdings in shares of Salesforce.com by 14.1% in the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock valued at $110,000 after purchasing an additional 156 shares during the period. Peddock Capital Advisors LLC grew its holdings in shares of Salesforce.com by 3,000.0% in the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock valued at $121,000 after purchasing an additional 1,350 shares during the period. People s United Financial Inc. grew its holdings in shares of Salesforce.com by 60.1% in the second quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock valued at $127,000 after purchasing an additional 550 shares during the period. Finally, Shine Investment Advisory Services Inc. purchased a new stake in shares of Salesforce.com in the second quarter valued at about $130,000. 86.98% of the stock is owned by hedge funds and other institutional investors.
Salesforce.com (CRM) traded up 1.33% during mid-day trading on Monday, reaching $97.71. 4,471,493 shares of the company’s stock traded hands. The stock’s market capitalization is $70.22 billion. Salesforce.com has a 12-month low of $66.43 and a 12-month high of $98.22. The stock has a 50-day moving average price of $92.11 and a 200-day moving average price of $87.65.
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Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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