salesforce.com, inc. (CRM) Expected to Announce Quarterly Sales of $2.94 Billion
Equities analysts expect salesforce.com, inc. (NYSE:CRM) to report sales of $2.94 billion for the current quarter, Zacks Investment Research reports. Thirteen analysts have made estimates for salesforce.com’s earnings. The lowest sales estimate is $2.93 billion and the highest is $2.96 billion. salesforce.com posted sales of $2.39 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 23%. The firm is expected to report its next quarterly earnings results on Thursday, May 17th.
According to Zacks, analysts expect that salesforce.com will report full year sales of $2.94 billion for the current year, with estimates ranging from $12.60 billion to $12.80 billion. For the next financial year, analysts forecast that the company will post sales of $15.07 billion per share, with estimates ranging from $14.86 billion to $15.37 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover salesforce.com.
salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.81 billion. salesforce.com had a net margin of 1.22% and a return on equity of 3.86%. The business’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period last year, the business earned $0.28 EPS.
In related news, insider Parker Harris sold 1,750 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $123.00, for a total value of $215,250.00. Following the completion of the transaction, the insider now owns 18,157 shares of the company’s stock, valued at $2,233,311. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Marc Benioff sold 5,000 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $125.03, for a total value of $625,150.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,337 shares of company stock valued at $31,729,390. 6.20% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of CRM. Chemical Bank grew its position in salesforce.com by 27.4% in the fourth quarter. Chemical Bank now owns 7,921 shares of the CRM provider’s stock valued at $809,000 after acquiring an additional 1,705 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in salesforce.com by 18.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 16,900 shares of the CRM provider’s stock valued at $1,728,000 after acquiring an additional 2,635 shares during the last quarter. Rehmann Capital Advisory Group bought a new position in salesforce.com in the fourth quarter valued at about $221,000. KCM Investment Advisors LLC grew its position in salesforce.com by 3.4% in the fourth quarter. KCM Investment Advisors LLC now owns 20,287 shares of the CRM provider’s stock valued at $2,074,000 after acquiring an additional 658 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in salesforce.com by 8.6% in the fourth quarter. Xact Kapitalforvaltning AB now owns 111,661 shares of the CRM provider’s stock valued at $11,415,000 after acquiring an additional 8,818 shares during the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.
salesforce.com (NYSE:CRM) opened at $127.41 on Friday. The firm has a market cap of $92,028.24, a P/E ratio of 749.51, a PEG ratio of 5.86 and a beta of 1.25. salesforce.com has a 52 week low of $80.50 and a 52 week high of $127.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.82 and a current ratio of 0.92.
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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