salesforce.com, inc. (CRM) Expected to Announce Quarterly Sales of $2.81 Billion
Brokerages forecast that salesforce.com, inc. (NYSE:CRM) will post $2.81 billion in sales for the current quarter, Zacks reports. Fourteen analysts have made estimates for salesforce.com’s earnings, with the lowest sales estimate coming in at $2.80 billion and the highest estimate coming in at $2.83 billion. salesforce.com posted sales of $2.29 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 22.7%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that salesforce.com will report full year sales of $2.81 billion for the current financial year, with estimates ranging from $10.38 billion to $10.46 billion. For the next fiscal year, analysts anticipate that the company will report sales of $12.51 billion per share, with estimates ranging from $12.47 billion to $12.66 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for salesforce.com.
salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. salesforce.com had a net margin of 0.09% and a return on equity of 2.81%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter last year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year.
Shares of salesforce.com (CRM) traded up $0.88 on Wednesday, reaching $105.29. 3,888,268 shares of the company traded hands, compared to its average volume of 4,780,000. salesforce.com has a 12 month low of $69.00 and a 12 month high of $109.19. The company has a market capitalization of $76,050.00, a PE ratio of 10,529.00, a PEG ratio of 9.54 and a beta of 1.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82.
In other salesforce.com news, Director Craig Conway sold 250 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $105.90, for a total transaction of $26,475.00. Following the completion of the sale, the director now directly owns 9,408 shares in the company, valued at $996,307.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexandre Dayon sold 124,331 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $99.00, for a total value of $12,308,769.00. Following the sale, the insider now owns 154,406 shares of the company’s stock, valued at $15,286,194. The disclosure for this sale can be found here. Insiders sold 644,705 shares of company stock worth $66,729,034 over the last 90 days. Company insiders own 6.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in salesforce.com by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock worth $3,996,548,000 after buying an additional 2,268,623 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of salesforce.com by 5.3% during the 3rd quarter. Janus Henderson Group PLC now owns 13,435,212 shares of the CRM provider’s stock worth $1,255,082,000 after purchasing an additional 675,471 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of salesforce.com by 6.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 9,344,787 shares of the CRM provider’s stock worth $809,259,000 after purchasing an additional 592,409 shares during the period. Winslow Capital Management LLC raised its position in shares of salesforce.com by 12.0% during the 2nd quarter. Winslow Capital Management LLC now owns 6,266,919 shares of the CRM provider’s stock worth $542,715,000 after purchasing an additional 670,197 shares during the period. Finally, Tybourne Capital Management HK Ltd. raised its position in shares of salesforce.com by 76.5% during the 2nd quarter. Tybourne Capital Management HK Ltd. now owns 4,738,144 shares of the CRM provider’s stock worth $410,323,000 after purchasing an additional 2,053,200 shares during the period. 85.57% of the stock is currently owned by institutional investors.
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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