salesforce.com, inc. (NYSE:CRM) – Investment analysts at Wedbush increased their FY2019 earnings per share (EPS) estimates for salesforce.com in a report issued on Wednesday, November 28th. Wedbush analyst S. Koenig now forecasts that the CRM provider will post earnings per share of $1.30 for the year, up from their prior forecast of $1.24. Wedbush has a “Outperform” rating and a $180.00 price target on the stock. Wedbush also issued estimates for salesforce.com’s Q4 2019 earnings at $0.22 EPS, Q1 2020 earnings at $0.31 EPS, Q2 2020 earnings at $0.30 EPS, Q3 2020 earnings at $0.30 EPS, Q4 2020 earnings at $0.37 EPS and FY2020 earnings at $1.28 EPS.
CRM has been the topic of several other research reports. Zacks Investment Research reaffirmed a “hold” rating on shares of salesforce.com in a research report on Monday, November 12th. KeyCorp lifted their target price on salesforce.com from $147.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 30th. UBS Group lifted their target price on salesforce.com from $168.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. Piper Jaffray Companies reiterated a “buy” rating on shares of salesforce.com in a research note on Thursday, August 30th. Finally, TheStreet downgraded salesforce.com from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. Five analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $168.97.
CRM opened at $139.72 on Friday. The company has a market cap of $106.42 billion, a price-to-earnings ratio of 310.49, a PEG ratio of 4.62 and a beta of 1.38. salesforce.com has a 52 week low of $98.68 and a 52 week high of $161.19. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22.
salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, November 27th. The CRM provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.50 by $0.11. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.37 billion. salesforce.com had a return on equity of 8.06% and a net margin of 6.51%. The firm’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of CRM. Cornerstone Wealth Management LLC purchased a new stake in salesforce.com in the 2nd quarter worth approximately $1,341,000. Pinnacle Financial Partners Inc. purchased a new stake in salesforce.com in the 2nd quarter worth approximately $333,000. Commonwealth Equity Services LLC boosted its position in salesforce.com by 7.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 73,358 shares of the CRM provider’s stock worth $10,006,000 after purchasing an additional 5,018 shares in the last quarter. Bfsg LLC purchased a new stake in salesforce.com in the 2nd quarter worth approximately $565,000. Finally, CWM LLC raised its stake in shares of salesforce.com by 95.8% during the 2nd quarter. CWM LLC now owns 1,318 shares of the CRM provider’s stock worth $180,000 after buying an additional 645 shares during the period. 83.59% of the stock is owned by institutional investors.
In other news, Director Craig Conway sold 200 shares of the company’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $146.49, for a total value of $29,298.00. Following the completion of the sale, the director now owns 9,127 shares of the company’s stock, valued at $1,337,014.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $151.57, for a total value of $2,273,550.00. The disclosure for this sale can be found here. Insiders sold 495,038 shares of company stock valued at $72,864,126 in the last ninety days. Company insiders own 6.00% of the company’s stock.
salesforce.com Company Profile
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
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