salesforce.com, inc. (NYSE:CRM) – Stock analysts at William Blair reduced their Q3 2020 EPS estimates for salesforce.com in a research note issued to investors on Tuesday, June 11th. William Blair analyst B. Suri now anticipates that the CRM provider will post earnings of $0.17 per share for the quarter, down from their prior estimate of $0.34. William Blair also issued estimates for salesforce.com’s Q4 2020 earnings at $0.25 EPS, FY2020 earnings at $1.07 EPS and FY2021 earnings at $1.37 EPS.
salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.32. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter last year, the business earned $0.74 earnings per share. salesforce.com’s revenue was up 24.3% on a year-over-year basis.
A number of other research analysts have also recently commented on the company. ValuEngine cut salesforce.com from a “buy” rating to a “hold” rating in a research report on Wednesday. SunTrust Banks raised their price objective on salesforce.com to $189.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays reaffirmed a “buy” rating and issued a $182.00 price objective on shares of salesforce.com in a research note on Tuesday. Sanford C. Bernstein reaffirmed a “neutral” rating and issued a $169.00 price objective on shares of salesforce.com in a research note on Tuesday. Finally, Royal Bank of Canada set a $183.00 price objective on salesforce.com and gave the company a “buy” rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $180.03.
Shares of NYSE CRM opened at $151.28 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. salesforce.com has a 52 week low of $113.60 and a 52 week high of $167.56. The firm has a market capitalization of $116.52 billion, a P/E ratio of 104.33, a P/E/G ratio of 5.00 and a beta of 1.39.
In other salesforce.com news, insider Mark J. Hawkins sold 15,271 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $165.08, for a total value of $2,520,936.68. Following the completion of the transaction, the insider now owns 25,254 shares of the company’s stock, valued at approximately $4,168,930.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark J. Hawkins sold 846 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.01, for a total transaction of $140,444.46. Following the completion of the transaction, the insider now directly owns 20,316 shares of the company’s stock, valued at approximately $3,372,659.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 418,666 shares of company stock valued at $66,561,480. 5.50% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its position in shares of salesforce.com by 29,364.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,716,594 shares of the CRM provider’s stock worth $159,000 after purchasing an additional 21,642,889 shares during the last quarter. Norges Bank purchased a new stake in shares of salesforce.com during the 4th quarter worth $938,778,000. Lunia Capital LP purchased a new stake in shares of salesforce.com during the 4th quarter worth $5,811,000. BlackRock Inc. lifted its position in shares of salesforce.com by 9.2% during the 4th quarter. BlackRock Inc. now owns 51,270,156 shares of the CRM provider’s stock worth $7,022,474,000 after purchasing an additional 4,321,630 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of salesforce.com by 18.3% during the 4th quarter. Jennison Associates LLC now owns 19,671,694 shares of the CRM provider’s stock worth $2,694,432,000 after purchasing an additional 3,041,293 shares during the last quarter. 82.14% of the stock is owned by institutional investors.
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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