salesforce.com, inc. (NYSE:CRM) – Equities researchers at SunTrust Banks lowered their Q3 2020 earnings estimates for shares of salesforce.com in a report issued on Monday, June 10th. SunTrust Banks analyst T. Tillman now forecasts that the CRM provider will post earnings per share of $0.22 for the quarter, down from their previous forecast of $0.32. SunTrust Banks has a “Buy” rating and a $189.00 price target on the stock. SunTrust Banks also issued estimates for salesforce.com’s Q4 2020 earnings at $0.28 EPS, FY2020 earnings at $1.17 EPS and FY2021 earnings at $1.35 EPS.
Several other research firms also recently weighed in on CRM. Bank of America reissued a “buy” rating and issued a $200.00 target price (up from $181.00) on shares of salesforce.com in a research report on Wednesday, February 27th. Mizuho started coverage on shares of salesforce.com in a research note on Wednesday, March 13th. They issued a “buy” rating and a $185.00 price objective for the company. JPMorgan Chase & Co. restated a “buy” rating and issued a $180.00 price objective on shares of salesforce.com in a research note on Wednesday, April 17th. Robert W. Baird boosted their price objective on shares of salesforce.com from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Finally, Macquarie boosted their price objective on shares of salesforce.com from $174.00 to $188.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Four analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. salesforce.com currently has an average rating of “Buy” and a consensus price target of $180.03.
salesforce.com stock opened at $151.28 on Thursday. The stock has a market cap of $116.52 billion, a price-to-earnings ratio of 104.33, a P/E/G ratio of 5.00 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. salesforce.com has a 52 week low of $113.60 and a 52 week high of $167.56.
salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.32. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the firm posted $0.74 EPS. The company’s revenue for the quarter was up 24.3% on a year-over-year basis.
In other salesforce.com news, insider Mark J. Hawkins sold 846 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $163.84, for a total value of $138,608.64. Following the transaction, the insider now owns 20,348 shares of the company’s stock, valued at $3,333,816.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 620 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $151.38, for a total value of $93,855.60. Following the completion of the transaction, the insider now directly owns 29,438 shares in the company, valued at approximately $4,456,324.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 418,666 shares of company stock worth $66,561,480. 5.50% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CRM. Avondale Wealth Management lifted its position in shares of salesforce.com by 100.0% during the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock valued at $25,000 after buying an additional 80 shares during the last quarter. Citizens Financial Group Inc RI bought a new position in shares of salesforce.com during the 1st quarter valued at about $27,000. CX Institutional grew its position in salesforce.com by 426.5% during the 1st quarter. CX Institutional now owns 179 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 145 shares during the last quarter. Arcadia Investment Management Corp MI grew its position in salesforce.com by 63.0% during the 1st quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 68 shares during the last quarter. Finally, Avestar Capital LLC grew its position in salesforce.com by 108.7% during the 1st quarter. Avestar Capital LLC now owns 192 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. 82.14% of the stock is currently owned by hedge funds and other 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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