salesforce.com, inc. (NYSE:CRM) – Equities researchers at William Blair boosted their Q3 2020 earnings estimates for shares of salesforce.com in a report issued on Wednesday, June 12th. William Blair analyst B. Suri now forecasts that the CRM provider will earn $0.25 per share for the quarter, up from their prior forecast of $0.17.
A number of other research analysts have also recently issued reports on CRM. Bank of America reaffirmed a “buy” rating and issued a $200.00 price target (up from $181.00) on shares of salesforce.com in a report on Wednesday, February 27th. Goldman Sachs Group reissued a “buy” rating and set a $178.00 price objective on shares of salesforce.com in a report on Monday, March 4th. JPMorgan Chase & Co. boosted their price objective on salesforce.com to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. BMO Capital Markets reissued an “outperform” rating and set a $185.00 price objective (up from $175.00) on shares of salesforce.com in a report on Tuesday, March 5th. Finally, Wedbush boosted their price objective on salesforce.com from $174.00 to $192.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. They noted that the move was a valuation call. Four research 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 company. The stock has a consensus rating of “Buy” and an average target price of $180.03.
salesforce.com stock opened at $151.34 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96. salesforce.com has a 12-month low of $113.60 and a 12-month high of $167.56. The stock has a market capitalization of $117.39 billion, a P/E ratio of 104.37, a price-to-earnings-growth ratio of 5.21 and a beta of 1.39.
salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was up 24.3% compared to the same quarter last year.
Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc raised its stake in shares of salesforce.com by 4.6% during the 3rd quarter. Vanguard Group Inc now owns 54,471,296 shares of the CRM provider’s stock worth $8,662,570,000 after purchasing an additional 2,398,648 shares in the last quarter. Buckingham Capital Management Inc. raised its stake in shares of salesforce.com by 8.1% during the 4th quarter. Buckingham Capital Management Inc. now owns 32,519 shares of the CRM provider’s stock worth $4,454,000 after purchasing an additional 2,439 shares in the last quarter. Comerica Securities Inc. raised its stake in shares of salesforce.com by 10.6% during the 4th quarter. Comerica Securities Inc. now owns 1,704 shares of the CRM provider’s stock worth $233,000 after purchasing an additional 163 shares in the last quarter. Mondrian Capital Management LLC bought a new stake in shares of salesforce.com during the 4th quarter worth approximately $6,164,000. Finally, Honeywell International Inc. raised its stake in shares of salesforce.com by 16.0% during the 4th quarter. Honeywell International Inc. now owns 148,400 shares of the CRM provider’s stock worth $20,326,000 after purchasing an additional 20,500 shares in the last quarter. 82.14% of the stock is owned by hedge funds and other institutional investors.
In other salesforce.com news, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $151.14, for a total transaction of $1,511,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark J. Hawkins sold 846 shares of the company’s stock in a transaction that occurred 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 directly owns 20,348 shares of the company’s stock, valued at approximately $3,333,816.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 426,279 shares of company stock valued at $67,663,581. Insiders own 5.50% of the company’s stock.
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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