salesforce.com (NYSE:CRM) Releases Earnings Results, Beats Estimates By $0.57 EPS

salesforce.com (NYSE:CRM) posted its quarterly earnings results on Thursday. The CRM provider reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.57, RTT News reports. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the business posted $0.71 earnings per share. salesforce.com’s revenue for the quarter was up 21.8% compared to the same quarter last year.

Shares of CRM stock opened at $148.24 on Friday. salesforce.com has a 52-week low of $113.60 and a 52-week high of $167.56. The stock has a market cap of $112.94 billion, a PE ratio of 102.23, a PEG ratio of 5.31 and a beta of 1.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. The firm’s 50 day moving average price is $151.52 and its two-hundred day moving average price is $156.22.

Several research firms recently weighed in on CRM. Wedbush reiterated an “outperform” rating and issued a $184.00 target price (down previously from $192.00) on shares of salesforce.com in a research note on Tuesday. Credit Suisse Group set a $175.00 target price on shares of salesforce.com and gave the company a “buy” rating in a research note on Thursday. SunTrust Banks set a $189.00 target price on shares of salesforce.com and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. set a $180.00 target price on shares of salesforce.com and gave the company a “buy” rating in a research note on Friday. Finally, Barclays increased their target price on shares of salesforce.com from $182.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $182.03.

In other news, CAO Joe Allanson sold 168 shares of salesforce.com stock in a transaction on Monday, June 24th. The shares were sold at an average price of $153.88, for a total transaction of $25,851.84. Following the transaction, the chief accounting officer now directly owns 30,641 shares of the company’s stock, valued at $4,715,037.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of salesforce.com stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $147.47, for a total transaction of $1,474,700.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 297,406 shares of company stock worth $45,207,736. Insiders own 5.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CRM. Nuveen Asset Management LLC increased its stake in shares of salesforce.com by 36,379.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 12,648,680 shares of the CRM provider’s stock worth $1,919,183,000 after purchasing an additional 12,614,007 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in salesforce.com by 13.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 33,910,865 shares of the CRM provider’s stock valued at $5,145,296,000 after buying an additional 4,046,077 shares during the last quarter. Viking Global Investors LP acquired a new position in salesforce.com in the 2nd quarter valued at about $443,415,000. BlackRock Inc. grew its stake in salesforce.com by 4.7% in the 2nd quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock valued at $8,521,967,000 after buying an additional 2,499,996 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in salesforce.com by 8.4% in the 2nd quarter. Jennison Associates LLC now owns 21,575,462 shares of the CRM provider’s stock valued at $3,273,645,000 after buying an additional 1,673,392 shares during the last quarter. Institutional investors own 82.03% of the company’s stock.

About salesforce.com

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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Earnings History for salesforce.com (NYSE:CRM)

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