salesforce.com (NYSE:CRM) Updates FY 2020 Earnings Guidance

salesforce.com (NYSE:CRM) issued an update on its FY 2020 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.82-2.84 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.65. The company issued revenue guidance of $16.9-16.9 billion, compared to the consensus revenue estimate of $16.66 billion.salesforce.com also updated its FY20 guidance to $2.82-2.84 EPS.

NYSE:CRM opened at $155.74 on Friday. The firm’s fifty day moving average is $151.52 and its 200-day moving average is $156.22. 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. The firm has a market cap of $112.94 billion, a P/E ratio of 107.41, a P/E/G ratio of 5.31 and a beta of 1.27.

salesforce.com (NYSE:CRM) last issued its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.57. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. salesforce.com’s revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 earnings per share. As a group, sell-side analysts anticipate that salesforce.com will post 1.26 earnings per share for the current year.

Several analysts have recently commented on the stock. Canaccord Genuity reiterated a buy rating and issued a $185.00 target price (up previously from $175.00) on shares of salesforce.com in a report on Friday. They noted that the move was a valuation call. UBS Group set a $190.00 target price on shares of salesforce.com and gave the stock a buy rating in a research note on Tuesday, June 11th. SunTrust Banks set a $189.00 price objective on shares of salesforce.com and gave the company a buy rating in a research report on Wednesday. Bank of America restated a buy rating and issued a $200.00 price objective on shares of salesforce.com in a research report on Wednesday, June 5th. Finally, OTR Global upgraded shares of salesforce.com to a positive rating in a research report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $182.03.

In other salesforce.com news, CEO Marc Benioff sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $156.07, for a total value of $780,350.00. Following the completion of the sale, the chief executive officer now directly owns 31,017 shares in the company, valued at $4,840,823.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Joe Allanson sold 168 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $153.88, for a total value of $25,851.84. Following the completion of the sale, the chief accounting officer now owns 30,641 shares of the company’s stock, valued at $4,715,037.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 297,406 shares of company stock valued at $45,207,736. 5.50% of the stock is owned by corporate insiders.

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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Earnings History and Estimates for salesforce.com (NYSE:CRM)

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