$4.45 Billion in Sales Expected for salesforce.com, inc. (NYSE:CRM) This Quarter

Equities analysts expect salesforce.com, inc. (NYSE:CRM) to announce $4.45 billion in sales for the current fiscal quarter, according to Zacks. Twelve analysts have issued estimates for salesforce.com’s earnings, with estimates ranging from $4.44 billion to $4.48 billion. salesforce.com posted sales of $3.39 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 31.3%. The business is scheduled to issue its next earnings results on Tuesday, November 26th.

On average, analysts expect that salesforce.com will report full year sales of $16.86 billion for the current financial year, with estimates ranging from $16.81 billion to $17.00 billion. For the next fiscal year, analysts forecast that the firm will post sales of $20.89 billion, with estimates ranging from $20.34 billion to $21.44 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover salesforce.com.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.57. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The business’s revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share.

Several equities research analysts recently weighed in on CRM shares. Wedbush reaffirmed an “outperform” rating and set a $184.00 target price (down from $192.00) on shares of salesforce.com in a research note on Tuesday, August 20th. Canaccord Genuity raised their price target on shares of salesforce.com from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. They noted that the move was a valuation call. Stephens set a $184.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a research note on Friday, August 23rd. OTR Global raised salesforce.com to a “positive” rating in a research report on Thursday, August 15th. Finally, Credit Suisse Group set a $175.00 price objective on salesforce.com and gave the company a “buy” rating in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $183.82.

In other news, insider Alexandre Dayon sold 1,452 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $155.57, for a total transaction of $225,887.64. Following the sale, the insider now directly owns 50,155 shares in the company, valued at approximately $7,802,613.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sanford Robertson sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $155.67, for a total value of $3,891,750.00. Following the completion of the sale, the director now directly owns 124,017 shares in the company, valued at approximately $19,305,726.39. The disclosure for this sale can be found here. Insiders sold a total of 320,727 shares of company stock valued at $48,794,063 over the last quarter. Company insiders own 5.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CRM. Massey Quick Simon & CO. LLC acquired a new position in shares of salesforce.com in the second quarter worth $26,000. Citizens Financial Group Inc RI bought a new stake in shares of salesforce.com in the first quarter valued at approximately $27,000. Personal Wealth Partners acquired a new stake in shares of salesforce.com in the second quarter worth $28,000. Avestar Capital LLC grew its stake in shares of salesforce.com by 108.7% in the first 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. Finally, JJJ Advisors Inc. acquired a new stake in shares of salesforce.com in the first quarter worth $32,000. 73.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE CRM traded up $4.44 during midday trading on Friday, hitting $154.09. The company’s stock had a trading volume of 6,065,498 shares, compared to its average volume of 6,082,052. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $131.15 billion, a price-to-earnings ratio of 106.27, a price-to-earnings-growth ratio of 5.51 and a beta of 1.24. The business’s fifty day simple moving average is $150.09 and its two-hundred day simple moving average is $155.68. salesforce.com has a 1 year low of $113.60 and a 1 year high of $167.56.

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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