salesforce.com, inc. (NYSE:CRM) – Investment analysts at KeyCorp cut their Q2 2020 earnings per share estimates for salesforce.com in a research note issued on Monday, April 15th. KeyCorp analyst B. Bracelin now anticipates that the CRM provider will earn $0.01 per share for the quarter, down from their previous estimate of $0.22. KeyCorp also issued estimates for salesforce.com’s FY2020 earnings at $1.00 EPS.
salesforce.com (NYSE:CRM) last posted its earnings results on Monday, March 4th. The CRM provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.23 by $0.14. salesforce.com had a return on equity of 8.42% and a net margin of 8.36%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same period last year, the firm earned $0.35 EPS.
CRM has been the topic of several other reports. Stephens initiated coverage on salesforce.com in a research report on Wednesday, January 16th. They issued an “overweight” rating and a $183.00 target price on the stock. TheStreet upgraded salesforce.com from a “c+” rating to a “b” rating in a research report on Thursday, January 31st. Atlantic Securities initiated coverage on salesforce.com in a research report on Wednesday, January 9th. They issued an “overweight” rating and a $179.00 target price on the stock. Bank of America restated 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. Finally, Barclays raised their target price on salesforce.com to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating, thirty-seven 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 an average price target of $177.82.
CRM opened at $155.99 on Thursday. salesforce.com has a 12 month low of $113.60 and a 12 month high of $166.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $120.23 billion, a P/E ratio of 107.58, a price-to-earnings-growth ratio of 5.34 and a beta of 1.39.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Oregon Public Employees Retirement Fund boosted its stake in shares of salesforce.com by 29,364.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,716,594 shares of the CRM provider’s stock worth $159,000 after acquiring an additional 21,642,889 shares in the last quarter. Norges Bank acquired a new stake in shares of salesforce.com in the fourth quarter worth $938,778,000. Lunia Capital LP acquired a new stake in shares of salesforce.com in the fourth quarter worth $5,811,000. BlackRock Inc. boosted its position in shares of salesforce.com by 9.2% in the fourth quarter. BlackRock Inc. now owns 51,270,156 shares of the CRM provider’s stock worth $7,022,474,000 after buying an additional 4,321,630 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of salesforce.com by 18.3% in the fourth quarter. Jennison Associates LLC now owns 19,671,694 shares of the CRM provider’s stock worth $2,694,432,000 after buying an additional 3,041,293 shares during the period. 83.02% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Marc Benioff sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $149.47, for a total transaction of $747,350.00. Following the completion of the sale, the chief executive officer now directly owns 27,705 shares of the company’s stock, valued at approximately $4,141,066.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Keith Block sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $159.05, for a total value of $397,625.00. Following the sale, the chief executive officer now directly owns 30,002 shares of the company’s stock, valued at $4,771,818.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 445,691 shares of company stock valued at $70,458,306. 6.00% of the stock is currently 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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