Analysts Issue Forecasts for Salesforce.com Inc’s Q4 2018 Earnings (NYSE:CRM)

Salesforce.com Inc (NYSE:CRM) – Wedbush reduced their Q4 2018 earnings per share estimates for shares of Salesforce.com in a report released on Wednesday, according to Zacks Investment Research. Wedbush analyst S. Koenig now anticipates that the CRM provider will earn $0.11 per share for the quarter, down from their previous estimate of $0.14. Wedbush currently has a “Outperform” rating and a $108.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Robert W. Baird reissued a “buy” rating and issued a $110.00 target price (up previously from $100.00) on shares of Salesforce.com in a research note on Wednesday, August 23rd. Drexel Hamilton reissued a “buy” rating and issued a $111.00 target price on shares of Salesforce.com in a research note on Wednesday, August 23rd. Oppenheimer reissued a “buy” rating and issued a $100.00 target price on shares of Salesforce.com in a research note on Thursday, August 24th. UBS reaffirmed a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a research note on Thursday, August 24th. Finally, Vetr cut Salesforce.com from a “buy” rating to a “hold” rating and set a $93.21 price objective on the stock. in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and forty-four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $112.48.

Salesforce.com (NYSE:CRM) traded up $0.84 on Monday, reaching $100.69. The company had a trading volume of 5,323,700 shares, compared to its average volume of 4,457,712. The company has a market capitalization of $72,121.66, a PE ratio of 312.03, a PEG ratio of 9.38 and a beta of 1.24. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. Salesforce.com has a 1-year low of $68.23 and a 1-year high of $109.19.

Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Salesforce.com had a net margin of 0.09% and a return on equity of 2.81%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share.

In other Salesforce.com news, Director Craig Conway sold 250 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $105.90, for a total value of $26,475.00. Following the completion of the sale, the director now directly owns 9,408 shares in the company, valued at $996,307.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 8,026 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $92.61, for a total transaction of $743,287.86. Following the completion of the sale, the insider now owns 51,571 shares of the company’s stock, valued at $4,775,990.31. The disclosure for this sale can be found here. Insiders sold 670,072 shares of company stock valued at $68,439,414 over the last 90 days. 6.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CRM. Shell Asset Management Co. increased its stake in shares of Salesforce.com by 8.4% during the second quarter. Shell Asset Management Co. now owns 78,940 shares of the CRM provider’s stock valued at $6,836,000 after purchasing an additional 6,147 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Salesforce.com by 4.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,203 shares of the CRM provider’s stock valued at $277,000 after acquiring an additional 149 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Salesforce.com by 5.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 21,830 shares of the CRM provider’s stock valued at $1,890,000 after acquiring an additional 1,190 shares in the last quarter. Arthur M. Cohen & Associates LLC bought a new stake in shares of Salesforce.com during the second quarter valued at approximately $294,000. Finally, Eastern Bank increased its position in shares of Salesforce.com by 0.5% during the second quarter. Eastern Bank now owns 187,084 shares of the CRM provider’s stock valued at $16,202,000 after acquiring an additional 912 shares in the last quarter. 85.75% of the stock is owned by institutional investors and hedge funds.

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About Salesforce.com

Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.

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

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