$0.94 Earnings Per Share Expected for Salesforce, Inc. (NYSE:CRM) This Quarter

Wall Street analysts predict that Salesforce, Inc. (NYSE:CRMGet Rating) will post earnings per share (EPS) of $0.94 for the current quarter, according to Zacks. Thirteen analysts have issued estimates for Salesforce’s earnings. The lowest EPS estimate is $0.93 and the highest is $0.95. Salesforce reported earnings of $1.21 per share in the same quarter last year, which would indicate a negative year over year growth rate of 22.3%. The company is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Salesforce will report full-year earnings of $4.65 per share for the current financial year, with EPS estimates ranging from $4.62 to $4.80. For the next fiscal year, analysts expect that the company will report earnings of $5.73 per share, with EPS estimates ranging from $5.52 to $6.08. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Salesforce.

Salesforce (NYSE:CRMGet Rating) last posted its earnings results on Tuesday, March 1st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.12. Salesforce had a return on equity of 4.76% and a net margin of 5.45%. The firm had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.24 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The company’s revenue was up 25.9% on a year-over-year basis.

A number of research analysts have issued reports on CRM shares. Canaccord Genuity Group decreased their target price on Salesforce from $315.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, March 2nd. Wedbush reduced their price objective on Salesforce from $315.00 to $275.00 and set an “outperform” rating for the company in a research report on Wednesday, March 2nd. Wells Fargo & Company reduced their price objective on Salesforce from $340.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, February 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on Salesforce from $360.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, January 21st. Finally, Raymond James reduced their price objective on Salesforce from $340.00 to $300.00 and set a “strong-buy” rating for the company in a research report on Wednesday, March 2nd. Seven investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $299.50.

In related news, CEO Marc Benioff sold 2,300 shares of the stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $173.61, for a total transaction of $399,303.00. Following the sale, the chief executive officer now owns 28,926,000 shares of the company’s stock, valued at $5,021,842,860. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 2,625 shares of the firm’s stock in a transaction on Wednesday, March 23rd. The shares were sold at an average price of $210.93, for a total value of $553,691.25. The disclosure for this sale can be found here. Insiders have sold 162,035 shares of company stock worth $32,854,464 in the last three months. 4.10% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the business. Curi Wealth Management LLC boosted its holdings in shares of Salesforce by 355.0% in the 1st quarter. Curi Wealth Management LLC now owns 1,174 shares of the CRM provider’s stock valued at $249,000 after purchasing an additional 916 shares in the last quarter. Jacobi Capital Management LLC lifted its stake in shares of Salesforce by 57.5% in the 1st quarter. Jacobi Capital Management LLC now owns 5,612 shares of the CRM provider’s stock valued at $1,191,000 after acquiring an additional 2,048 shares during the last quarter. RMB Capital Management LLC lifted its stake in shares of Salesforce by 17.3% in the 1st quarter. RMB Capital Management LLC now owns 221,936 shares of the CRM provider’s stock valued at $47,121,000 after acquiring an additional 32,772 shares during the last quarter. Motco lifted its stake in shares of Salesforce by 5.9% in the 1st quarter. Motco now owns 38,243 shares of the CRM provider’s stock valued at $8,120,000 after acquiring an additional 2,123 shares during the last quarter. Finally, WT Wealth Management lifted its stake in shares of Salesforce by 18.0% in the 1st quarter. WT Wealth Management now owns 6,909 shares of the CRM provider’s stock valued at $1,467,000 after acquiring an additional 1,056 shares during the last quarter. 77.75% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:CRM opened at $169.70 on Wednesday. Salesforce has a 1 year low of $165.58 and a 1 year high of $311.75. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a market cap of $168.06 billion, a price-to-earnings ratio of 113.13, a PEG ratio of 5.28 and a beta of 1.16. The stock has a 50-day moving average price of $197.46 and a two-hundred day moving average price of $234.40.

About Salesforce (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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