Salesforce (CRM) to Release Earnings on Tuesday

Salesforce (NYSE:CRMGet Rating) will be posting its quarterly earnings results after the market closes on Tuesday, May 31st. Analysts expect Salesforce to post earnings of $0.34 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Salesforce (NYSE:CRMGet Rating) last posted its quarterly earnings data on Tuesday, March 1st. The CRM provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.12 by $0.12. The firm had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $7.24 billion. Salesforce had a return on equity of 4.76% and a net margin of 5.45%. The firm’s revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 EPS. On average, analysts expect Salesforce to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

CRM opened at $160.32 on Tuesday. The business has a 50 day moving average price of $188.95 and a two-hundred day moving average price of $222.93. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The company has a market cap of $158.78 billion, a PE ratio of 106.88, a P/E/G ratio of 4.47 and a beta of 1.16. Salesforce has a 52 week low of $154.55 and a 52 week high of $311.75.

In related news, insider Srinivas Tallapragada sold 20,000 shares of the stock in a transaction on Monday, March 7th. The stock was sold at an average price of $203.57, for a total value of $4,071,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 2,625 shares of the stock in a transaction on Wednesday, March 23rd. The stock was 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 137,435 shares of company stock worth $26,942,586 in the last 90 days. Insiders own 4.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CRM. Cohen & Steers Inc. raised its position in Salesforce by 27.2% in the first quarter. Cohen & Steers Inc. now owns 355 shares of the CRM provider’s stock valued at $75,000 after purchasing an additional 76 shares during the period. Covestor Ltd raised its position in Salesforce by 42.8% in the first quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock valued at $132,000 after purchasing an additional 186 shares during the period. Zullo Investment Group Inc. purchased a new position in Salesforce in the fourth quarter valued at about $172,000. First Growth Investment Manager LP purchased a new position in Salesforce in the first quarter valued at about $244,000. Finally, Private Advisory Group LLC raised its position in Salesforce by 33.9% in the first quarter. Private Advisory Group LLC now owns 1,150 shares of the CRM provider’s stock valued at $244,000 after purchasing an additional 291 shares during the period. 77.75% of the stock is currently owned by institutional investors.

Several research firms have commented on CRM. Wells Fargo & Company reduced their price objective on Salesforce to $225.00 and set an “overweight” rating for the company in a research note on Wednesday, May 18th. Robert W. Baird cut their target price on Salesforce from $315.00 to $300.00 in a research note on Wednesday, March 2nd. The Goldman Sachs Group set a $360.00 target price on Salesforce and gave the stock a “buy” rating in a research note on Wednesday, March 2nd. CICC Research initiated coverage on Salesforce in a research note on Monday, May 9th. They set an “outperform” rating for the company. Finally, Zacks Investment Research downgraded Salesforce from a “strong-buy” rating to a “hold” rating and set a $244.00 target price for the company. in a research note on Tuesday, February 1st. Five research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $285.76.

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.

Further Reading

Earnings History for Salesforce (NYSE:CRM)

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