Salesforce, Inc. (NYSE:CRM) Expected to Announce Quarterly Sales of $7.37 Billion

Equities analysts expect that Salesforce, Inc. (NYSE:CRMGet Rating) will post $7.37 billion in sales for the current quarter, according to Zacks. Thirteen analysts have made estimates for Salesforce’s earnings, with the lowest sales estimate coming in at $7.32 billion and the highest estimate coming in at $7.38 billion. Salesforce posted sales of $5.96 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 23.7%. The company is scheduled to announce its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Salesforce will report full-year sales of $31.57 billion for the current year, with estimates ranging from $26.49 billion to $32.08 billion. For the next year, analysts anticipate that the firm will post sales of $37.23 billion, with estimates ranging from $32.05 billion to $38.45 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover 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, topping analysts’ consensus estimates of $0.12 by $0.12. The company had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.24 billion. Salesforce had a net margin of 5.45% and a return on equity of 4.76%. Salesforce’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 EPS.

Several analysts have weighed in on CRM shares. Morgan Stanley dropped their price objective on shares of Salesforce from $360.00 to $291.00 in a research note on Monday, May 16th. Robert W. Baird dropped their price objective on shares of Salesforce from $315.00 to $300.00 in a research note on Wednesday, March 2nd. JPMorgan Chase & Co. set a $316.00 price objective on shares of Salesforce in a research note on Wednesday, March 2nd. Roth Capital upgraded shares of Salesforce from a “neutral” rating to a “buy” rating and set a $242.00 target price for the company in a research report on Wednesday, May 18th. Finally, Canaccord Genuity Group dropped their target price on shares of Salesforce from $315.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, March 2nd. Five investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $283.20.

In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $157.52, for a total transaction of $362,296.00. Following the completion of the transaction, the chief executive officer now owns 28,926,000 shares in the company, valued at $4,556,423,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Srinivas Tallapragada sold 20,000 shares of the stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $203.57, for a total transaction of $4,071,400.00. The disclosure for this sale can be found here. Insiders have sold 139,735 shares of company stock valued at $27,221,645 in the last quarter. Company insiders own 4.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vectors Research Management LLC raised its stake in shares of Salesforce by 128.9% during the fourth quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 58 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new position in shares of Salesforce during the fourth quarter worth approximately $27,000. MCF Advisors LLC purchased a new position in shares of Salesforce during the first quarter worth approximately $30,000. FSC Wealth Advisors LLC raised its stake in shares of Salesforce by 1,350.0% during the first quarter. FSC Wealth Advisors LLC now owns 145 shares of the CRM provider’s stock worth $31,000 after acquiring an additional 135 shares in the last quarter. Finally, Financial Enhancement Group LLC grew its holdings in shares of Salesforce by 589.5% in the fourth quarter. Financial Enhancement Group LLC now owns 131 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 112 shares during the last quarter. 77.75% of the stock is currently owned by hedge funds and other institutional investors.

NYSE CRM opened at $162.46 on Friday. Salesforce has a 52-week low of $154.55 and a 52-week high of $311.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a 50-day moving average of $185.83 and a 200-day moving average of $221.01. The stock has a market cap of $160.89 billion, a PE ratio of 108.31, a P/E/G ratio of 4.47 and a beta of 1.16.

Salesforce Company Profile (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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