Salesforce.com (NYSE:CRM) – Stock analysts at William Blair boosted their Q1 2019 earnings estimates for Salesforce.com in a research note issued to investors on Tuesday, April 3rd. William Blair analyst B. Suri now expects that the CRM provider will earn $0.21 per share for the quarter, up from their prior estimate of $0.19. William Blair also issued estimates for Salesforce.com’s Q3 2019 earnings at $0.32 EPS, FY2019 earnings at $1.17 EPS and FY2020 earnings at $1.61 EPS.
Other research analysts have also issued research reports about the stock. TheStreet raised shares of Salesforce.com from a “c” rating to a “b-” rating in a research report on Wednesday, February 28th. Jefferies Group raised shares of Salesforce.com from a “hold” rating to a “buy” rating and cut their price objective for the company from $97.00 to $84.00 in a research report on Thursday, February 15th. Vetr raised shares of Salesforce.com from a “hold” rating to a “buy” rating and set a $113.54 price objective for the company in a research report on Monday, February 12th. UBS set a $135.00 price objective on shares of Salesforce.com and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, Cleveland Research initiated coverage on shares of Salesforce.com in a research report on Wednesday, January 31st. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and forty-five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $124.28.
Salesforce.com (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.81 billion. Salesforce.com had a net margin of 1.22% and a return on equity of 3.86%. The business’s revenue was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS.
In other news, Chairman Marc Benioff sold 5,000 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $108.60, for a total transaction of $543,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Susan Wojcicki purchased 6,000 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were bought at an average cost of $109.14 per share, for a total transaction of $654,840.00. Following the completion of the purchase, the director now directly owns 39,223 shares of the company’s stock, valued at $4,280,798.22. The disclosure for this purchase can be found here. Insiders have sold 339,666 shares of company stock worth $39,328,512 over the last three months. 6.20% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Buckingham Capital Management Inc. lifted its holdings in Salesforce.com by 18.6% in the third quarter. Buckingham Capital Management Inc. now owns 21,473 shares of the CRM provider’s stock valued at $2,006,000 after buying an additional 3,360 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Salesforce.com by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 735,951 shares of the CRM provider’s stock valued at $68,749,000 after buying an additional 4,510 shares during the period. Sheaff Brock Investment Advisors LLC acquired a new position in Salesforce.com in the third quarter valued at approximately $214,000. Private Advisor Group LLC lifted its holdings in Salesforce.com by 43.1% in the third quarter. Private Advisor Group LLC now owns 14,247 shares of the CRM provider’s stock valued at $1,369,000 after buying an additional 4,294 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in Salesforce.com in the third quarter valued at approximately $1,724,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.
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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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