salesforce.com, inc. (NYSE:CRM) Expected to Post Quarterly Sales of $4.45 Billion

Analysts forecast that salesforce.com, inc. (NYSE:CRM) will announce sales of $4.45 billion for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for salesforce.com’s earnings, with estimates ranging from $4.44 billion to $4.48 billion. salesforce.com reported sales of $3.39 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 31.3%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 26th.

According to Zacks, analysts expect that salesforce.com will report full-year sales of $16.86 billion for the current fiscal year, with estimates ranging from $16.81 billion to $17.00 billion. For the next financial year, analysts forecast that the company will report sales of $20.90 billion, with estimates ranging from $20.34 billion to $21.44 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow salesforce.com.

salesforce.com (NYSE:CRM) last released its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.57. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share.

A number of research analysts recently commented on CRM shares. Northland Securities set a $185.00 price target on salesforce.com and gave the company a “buy” rating in a report on Friday, August 23rd. JMP Securities increased their price target on salesforce.com from $178.00 to $191.00 and gave the company a “market outperform” rating in a report on Friday, August 23rd. ValuEngine downgraded salesforce.com from a “buy” rating to a “hold” rating in a report on Wednesday. Nomura increased their price target on salesforce.com from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Canaccord Genuity increased their price target on salesforce.com from $175.00 to $185.00 and gave the company a “buy” rating in a report on Friday, August 23rd. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $184.31.

NYSE:CRM traded up $0.80 on Tuesday, hitting $147.80. 2,159,595 shares of the stock were exchanged, compared to its average volume of 4,621,369. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. salesforce.com has a fifty-two week low of $113.60 and a fifty-two week high of $167.56. The stock has a market cap of $129.52 billion, a PE ratio of 101.93, a PEG ratio of 5.64 and a beta of 1.23. The stock has a fifty day moving average of $150.64 and a 200-day moving average of $154.73.

In related news, insider Parker Harris sold 620 shares of salesforce.com stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $153.35, for a total transaction of $95,077.00. Following the completion of the sale, the insider now owns 30,092 shares of the company’s stock, valued at $4,614,608.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $153.26, for a total value of $1,532,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 287,452 shares of company stock valued at $43,677,508. 5.50% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Allred Capital Management LLC increased its stake in shares of salesforce.com by 1.6% in the second quarter. Allred Capital Management LLC now owns 4,494 shares of the CRM provider’s stock worth $692,000 after purchasing an additional 71 shares during the period. Clear Perspective Advisors LLC increased its stake in shares of salesforce.com by 4.6% in the second quarter. Clear Perspective Advisors LLC now owns 1,646 shares of the CRM provider’s stock worth $250,000 after purchasing an additional 72 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of salesforce.com by 9.1% in the second quarter. Parkside Financial Bank & Trust now owns 890 shares of the CRM provider’s stock worth $135,000 after purchasing an additional 74 shares during the period. Abbrea Capital LLC increased its stake in shares of salesforce.com by 3.4% in the second quarter. Abbrea Capital LLC now owns 2,405 shares of the CRM provider’s stock worth $365,000 after purchasing an additional 80 shares during the period. Finally, Lourd Capital LLC increased its stake in shares of salesforce.com by 4.1% in the second quarter. Lourd Capital LLC now owns 2,084 shares of the CRM provider’s stock worth $316,000 after purchasing an additional 82 shares during the period. Institutional investors and hedge funds own 73.65% of the company’s stock.

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

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