salesforce.com (NYSE:CRM) Issues Q3 Earnings Guidance

salesforce.com (NYSE:CRM) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.65-0.66 for the period, compared to the Thomson Reuters consensus estimate of $0.63. The company issued revenue guidance of $4.44-4.45 billion, compared to the consensus revenue estimate of $4.25 billion.salesforce.com also updated its FY 2020 guidance to $2.82-2.84 EPS.

CRM traded up $0.86 during mid-day trading on Thursday, reaching $148.24. 8,735,481 shares of the company traded hands, compared to its average volume of 5,963,078. The stock has a market capitalization of $111.49 billion, a P/E ratio of 102.23, a P/E/G ratio of 5.24 and a beta of 1.27. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. The company’s fifty day moving average price is $151.52 and its 200-day moving average price is $156.22. salesforce.com has a 52-week low of $113.60 and a 52-week high of $167.56.

salesforce.com (NYSE:CRM) last announced its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.19. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. As a group, sell-side analysts forecast that salesforce.com will post 1.26 earnings per share for the current fiscal year.

CRM has been the subject of a number of research reports. Sanford C. Bernstein reiterated a neutral rating and set a $169.00 target price on shares of salesforce.com in a research note on Tuesday, June 11th. Bank of America reiterated a buy rating and set a $200.00 target price on shares of salesforce.com in a research note on Wednesday, June 5th. Wedbush reiterated an outperform rating and set a $184.00 target price (down from $192.00) on shares of salesforce.com in a research note on Tuesday. ValuEngine lowered shares of salesforce.com from a buy rating to a hold rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. reiterated a buy rating and set a $180.00 target price on shares of salesforce.com in a research note on Monday, June 3rd. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $179.79.

In other salesforce.com news, insider Parker Harris sold 620 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $156.09, for a total value of $96,775.80. Following the completion of the sale, the insider now owns 30,281 shares in the company, valued at approximately $4,726,561.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Marc Benioff sold 10,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $149.88, for a total value of $1,498,800.00. The disclosure for this sale can be found here. Insiders sold a total of 302,406 shares of company stock valued at $45,982,886 over the last 90 days. 5.50% of the stock is currently owned by company insiders.

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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