Salesforce (NYSE:CRM) Announces Earnings Results
Salesforce (NYSE:CRM – Get Free Report) posted its quarterly earnings data on Wednesday. The CRM provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.38 by $0.06, Briefing.com reports. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year.
Salesforce Trading Up 0.8 %
NYSE:CRM traded up $2.27 on Wednesday, hitting $272.10. The stock had a trading volume of 12,906,722 shares, compared to its average volume of 5,450,530. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $263.39 billion, a price-to-earnings ratio of 64.79, a PEG ratio of 2.40 and a beta of 1.30. The company has a fifty day moving average price of $285.06 and a two-hundred day moving average price of $275.85. Salesforce has a 1-year low of $193.68 and a 1-year high of $318.71.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Jefferies Financial Group lifted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Truist Financial restated a “buy” rating and set a $360.00 target price (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Evercore ISI boosted their target price on shares of Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. JMP Securities restated a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research report on Monday, April 15th. Finally, Oppenheimer lifted their price objective on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Monday, February 12th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $310.94.
Check Out Our Latest Report on Salesforce
Insider Buying and Selling at Salesforce
In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the transaction, the chief executive officer now directly owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the transaction, the chief executive officer now directly owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold 638,070 shares of company stock worth $184,395,926 in the last ninety days. 3.20% of the stock is owned by insiders.
Salesforce Company Profile
Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company’s service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.
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