Salesforce (CRM) Scheduled to Post Quarterly Earnings on Wednesday
Salesforce (NYSE:CRM – Get Free Report) will be announcing its earnings results after the market closes on Wednesday, May 29th. Analysts expect the company to announce earnings of $2.38 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.
Salesforce (NYSE:CRM – Get Free Report) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the company earned $1.01 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, analysts expect Salesforce to post $7 EPS for the current fiscal year and $9 EPS for the next fiscal year.
Salesforce Stock Down 1.2 %
NYSE:CRM opened at $283.76 on Wednesday. The firm’s 50 day simple moving average is $288.30 and its 200 day simple moving average is $273.61. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce has a one year low of $193.68 and a one year high of $318.71. The company has a market cap of $274.68 billion, a PE ratio of 67.56, a P/E/G ratio of 2.20 and a beta of 1.30.
Salesforce Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.56%. Salesforce’s dividend payout ratio is presently 9.52%.
Analysts Set New Price Targets
Several equities research analysts recently commented on CRM shares. StockNews.com downgraded shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Citigroup boosted their price target on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. BMO Capital Markets boosted their price target on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Piper Sandler restated a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a research report on Monday, April 15th. Finally, Evercore ISI boosted their price target on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $310.61.
Get Our Latest Stock Report on Salesforce
Insiders Place Their Bets
In other news, insider Srinivas Tallapragada sold 2,474 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $295.59, for a total value of $731,289.66. Following the completion of the sale, the insider now owns 60,416 shares in the company, valued at $17,858,365.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Srinivas Tallapragada sold 2,474 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $295.59, for a total transaction of $731,289.66. Following the completion of the sale, the insider now owns 60,416 shares in the company, valued at $17,858,365.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction dated 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 owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 640,499 shares of company stock worth $186,305,734. Insiders own 3.20% of the company’s stock.
About Salesforce
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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