salesforce.com (NYSE:CRM) Updates Q2 2020 Earnings Guidance

salesforce.com (NYSE:CRM) issued an update on its second quarter 2020 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.46-0.47 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.66. The company issued revenue guidance of $3.94-3.95 billion, compared to the consensus revenue estimate of $3.94 billion.salesforce.com also updated its FY 2020 guidance to $2.88-2.90 EPS.

A number of research firms have commented on CRM. Wedbush restated an outperform rating and set a $192.00 price target on shares of salesforce.com in a research note on Friday, May 31st. Royal Bank of Canada restated a buy rating and set a $181.00 price target on shares of salesforce.com in a research note on Monday, June 17th. Nomura restated a buy rating on shares of salesforce.com in a research note on Tuesday, May 28th. BMO Capital Markets restated an outperform rating and set a $185.00 price target (up from $175.00) on shares of salesforce.com in a research note on Tuesday, March 5th. Finally, Canaccord Genuity reiterated a buy rating and issued a $175.00 price objective (up from $165.00) on shares of salesforce.com in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the company’s stock. salesforce.com presently has an average rating of Buy and an average price target of $179.97.

Shares of CRM stock opened at $151.73 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. salesforce.com has a 1 year low of $113.60 and a 1 year high of $167.56. The business’s 50-day moving average price is $154.25. The stock has a market capitalization of $116.55 billion, a price-to-earnings ratio of 104.64, a price-to-earnings-growth ratio of 5.52 and a beta of 1.39.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.32. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter last year, the company posted $0.74 earnings per share. The business’s revenue was up 24.3% on a year-over-year basis. On average, research analysts forecast that salesforce.com will post 1.25 EPS for the current fiscal year.

In related news, insider Parker Harris sold 6,331 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $157.36, for a total transaction of $996,246.16. Following the transaction, the insider now owns 33,883 shares of the company’s stock, valued at $5,331,828.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $149.73, for a total transaction of $1,497,300.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 395,167 shares of company stock worth $62,110,903. Corporate insiders own 5.50% 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.

Further Reading: Liquidity

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

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.