salesforce.com (NYSE:CRM) Updates Q3 2020 Earnings Guidance

salesforce.com (NYSE:CRM) updated its third quarter 2020 earnings guidance on Thursday. The company provided earnings per share guidance of $0.65-0.66 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.61. 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.

A number of research firms have weighed in on CRM. Bank of America reaffirmed a buy rating and issued a $200.00 price objective on shares of salesforce.com in a research note on Wednesday, June 5th. Royal Bank of Canada raised their price objective on shares of salesforce.com from $181.00 to $200.00 and gave the stock a positive rating in a report on Friday. They noted that the move was a valuation call. SunTrust Banks set a $189.00 price objective on shares of salesforce.com and gave the stock a buy rating in a report on Wednesday. Barclays lifted their target price on shares of salesforce.com from $182.00 to $184.00 and gave the stock an overweight rating in a research note on Friday. Finally, JPMorgan Chase & Co. set a $180.00 price objective on shares of salesforce.com and gave the company a buy rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $182.03.

salesforce.com stock opened at $155.74 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $151.52 and a two-hundred day moving average of $156.22. The stock has a market capitalization of $112.94 billion, a price-to-earnings ratio of 107.41, a PEG ratio of 5.31 and a beta of 1.27. salesforce.com has a twelve month low of $113.60 and a twelve month high of $167.56.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.57. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. salesforce.com’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. Equities analysts predict that salesforce.com will post 1.26 earnings per share for the current year.

In related news, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $140.98, for a total value of $1,409,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 620 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 30,281 shares in the company, valued at approximately $4,726,561.29. The disclosure for this sale can be found here. Insiders sold 297,406 shares of company stock worth $45,207,736 in the last quarter. 5.50% of the stock is owned by insiders.

About salesforce.com

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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