salesforce.com, inc. (NYSE:CRM) issued its quarterly earnings results on Tuesday. The CRM provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.23. The business earned $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. salesforce.com, inc. had a return on equity of 2.40% and a net margin of 2.60%. The business’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 earnings per share. salesforce.com, inc. updated its Q1 guidance to $0.25-0.26 EPS and its FY18 guidance to $1.27-1.29 EPS.
Shares of salesforce.com, inc. (NYSE:CRM) traded down 0.73% during midday trading on Friday, hitting $84.38. The company’s stock had a trading volume of 4,876,378 shares. The company has a market cap of $59.70 billion, a P/E ratio of 324.54 and a beta of 1.42. salesforce.com, inc. has a 1-year low of $66.43 and a 1-year high of $84.85. The company has a 50-day moving average price of $82.01 and a 200 day moving average price of $75.55. salesforce.com, inc. also was the recipient of some unusual options trading on Thursday. Stock investors acquired 901 put options on the company. This is an increase of approximately 146% compared to the typical daily volume of 366 put options.
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Several research analysts have commented on CRM shares. Vetr downgraded salesforce.com, inc. from a “strong-buy” rating to a “buy” rating and set a $80.00 price target on the stock. in a research report on Tuesday, December 13th. Brean Capital reaffirmed a “buy” rating and issued a $110.00 price target on shares of salesforce.com, inc. in a research report on Thursday, December 15th. Drexel Hamilton started coverage on salesforce.com, inc. in a research report on Monday, December 19th. They issued a “buy” rating and a $100.00 price target on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $80.00 price target on shares of salesforce.com, inc. in a research report on Wednesday, December 28th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 price target on shares of salesforce.com, inc. in a research report on Wednesday, December 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and forty-one have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $94.02.
In other news, Director Susan Wojcicki acquired 1,353 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The shares were bought at an average price of $73.86 per share, with a total value of $99,932.58. Following the acquisition, the director now directly owns 21,356 shares in the company, valued at approximately $1,577,354.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Burke F. Norton sold 210,800 shares of the firm’s stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $81.73, for a total value of $17,228,684.00. Following the sale, the executive vice president now directly owns 290,385 shares in the company, valued at approximately $23,733,166.05. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 5,042 shares of company stock worth $399,883 and sold 1,130,376 shares worth $90,932,474. Company insiders own 6.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. NEXT Financial Group Inc increased its position in shares of salesforce.com, inc. by 2.3% in the third quarter. NEXT Financial Group Inc now owns 1,754 shares of the CRM provider’s stock valued at $125,000 after buying an additional 39 shares during the last quarter. JNBA Financial Advisors increased its position in shares of salesforce.com, inc. by 9.3% in the fourth quarter. JNBA Financial Advisors now owns 1,828 shares of the CRM provider’s stock valued at $125,000 after buying an additional 155 shares during the last quarter. Mycio Wealth Partners LLC increased its position in shares of salesforce.com, inc. by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock valued at $149,000 after buying an additional 44 shares during the last quarter. Hemenway Trust Co LLC bought a new position in shares of salesforce.com, inc. during the fourth quarter valued at approximately $137,000. Finally, Global X Management Co. LLC increased its position in shares of salesforce.com, inc. by 278.4% in the third quarter. Global X Management Co. LLC now owns 2,066 shares of the CRM provider’s stock valued at $147,000 after buying an additional 1,520 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.
salesforce.com, inc. Company Profile
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
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