Salesforce (NYSE:CRM) Posts Earnings Results, Misses Estimates By $0.03 EPS

Salesforce (NYSE:CRM) posted its earnings results on Tuesday. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03), RTT News reports. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.31% and a net margin of 15.96%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.62 earnings per share.

Salesforce Stock Up 11.0 %

CRM stock opened at $367.94 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $351.75 billion, a price-to-earnings ratio of 60.52, a PEG ratio of 3.00 and a beta of 1.30. The business’s fifty day moving average price is $306.55 and its two-hundred day moving average price is $271.81. Salesforce has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRM. Barclays boosted their target price on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday. Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. Canaccord Genuity Group upped their price target on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Scotiabank increased their price target on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $370.50.

Insider Buying and Selling

In other news, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now directly owns 828 shares in the company, valued at $202,702.68. The trade was a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,982 shares of company stock worth $41,591,457. Company insiders own 3.20% of the company’s stock.

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.