Jefferies Financial Group Weighs in on salesforce.com, inc.’s Q3 2020 Earnings (NYSE:CRM)

salesforce.com, inc. (NYSE:CRM) – Research analysts at Jefferies Financial Group issued their Q3 2020 earnings estimates for salesforce.com in a research note issued on Monday, October 7th. Jefferies Financial Group analyst B. Thill forecasts that the CRM provider will earn $0.30 per share for the quarter. Jefferies Financial Group currently has a “Buy” rating and a $171.00 target price on the stock. Jefferies Financial Group also issued estimates for salesforce.com’s Q4 2020 earnings at $0.23 EPS, FY2020 earnings at $1.38 EPS, Q1 2021 earnings at $0.34 EPS, Q2 2021 earnings at $0.35 EPS, Q3 2021 earnings at $0.35 EPS, Q4 2021 earnings at $0.36 EPS and FY2021 earnings at $1.40 EPS.

Several other equities analysts have also issued reports on the company. BMO Capital Markets raised their price target on salesforce.com from $185.00 to $188.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. set a $180.00 price target on salesforce.com and gave the stock a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley raised their price target on salesforce.com from $178.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. KeyCorp set a $180.00 price target on salesforce.com and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Macquarie raised their price target on salesforce.com from $184.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the stock. salesforce.com presently has an average rating of “Buy” and a consensus price target of $184.31.

CRM opened at $149.37 on Thursday. The stock’s 50 day simple moving average is $151.31 and its 200 day simple moving average is $154.13. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. salesforce.com has a 1 year low of $113.60 and a 1 year high of $167.56. The firm has a market cap of $127.96 billion, a price-to-earnings ratio of 103.01, a PEG ratio of 5.64 and a beta of 1.23.

salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.57. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the company earned $0.71 EPS. salesforce.com’s revenue for the quarter was up 21.8% compared to the same quarter last year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Buckingham Capital Management Inc. lifted its stake in shares of salesforce.com by 6.2% in the 1st quarter. Buckingham Capital Management Inc. now owns 34,547 shares of the CRM provider’s stock valued at $5,471,000 after purchasing an additional 2,028 shares during the period. Fiera Capital Corp raised its stake in salesforce.com by 341.3% during the first quarter. Fiera Capital Corp now owns 7,370 shares of the CRM provider’s stock valued at $1,167,000 after buying an additional 5,700 shares during the last quarter. Private Advisor Group LLC raised its stake in salesforce.com by 95.1% during the first quarter. Private Advisor Group LLC now owns 26,542 shares of the CRM provider’s stock valued at $4,204,000 after buying an additional 12,941 shares during the last quarter. Northstar Capital Management LLC raised its stake in salesforce.com by 2.3% during the first quarter. Northstar Capital Management LLC now owns 23,924 shares of the CRM provider’s stock valued at $3,789,000 after buying an additional 529 shares during the last quarter. Finally, Sheets Smith Wealth Management raised its stake in salesforce.com by 321.1% during the first quarter. Sheets Smith Wealth Management now owns 11,390 shares of the CRM provider’s stock valued at $1,804,000 after buying an additional 8,685 shares during the last quarter. Institutional investors own 73.65% of the company’s stock.

In other news, CEO Marc Benioff sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $158.94, for a total value of $794,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 620 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $147.27, for a total value of $91,307.40. Following the completion of the transaction, the insider now owns 32,034 shares of the company’s stock, valued at approximately $4,717,647.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 282,339 shares of company stock valued at $42,770,272. 5.50% of the stock is currently owned by company insiders.

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.

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

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