Brokerages predict that salesforce.com, inc. (NYSE:CRM) will report sales of $4.90 billion for the current quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for salesforce.com’s earnings, with the lowest sales estimate coming in at $4.89 billion and the highest estimate coming in at $4.92 billion. salesforce.com reported sales of $4.00 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 22.5%. The business is scheduled to issue its next earnings report on Thursday, August 27th.

According to Zacks, analysts expect that salesforce.com will report full year sales of $20.05 billion for the current fiscal year, with estimates ranging from $19.99 billion to $20.42 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $23.61 billion, with estimates ranging from $22.98 billion to $24.36 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow salesforce.com.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Thursday, May 28th. The CRM provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.85 billion. salesforce.com had a negative net margin of 0.92% and a positive return on equity of 2.45%. salesforce.com’s revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS.

Several equities analysts have weighed in on CRM shares. Wells Fargo & Co lifted their target price on salesforce.com from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Sanford C. Bernstein reaffirmed a “neutral” rating and issued a $186.00 target price on shares of salesforce.com in a research report on Monday, June 22nd. Piper Sandler dropped their target price on salesforce.com from $205.00 to $193.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. OTR Global downgraded salesforce.com to a “positive” rating in a research report on Wednesday, May 13th. Finally, Goldman Sachs Group lifted their target price on salesforce.com from $204.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. salesforce.com has an average rating of “Buy” and an average price target of $199.77.

In other news, CAO Joe Allanson sold 218 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $191.71, for a total transaction of $41,792.78. Following the completion of the sale, the chief accounting officer now owns 31,559 shares in the company, valued at $6,050,175.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Srinivas Tallapragada sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $150.50, for a total value of $752,500.00. Following the sale, the insider now owns 44,314 shares of the company’s stock, valued at approximately $6,669,257. The disclosure for this sale can be found here. In the last quarter, insiders sold 566,252 shares of company stock valued at $99,460,166. 4.40% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in CRM. Truehand Inc acquired a new position in salesforce.com during the second quarter worth $82,000. State of Alaska Department of Revenue grew its holdings in salesforce.com by 5.0% during the second quarter. State of Alaska Department of Revenue now owns 173,053 shares of the CRM provider’s stock worth $32,416,000 after acquiring an additional 8,223 shares during the period. Ellevest Inc. grew its holdings in salesforce.com by 34.3% during the second quarter. Ellevest Inc. now owns 2,270 shares of the CRM provider’s stock worth $425,000 after acquiring an additional 580 shares during the period. Private Asset Management Inc. grew its holdings in salesforce.com by 7.4% during the second quarter. Private Asset Management Inc. now owns 21,005 shares of the CRM provider’s stock worth $3,935,000 after acquiring an additional 1,443 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in salesforce.com by 21.9% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 11,988 shares of the CRM provider’s stock worth $2,086,000 after acquiring an additional 2,157 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

NYSE CRM traded up $5.19 during trading on Wednesday, hitting $197.72. The stock had a trading volume of 5,793,054 shares, compared to its average volume of 6,977,871. The company has a market capitalization of $173.47 billion, a PE ratio of -1,098.44, a PEG ratio of 9.50 and a beta of 1.08. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $180.34 and a 200 day moving average price of $170.17. salesforce.com has a twelve month low of $115.29 and a twelve month high of $199.45.

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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