Salesforce.com Inc (NYSE:CRM) announced its quarterly earnings data on Tuesday. The CRM provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02, Bloomberg Earnings reports. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the prior year, the company earned $0.24 EPS. Salesforce.com’s revenue was up 25.0% compared to the same quarter last year. Salesforce.com updated its Q4 guidance to 0.32-0.33 EPS.
Shares of Salesforce.com (NYSE CRM) traded up $1.43 during trading hours on Tuesday, hitting $108.80. 10,494,481 shares of the company’s stock were exchanged, compared to its average volume of 4,366,885. The firm has a market capitalization of $78,190.00, a PE ratio of 537.90, a price-to-earnings-growth ratio of 10.67 and a beta of 1.23. Salesforce.com has a 52 week low of $66.43 and a 52 week high of $109.00. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.08.
Several analysts have recently weighed in on CRM shares. J P Morgan Chase & Co reissued a “buy” rating and issued a $95.00 price target on shares of Salesforce.com in a research note on Wednesday, August 23rd. Drexel Hamilton reissued a “buy” rating and issued a $111.00 price target on shares of Salesforce.com in a research note on Wednesday, August 23rd. Piper Jaffray Companies reissued a “buy” rating and issued a $115.00 price target on shares of Salesforce.com in a research note on Wednesday, November 1st. Deutsche Bank AG reissued a “buy” rating and issued a $90.00 price target (down previously from $95.00) on shares of Salesforce.com in a research note on Wednesday, August 23rd. Finally, Canaccord Genuity reissued a “buy” rating on shares of Salesforce.com in a research note on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and forty-six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $108.49.
Salesforce.com Company Profile
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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