Analysts Offer Predictions for salesforce.com, Inc.’s FY2022 Earnings | The Salesmark

Analysts Offer Predictions for salesforce.com, Inc.’s FY2022 Earnings

Analysts Offer Predictions for salesforce.com, Inc.’s FY2022 Earnings

Analysts at Jefferies Financial Group upped their FY2022 EPS estimates for shares of salesforce.com in a report released on Wednesday, December 1st. Jefferies Financial Group analyst B. Thill now expects that the CRM provider will earn $2.41 per share for the year, up from their previous estimate of $2.17. Jefferies Financial Group also issued estimates for salesforce.com’s Q4 2022 earnings at $0.12 EPS, Q2 2023 earnings at $0.57 EPS, Q3 2023 earnings at $0.51 EPS, Q4 2023 earnings at $0.53 EPS and FY2023 earnings at $2.12 EPS.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, November 30th. The CRM provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.35. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.80 billion. salesforce.com had a net margin of 6.96% and a return on equity of 5.71%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 earnings per share.

A number of other equities analysts have also recently weighed in on the company. Societe Generale lifted their price target on salesforce.com from $290.00 to $321.00 and gave the stock a “buy” rating in a research note on Friday, August 27th. JMP Securities boosted their target price on salesforce.com from $320.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, September 24th. Evercore ISI upped their price target on salesforce.com from $325.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, September 24th. They noted that the move was a valuation call. KGI Securities upgraded salesforce.com from a “neutral” rating to an “outperform” rating and set a $330.00 price objective on the stock in a research report on Thursday, August 26th. Finally, Stifel Nicolaus increased their target price on salesforce.com from $315.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 24th. Six research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $325.23.

Shares of NYSE CRM opened at $258.75 on Monday. salesforce.com has a fifty-two week low of $201.51 and a fifty-two week high of $311.75. The firm’s 50-day simple moving average is $289.03 and its 200 day simple moving average is $262.77. The company has a quick ratio of 0.93, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. The stock has a market cap of $253.32 billion, a P/E ratio of 142.96, a P/E/G ratio of 4.90 and a beta of 1.10.

Several large investors have recently bought and sold shares of the company. DAVENPORT & Co LLC boosted its stake in shares of salesforce.com by 161.3% during the 2nd quarter. DAVENPORT & Co LLC now owns 5,599 shares of the CRM provider’s stock worth $1,366,000 after purchasing an additional 3,456 shares during the last quarter. Hillsdale Investment Management Inc. grew its position in shares of salesforce.com by 12.8% during the second quarter. Hillsdale Investment Management Inc. now owns 440 shares of the CRM provider’s stock worth $107,000 after buying an additional 50 shares in the last quarter. Emerald Advisers LLC acquired a new position in salesforce.com in the second quarter worth $82,000. Tufton Capital Management boosted its holdings in salesforce.com by 6.1% in the second quarter. Tufton Capital Management now owns 1,125 shares of the CRM provider’s stock worth $274,000 after purchasing an additional 65 shares during the period. Finally, Avalon Investment & Advisory lifted its stake in salesforce.com by 34.8% in the second quarter. Avalon Investment & Advisory now owns 12,000 shares of the CRM provider’s stock valued at $2,931,000 after buying an additional 3,097 shares during the last quarter. 73.41% of the stock is currently owned by institutional investors and hedge funds.

In other salesforce.com news, CEO Marc Benioff sold 20,000 shares of the firm’s stock in a transaction on Monday, September 13th. The shares were sold at an average price of $253.59, for a total value of $5,071,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 7,262 shares of the stock in a transaction on Monday, November 15th. The stock was sold at an average price of $306.90, for a total transaction of $2,228,707.80. The disclosure for this sale can be found here. Insiders sold a total of 608,177 shares of company stock worth $171,407,464 over the last 90 days. Insiders own 4.10% of the company’s stock.

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