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.