Salesforce (CRM) to Release Earnings on Wednesday

Salesforce (NYSE:CRM) is set to release its earnings data after the market closes on Wednesday, May 29th. Analysts expect Salesforce to post earnings of $2.38 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 earnings per share. On average, analysts expect Salesforce to post $7 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Salesforce Trading Down 2.3 %

NYSE CRM opened at $272.29 on Monday. The company’s 50-day moving average price is $286.94 and its 200-day moving average price is $275.05. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $263.58 billion, a PE ratio of 64.83, a PEG ratio of 2.40 and a beta of 1.30. Salesforce has a 12 month low of $193.68 and a 12 month high of $318.71.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00. Following the completion of the transaction, the chief executive officer now directly owns 13,311,166 shares of the company’s stock, valued at approximately $4,200,205,319.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the sale, the chief executive officer now directly owns 13,311,166 shares in the company, valued at $4,200,205,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders sold a total of 618,870 shares of company stock valued at $179,639,684 in the last three months. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CRM shares. Truist Financial reaffirmed a “buy” rating and issued a $360.00 price objective (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Citigroup increased their price target on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $350.00 price target on shares of Salesforce in a report on Wednesday, April 3rd. Bank of America raised their price objective on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research note on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $310.94.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.