Salesforce (CRM) Set to Announce Quarterly Earnings on Tuesday

Salesforce (NYSE:CRM) is scheduled to post its quarterly earnings results after the market closes on Tuesday, December 3rd. Analysts expect Salesforce to post earnings of $2.43 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. On average, analysts expect Salesforce to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Salesforce Price Performance

Shares of Salesforce stock opened at $339.12 on Tuesday. The firm has a market cap of $324.20 billion, a PE ratio of 58.98, a P/E/G ratio of 3.10 and a beta of 1.29. The business has a 50-day moving average price of $296.26 and a 200 day moving average price of $268.98. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce has a twelve month low of $212.00 and a twelve month high of $348.86.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent analyst reports. Wedbush boosted their price target on shares of Salesforce from $325.00 to $375.00 and gave the stock an “outperform” rating in a report on Monday. Robert W. Baird lifted their price target on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. JMP Securities increased their price objective on Salesforce from $342.00 to $450.00 and gave the company a “market outperform” rating in a research note on Friday. Truist Financial lifted their target price on shares of Salesforce from $315.00 to $380.00 and gave the stock a “buy” rating in a research note on Monday. Finally, BMO Capital Markets increased their target price on shares of Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.66.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 5.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,510 shares of company stock valued at $42,475,538. 3.20% of the stock is currently owned by corporate insiders.

About Salesforce

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.