Salesforce (CRM) Expected to Announce Quarterly Earnings on Wednesday

Salesforce (NYSE:CRM) is expected to announce its earnings results after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of $2.60 per share and revenue of $10.04 billion for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the company earned $1.62 EPS. Salesforce’s revenue was up 8.3% compared to the same quarter last year. On average, analysts expect Salesforce to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Salesforce Price Performance

Shares of Salesforce stock opened at $328.62 on Wednesday. The business has a 50 day simple moving average of $336.04 and a two-hundred day simple moving average of $303.93. Salesforce has a 12 month low of $212.00 and a 12 month high of $369.00. The stock has a market capitalization of $314.49 billion, a P/E ratio of 54.05, a PEG ratio of 2.66 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Buying and Selling at Salesforce

In other news, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the sale, the insider now owns 4,659 shares in the company, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock worth $384,366,700 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on CRM. BMO Capital Markets increased their price target on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Scotiabank increased their price target on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have issued 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 price target of $377.63.

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.