salesforce.com (NYSE:CRM) Releases FY 2022 Earnings Guidance

salesforce.com (NYSE:CRM) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.360-$4.380 for the period, compared to the Thomson Reuters consensus estimate of $3.820. The company issued revenue guidance of $26.20 billion-$26.30 billion, compared to the consensus revenue estimate of $26.01 billion.salesforce.com also updated its Q3 2022 guidance to $0.910-$0.920 EPS.

A number of brokerages recently weighed in on CRM. Roth Capital increased their price target on shares of salesforce.com from $200.00 to $242.00 and gave the stock a neutral rating in a research note on Thursday, August 26th. Bank of America increased their price target on shares of salesforce.com from $300.00 to $320.00 and gave the stock a buy rating in a research note on Thursday, August 26th. Stifel Nicolaus increased their price target on shares of salesforce.com from $295.00 to $315.00 and gave the stock a buy rating in a research note on Thursday, August 26th. Royal Bank of Canada set a $310.00 price target on shares of salesforce.com in a research note on Wednesday, September 1st. Finally, Citigroup increased their price target on shares of salesforce.com from $250.00 to $280.00 and gave the stock a neutral rating in a research note on Thursday, August 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $298.33.

CRM opened at $254.37 on Wednesday. The company’s 50 day simple moving average is $251.35 and its 200 day simple moving average is $235.19. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.93 and a current ratio of 0.93. salesforce.com has a 1 year low of $201.51 and a 1 year high of $275.22. The stock has a market capitalization of $249.03 billion, a PE ratio of 102.16, a P/E/G ratio of 7.35 and a beta of 1.09.

salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.56. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The business had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same period last year, the company earned $1.44 earnings per share. The company’s quarterly revenue was up 23.1% on a year-over-year basis. As a group, sell-side analysts expect that salesforce.com will post 2.09 earnings per share for the current fiscal year.

In related news, insider Parker Harris sold 4,300 shares of salesforce.com stock in a transaction on Tuesday, June 22nd. The shares were sold at an average price of $242.65, for a total value of $1,043,395.00. Following the completion of the sale, the insider now owns 85,431 shares in the company, valued at $20,729,832.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 20,000 shares of the business’s stock in a transaction on Thursday, June 17th. The shares were sold at an average price of $244.65, for a total transaction of $4,893,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 776,356 shares of company stock worth $194,260,597. 4.10% of the stock is currently owned by corporate insiders.

An institutional investor recently raised its position in salesforce.com stock. Morgan Stanley grew its position in shares of salesforce.com, inc. (NYSE:CRM) by 20.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,563,897 shares of the CRM provider’s stock after acquiring an additional 2,787,393 shares during the quarter. Morgan Stanley owned about 1.79% of salesforce.com worth $4,046,065,000 as of its most recent filing with the SEC. 77.33% of the stock is owned by institutional investors.

About salesforce.com

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

Further Reading: What is Liquidity?

Earnings History and Estimates for salesforce.com (NYSE:CRM)

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.