Salesforce (NYSE:CRM) Issues Q3 Earnings Guidance

Salesforce (NYSE:CRM) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $2.42-$2.44 for the period, compared to the consensus EPS estimate of $2.42. The company issued revenue guidance of $9.31-$9.36 billion, compared to the consensus revenue estimate of $9.40 billion. Salesforce also updated its FY25 guidance to $10.03-$10.11 EPS.

Analysts Set New Price Targets

Several brokerages have recently commented on CRM. Truist Financial restated a buy rating and set a $300.00 price target (down previously from $360.00) on shares of Salesforce in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Salesforce from $350.00 to $300.00 and set a buy rating for the company in a report on Thursday, May 30th. Jefferies Financial Group lowered their price target on Salesforce from $360.00 to $350.00 and set a buy rating on the stock in a research report on Thursday, May 30th. Royal Bank of Canada reaffirmed an outperform rating and issued a $350.00 price target on shares of Salesforce in a research report on Friday, May 24th. Finally, BMO Capital Markets lowered their price target on Salesforce from $335.00 to $265.00 and set an outperform rating on the stock in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of Moderate Buy and a consensus price target of $292.38.

Salesforce Trading Down 2.0 %

CRM stock traded down $5.30 during trading on Wednesday, hitting $258.90. The company had a trading volume of 10,347,628 shares, compared to its average volume of 6,561,822. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $252.79 and a 200-day moving average price of $271.82. Salesforce has a 12 month low of $193.68 and a 12 month high of $318.71. The stock has a market cap of $250.87 billion, a price-to-earnings ratio of 46.76, a PEG ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the previous year, the company posted $1.15 EPS. Salesforce’s revenue was up 10.7% on a year-over-year basis. As a group, analysts predict that Salesforce will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio is presently 28.78%.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 4,056 shares of Salesforce stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total transaction of $1,060,644.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 4,056 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total transaction of $1,060,644.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,764 shares of company stock valued at $30,102,367. Company insiders own 3.20% of the company’s stock.

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.