salesforce.com (CRM) reported quarterly earnings results on Wednesday, May-18-2016. The company said it had a profit of $0.24 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.23. The company posted revenue of $1.92 million in the period, compared to analysts expectations of $1892.96 million. The company’s revenue was down -99.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.
Many Wall Street Analysts have commented on salesforce.com. Company shares were Reiterated by Jefferies on May 17, 2016 to “Hold”, Firm has raised the Price Target to $ 74 from a previous price target of $60 .Company shares were Reiterated by Barclays on May 12, 2016 to “Overweight”, Firm has raised the Price Target to $ 88 from a previous price target of $72 .salesforce.com was Initiated by Macquarie to “Outperform” on Mar 4, 2016.
salesforce.com opened for trading at $76.67 and hit $77.69 on the upside on Monday, eventually ending the session at $77.31, with a gain of 1.23% or 0.94 points. The heightened volatility saw the trading volume jump to 41,41,822 shares. Company has a market cap of $51,867 M.
In a different news, on May 17, 2016, Parker Harris (Co-Founder) sold 5,000 shares at $77.00 per share price. According to the SEC, on May 17, 2016, John Victor Roos (director) sold 180 shares at $77.40 per share price. On May 16, 2016, Craig Conway (director) sold 400 shares at $76.81 per share price, according to the Form-4 filing with the securities and exchange commission.
salesforce.com inc. is a provider of enterprise cloud computing solutions that include apps and platform services as well as professional services. The Company focuses on customer relationship management (CRM). The Company offers six core cloud services that include sales force automation customer service and support marketing automation community management analytics and a cloud platform for building custom applications. The Company offers consulting deployment training implementation and integration services to its customers to facilitate the adoption of its cloud solutions. The Company delivers its solutions as a service through all the Internet browsers and on mobile devices on a subscription basis primarily through its direct sales efforts and indirectly through partners.