Published: Wed, August 23, 2017
Money | By Armando Alvarado

A First Look Into Salesforce.com, inc. (CRM) 2Q Earnings

A First Look Into Salesforce.com, inc. (CRM) 2Q Earnings

Karp Capital Management Corp sold 4,785 shares as Salesforce (CRM)'s stock rose 7.28%.

At time of publication, shares traded down about 1.5 percent at $91.40.

Net income was $17.7m, down from $229.6m a year ago when Salesforce benefited from a favorable tax return.

In the hours before Salesforce Q2 2018 earnings are to be released, the company's stock rose by more than 1% to as high as $93.32 by midday.

Analysts await salesforce.com, inc.

Inc (NYSE:CRM) was upgraded by research analysts at BidaskClub from a "hold" rating to a "buy" rating in a research note issued on Tuesday. It has underperformed by 8.92% the S&P500. Therefore 63% are positive. Under Armour had 89 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned "Buy" rating on Thursday, October 8 by Goldman Sachs. The firm has "Neutral" rating given on Friday, November 20 by DA Davidson. As per Wednesday, June 15, the company rating was initiated by BMO Capital Markets. Its up 0.19, from 0.81 in 2016Q3. It worsened, as 89 investors sold CRM shares while 255 reduced holdings. BB&T Securities LLC raised its position in shares of Salesforce.com by 12.4% in the second quarter. 108.28 million shares or 2.14% more from 106.01 million shares in 2016Q3 were reported. Mesirow Finance Investment Mngmt has invested 0.03% in salesforce.com, inc. Hhr Asset Management Llc, a New Jersey-based fund reported 417,387 shares. Zweig, Alabama-based fund reported 65,248 shares. Its shares have trimmed -0.79% since hitting a peak level of $92.49 on August 17, 2017. Vigilant Lc accumulated 0% or 176 shares. Synovus owns 18,572 shares for 0.03% of their portfolio. Miles Capital holds 0.15% or 3,551 shares.

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Cash generated by operations grew to $331 million in the quarter, an increase of 32 percent. Another trade for 8,624 shares valued at $697,176 was made by Hawkins Mark J on Monday, March 27. Paloma Prtnrs Communications stated it has 0.07% of its portfolio in salesforce.com, inc. Dubuque Bank & Trust Co. raised its stake in shares of Salesforce.com by 387.1% in the first quarter. Commerzbank Aktiengesellschaft Fi has 171,945 shares. Kessler Group Inc Limited Liability Com has invested 0.45% in salesforce.com, inc. The company's stock had a trading volume of 11,005,171 shares. Oppenheimer maintained salesforce.com, inc. (NYSE:CRM) for 3,449 shares. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and forty-two have given a buy rating to the company's stock. Therefore 87% are positive.

As for the outlook, analysts are looking for earnings of 36 cents a share on revenue of $2.61 billion for the current quarter.

In fact, percentage growth in that expense line almost matched revenue growth, making marketing and sales the engine of the company's growth, said Andrew Bartels, vice president and principal analyst at Forrester Research Inc. The rating was maintained by RBC Capital Markets with "Sector Perform" on Thursday, February 23. Wunderlich maintained the stock with "Buy" rating in Thursday, November 19 report. The firm has "Buy" rating given on Wednesday, September 7 by Citigroup. On Thursday, May 19 the stock rating was maintained by UBS with "Buy". The company was maintained on Tuesday, August 25 by Wedbush. That's when Salesforce is expected to announce and unveil some new products, and there will likely especially be scrutiny on its so-called "Einstein" AI products. FBR Capital maintained the shares of CRM in report on Saturday, August 22 with "Outperform" rating. Raymond James downgraded the shares of MASI in report on Wednesday, January 6 to "Outperform" rating. Cowen & Co maintained salesforce.com, inc. The firm has "Buy" rating by Needham given on Tuesday, June 14. (NYSE:CRM) or 800 shares. They expect $0.09 EPS, up 28.57% or $0.02 from last year's $0.07 per share. CRM's profit will be $64.10M for 257.42 P/E if the $0.09 EPS becomes a reality. (NYSE:CRM). State Street Corp reported 0.17% in salesforce.com, inc.

Since February 21, 2017, it had 4 insider purchases, and 154 selling transactions for $162.87 million activity. (NYSE:CRM). Bb&T Securities Ltd Liability Corporation has 22,165 shares. Benioff Marc sold $820,665 worth of stock. $15,908 worth of salesforce.com, inc. The insider Roos John Victor sold $16,909. Wojcicki Susan also bought $99,976 worth of salesforce.com, inc.

Winslow Capital Management Llc, which manages about $33.78 billion and $21.73 billion US Long portfolio, decreased its stake in Activision Blizzard Inc (NASDAQ:ATVI) by 5.50M shares to 30 shares, valued at $1,000 in 2016Q4, according to the filing. (NYSE:CRM) also leans strongly towards the bullish end of the spectrum.

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