Salesforce Inc (NYSE:CRM) shares, rose in value on Thursday, April 04, with the stock price down by -1.52% to the previous day’s close as strong demand from buyers drove the stock to $300.10.
Actively observing the price movement in the recent trading, the stock is buoying the session at $304.74. The value of beta (5-year monthly) is 1.28 whereas the PE ratio is 71.37 over 12-month period. Referring to stock’s 52-week performance, its high was $318.71, and the low was $187.31. On the whole, CRM has fluctuated by 0.45% over the past month.
With the market capitalization of Salesforce Inc currently standing at about $291.10 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 29, 2024 – Jun 03, 2024. The company’s Forward Dividend Ratio is 0.40, with its dividend yield at 0.13%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $2.38, which is expected to increase to $2.49 for fiscal year $9.76 and then to about $11 by fiscal year 2026. Data indicates that the EPS growth is expected to be 18.70% in 2026, while the next year’s EPS growth is forecast to be 12.70%.
Analysts have estimated the company’s revenue for the quarter at $9.15 billion, with a low estimate of $9.12 billion and a high estimate of $9.19 billion. Wall Street analysts also predicted that in 2026, the company’s y-o-y revenues would reach $37.98 billion, representing an increase of 9.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CRM’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 4.40, with the price of CRM currently trading nearly -1.22% and 1.42% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.64, while the 7-day volatility ratio is showing 2.08% which for the 30-day chart, stands at 2.02%. Furthermore, Salesforce Inc (CRM)’s beta value is 1.28, and its average true range (ATR) is 7.24.
A comparison of Salesforce Inc (CRM) with its peers suggests the former has fared considerably weaker in the market. CRM showed an intraday change of -1.52% in today’s session so far, and over the past year, it grew by 52.73%%.
Data on historical trading for Salesforce Inc (NYSE:CRM) indicates that the trading volumes over the past 10 days have averaged 4.23 million and over the past 3 months, they’ve averaged 5.69 million. According to company’s latest data on outstanding shares, there are 971.00 million shares outstanding.
Nearly 3.12% of Salesforce Inc’s shares belong to company insiders and institutional investors own 82.40% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 10.64 million shares as on Mar 15, 2024, resulting in a short ratio of 1.44. According to the data, the short interest in Salesforce Inc (CRM) stood at 1.10% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 7.79 million. The stock has risen by 14.05% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CRM stock heading into the next quarter.
