Stock Update (NYSE:CRM): Salesforce names new COO, ‘hits the reset button’ on its apps

[at American City Business Journals] – In an address laying out the company’s six-month plan, Salesforce CEO Marc Benioff described how ‘digital transformation’ is shaking up executive suites, placing technology roles like chief information officer front and center as companies are forced to adapt. “Every company going to be a cloud company,” Benioff said. Where’s the roadmap?” Cloud and mobile technologies are forcing businesses to restructure from the top down, and it turns out that may start with Salesforce. Read more on this. salesforce.com, inc. (CRM) , with a current market cap of $42.74B, opened at $65.65. A quick look at the market, the company’s stock traded between $63.24 and $66.50 with a one year range of $57.82 to $82.90. CRM shares are currently priced at 86.03x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 6.91x forward p/e ratio. According to a consensus of 41 analysts, the earnings estimate of $0.19 per share would be $0.05 better than the year-ago quarter and a $0.00 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $0.75, which would be a $0.23 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.79 Billion. If realized, that would be a 24.31% increase over the year-ago quarter. In terms of ratings, Wedbush upgraded CRM from Neutral to Outperform (Dec 18, 2015). Previously, Pivotal Research Group upgraded CRM from Hold to Buy. The average price target for CRM shares is $90.16, which is 37.33% above where the stock opened this morning. See more in (NYSE:CRM) Similar Articles: Stock Update: Salesforce.com Inc (NYSE:CRM) – Salesforce’s next big bet is making apps run ‘Lightning’-fast Company Update (NYSE:CRM): Salesforce Announces Salesforce App Cloud-A Unified Platform for Building Connected Apps, Fast Market Update (NYSE:CRM): Salesforce Launches Buy Button for Community Cloud, Transforming Every Community into a Place of Business