Market Update (NYSE:CRM): Benioff to laid off IBM workers: Send Salesforce your resumes

[at American City Business Journals] – After news broke last week that IBM had started laying off as much of a third of its workforce as part of a restructuring, Marc Benioff stepped in and tweeted an open call to former IBMers to apply at Salesforce. On Friday, Benioff issued a series of tweets from his handle @benioff, asking unemployed workers to consider Salesforce (CRM) as they beginning hunting for new jobs: Marc Benioff ‎@Benioff: No one I know realized just how bad things are @ IBM. Read more on this. salesforce.com, inc. (CRM) , currently valued at $46.32B, started the session at $70.50. Looking at today’s trading action, the company’s one day range from $69.63 to $70.86 and has traded between $52.60 and $82.90 over the past year. CRM shares are currently priced at 70.36x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 20.42x forward p/e ratio. In a review of the consensus earnings estimate this quarter, 41 sell-side analysts are looking at $0.23 per share, which would be $0.07 better than the year-ago quarter and a $0.02 sequential increase. What we find to be interesting is that the full-year EPS estimate of $1.01 is a $0.26 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.89 Billion. If realized, that would be a 25.17% increase over the year-ago quarter. Recently, Macquarie Initiated CRM at Outperform (Mar 4, 2016). Previously, Credit Agricole upgraded CRM from Outperform to Buy. The average price target for CRM shares by the analysts covering the stock is $88.30, which is 25.25% above where the stock opened this morning. See more in (NYSE:CRM) Similar Articles: Stock Update: Salesforce.com Inc (NYSE:CRM) – Salesforce CEO Benioff: ‘We Will Win In Georgia’ Against ‘Religious Liberty’ Bill Company Update: Salesforce.com Inc (NYSE:CRM) – Salesforce Chairman and CEO Marc Benioff to Speak at White House Event Stock Update (NYSE:CRM): Salesforce Chairman and CEO Marc Benioff to Participate in the World Economic Forum Annual Meeting 2016