Market Update: Salesforce.com Inc (NYSE:CRM) – Salesforce.com Leads Software Stocks’ Harmony Up; Even Tableau Hums

[at Investor’s Business Daily] – The morning bell became music to the ears of software stock investors Thursday as Wall Street used Salesforce.com’s Q4 strength and outlook to harmonize. Salesforce.com (CRM), an enterprise cloud pioneer … Read more on this. salesforce.com, inc. (CRM) , currently valued at $45.50B, started trading this morning at $70.50. Looking at the stock, its one day range is $67.14 to $70.80 and has traded between $52.60 and $82.90 over the past 12 months. CRM shares are currently priced at 63.15x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 8.39x earnings multiple. According to a consensus of 35 analysts, the earnings estimate of $0.21 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 $0.99, which would be a $0.24 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 $1.86 Billion. If realized, that would be a 23.18% increase over the year-ago quarter. Recently, Credit Agricole upgraded CRM from Outperform to Buy (Feb 10, 2016). Previously, Jefferies upgraded CRM from Underperform to Hold. The average price target for CRM shares by the analysts covering it is $88.04, which is 24.88% above where the stock opened. See more in (NYSE:CRM) Similar Articles: Stock Update (NYSE:CRM): Salesforce.com (CRM) Stock Falls Further on Tableau Software’s Soft Guidance, Jim Cramer’s Take Stock Update: Salesforce.com Inc (NYSE:CRM) – Salesforce.com (CRM) Stock Pressured by Tableau Software’s Forecast, Jim Cramer’s View Market Update: Salesforce.com Inc (NYSE:CRM) – Scanning Application Software Equities — Oracle, salesforce.com, Mobileye, and FireEye