Stock Update: Salesforce.com Inc (NYSE:CRM) – Brexit Spoils Software M&A Lift: Salesforce, Adobe, Workday Fall

[at Investor’s Business Daily] – The Brexit market plunge cooled off software stocks on Friday, with Salesforce.com (CRM), Adobe Systems (ADBE), Workday (WDAY) and ServiceNow (NOW) falling as worries over the U.K. and European economies … Read more on this. salesforce.com, inc. (CRM) , valued at $53.16B, began trading this morning at $79.41. During today’s session, CRM traded between $78.33 to $80.51 with a one year range of $52.60 to $84.48. CRM shares are currently priced at 86.61x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 2.21x earnings multiple for the same period. According to a consensus of 21 analysts, the earnings estimate of $0.22 per share would be $0.03 better than the year-ago quarter and a $0.03 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $0.95 is a $0.20 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.02 Billion. If reported, that would be a 23.93% increase over the year-ago quarter. More recently, BMO Capital Markets Initiated CRM at Outperform (Jun 15, 2016). Previously, Macquarie Initiated CRM at to Outperform. When considering if perhaps the stock is under or overvalued, the average price target is $97.16, which is 22.35% above where the stock opened this morning. See more in (NYSE:CRM) Similar Articles: Company Update: Salesforce.com Inc (NYSE:CRM) – Salesforce Started At Buy On E-Commerce; Workday Gets Neutral Rating Company Update (NYSE:CRM): What Is Salesforce’s Value Proposition in the Software Space? Stock Update: Salesforce.com Inc (NYSE:CRM) – Salesforce.com (CRM) Stock Pressured by Tableau Software’s Forecast, Jim Cramer’s View