These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CRM’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Salesforce.com could be a solid choice for investors.
Current Quarter Estimates for CRM
In the past 30 days, 5 estimates have gone higher for Salesforce.com with no lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 2 cents a share 30 days ago, to a loss of a penny a share today, a move of 50.0%.
Current Year Estimates for CRM
Meanwhile, Salesforce.com’s current year figures are also looking quite promising, with 5 estimates moving higher in the past month, compared to 4 lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 7 cents per share 30 days ago to a loss of 5 cents per share today, an increase of 28.6%.
Bottom Line
The stock has also started to move higher lately, adding 9.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
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