Stock Update (NYSE:CRM): Salesforce Announces New Renewable Energy Agreement

[PR Newswire] – SAN FRANCISCO, Jan. 14, 2016 /PRNewswire/ — Salesforce (CRM), the Customer Success Platform and world’s #1 CRM company, today announced it is doubling down on its renewable energy commitments by signing a second energy agreement, this time for 24 megawatts (MW) of a new wind farm in Texas. The electricity generated under the 12-year virtual power purchase agreement (VPPA) is expected to be 102,000 megawatt hours annually. This energy agreement comes on the heels of the company’s first VPPA for 40 MW of a new wind farm in West Virginia that is expected to generate 125,000 megawatt hours of wind energy annually. Read more on this. salesforce.com, inc. (CRM) , with a current value of $48.53B, started the session at $72.42. A quick look at the market, the company’s stock traded between $70.87 and $73.60 with a trailing 52-week range being $54.95 to $82.90. Priced at 96.47x this year’s forecasted earnings, CRM shares are relatively expensive compared to the industry’s 13.42x forward p/e ratio. In a review of the consensus earnings estimate this quarter, 41 sell-side analysts are looking at $0.19 per share, which 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 predicated on a consensus revenue forecast of $1.79 Billion. If reported, that would be a 24.31% increase over the year-ago quarter. More recently, Wedbush upgraded CRM from Neutral to Outperform (Dec 18, 2015). Previously, Pivotal Research Group upgraded CRM from Hold to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $90.00, which is 24.28% above where the stock opened this morning. See more in (NYSE:CRM) Similar Articles: Market Update: Salesforce.com Inc (NYSE:CRM) – Salesforce Unveils the Next Wave of Salesforce Analytics Cloud–Delivering Actionable Insights Across the Customer Success Platform Company Update (NYSE:CRM): Salesforce Announces Salesforce App Cloud-A Unified Platform for Building Connected Apps, Fast Stock Update: Salesforce.com Inc (NYSE:CRM) – Salesforce Introduces Salesforce Financial Services Cloud: Transforming the Client-Advisor Relationship