Market Update (NYSE:CRM): Salesforce puts meditation rooms on every floor after monks visit

[at American City Business Journals] – Salesforce CEO Marc Benioff has taken his passion for meditation to a whole other level: each floor of the new Salesforce towers that opened on Monday will have a meditation room, where are employees are encouraged to go meditate and be mindful. “This is really important to cultivating innovation in your company.” Benioff said he got the idea from the 30 Buddhist monks who he had staying with him recently, who visited Salesforce (CRM)’s offices and recommended a change. The space are key to Salesforce’s culture, Benioff said, and he believes they will be welcome reprieve for stressed employees. Read more on this. salesforce.com, inc. (CRM) , with a current market cap of $46.77B, opened at $69.79. Looking at the equity, the company’s one day range is $69.18 to $70.89 and has traded between $52.60 and $82.90 over the past 12 months. CRM shares are currently priced at 69.79x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.70x earnings multiple. Consensus earnings for the current quarter by the 41 sell-side analysts covering the stock is an estimate of $0.23 per share, which would be $0.07 better than the year-ago quarter and a $0.02 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $1.01, which would be a $0.26 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 $1.89 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. When considering if the stock is under or overvalued, the average price target is $88.30, which is 26.52% above where the stock opened this morning. See more in (NYSE:CRM) Similar Articles: Company Update: Salesforce.com Inc (NYSE:CRM) – Salesforce Announces General Availability of Salesforce Health Cloud — Building Patient Relationships, Not Records Company Update (NYSE:CRM): Puts hit Salesforce.com before earnings Market Update: Salesforce.com Inc (NYSE:CRM) – Salesforce Unveils the Next Wave of Salesforce Analytics Cloud–Delivering Actionable Insights Across the Customer Success Platform