Company Update (NYSE:CRM): Salesforce to keep conference in Atlanta, boost investment after Deal’s veto

[at American City Business Journals] – Georgia Governor Nathan Deal sent Salesforce a “chill pill” in the form of his decision to veto the religious liberty bill. The San Francisco-based software firm (CRM) previously threatened to reduce investments in Georgia and move a major conference that attracts thousands out of Atlanta if the bill became law. “Salesforce applauds Governor Deal’s decision to veto HB 757,” it said. Read more on this. salesforce.com, inc. (CRM) , valued at $48.27B, opened this morning at $72.39. Looking at today’s market, CRM one day range is $71.41 to $72.68 and has traded between $52.60 and $82.90 over the past 12 months. CRM shares are currently priced at 71.72x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 17.40x earnings multiple for the same period. In a review of the consensus earnings estimate this quarter, 39 sell-side analysts are looking at $0.23 per share, which would be $0.07 better than the year-ago quarter and a $0.02 sequential increase. The full-year EPS estimate is $1.01 which would be a $0.26 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.89 Billion. If reported, 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. Investors should keep in mind is that the average price target is $87.98, which is 21.54% above where the stock opened this morning. See more in (NYSE:CRM) Similar Articles: Market Update: Salesforce.com Inc (NYSE:CRM) – Salesforce Grants Equity Awards Under Its Inducement Equity Incentive Plan Company Update: Salesforce.com Inc (NYSE:CRM) – Salesforce Announces General Availability of Salesforce Health Cloud — Building Patient Relationships, Not Records Company Update (NYSE:CRM): Salesforce is in talks for a $600 million acquisition, its biggest deal in more than two years