Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating restated by stock analysts at BNP Paribas in a research report issued to clients and investors on Thursday. They currently have a $95.00 price target on the CRM provider’s stock. BNP Paribas’ price objective indicates a potential upside of 38.85% from the company’s previous close.
A number of other equities research analysts have also issued reports on the stock. Bank of America Corp. reissued a “buy” rating and issued a $70.52 price target (down previously from $100.00) on shares of Salesforce.com in a report on Wednesday. Vetr raised shares of Salesforce.com from a “hold” rating to a “buy” rating in a research note on Friday, September 23rd. Morgan Stanley cut their target price on shares of Salesforce.com from $110.00 to $94.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $100.00 target price on shares of Salesforce.com in a research note on Monday, August 15th. Finally, Mizuho lifted their target price on shares of Salesforce.com from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and forty-four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $92.56.
Shares of Salesforce.com (NYSE:CRM) opened at 68.42 on Thursday. Salesforce.com has a 1-year low of $52.60 and a 1-year high of $84.48. The firm has a 50-day moving average of $74.66 and a 200 day moving average of $77.76. The stock has a market cap of $46.87 billion, a price-to-earnings ratio of 211.17 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The company’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 EPS. Equities research analysts forecast that Salesforce.com will post $0.95 earnings per share for the current year.
In related news, CEO Marc Benioff sold 50,000 shares of Salesforce.com stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $79.15, for a total value of $3,957,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,383,000 shares in the company, valued at approximately $2,800,564,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan Wojcicki bought 1,356 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was bought at an average price of $73.71 per share, with a total value of $99,950.76. Following the completion of the purchase, the director now directly owns 14,147 shares in the company, valued at $1,042,775.37. The disclosure for this purchase can be found here. 6.70% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. New England Research & Management Inc. bought a new stake in Salesforce.com during the third quarter worth approximately $449,000. Boltwood Capital Management boosted its stake in Salesforce.com by 4.2% in the third quarter. Boltwood Capital Management now owns 11,345 shares of the CRM provider’s stock worth $809,000 after buying an additional 460 shares during the period. Fulton Bank N.A. boosted its stake in Salesforce.com by 44.0% in the third quarter. Fulton Bank N.A. now owns 18,383 shares of the CRM provider’s stock worth $1,311,000 after buying an additional 5,620 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Salesforce.com by 4.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,330,380 shares of the CRM provider’s stock worth $237,556,000 after buying an additional 139,700 shares during the period. Finally, Cullinan Associates Inc. boosted its stake in Salesforce.com by 0.4% in the third quarter. Cullinan Associates Inc. now owns 25,790 shares of the CRM provider’s stock worth $1,840,000 after buying an additional 100 shares during the period. Institutional investors own 87.23% of the company’s stock.
Salesforce.com Company Profile
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
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