Citigroup Inc. reissued their buy rating on shares of Salesforce.com Inc. (NYSE:CRM) in a research note issued to investors on Saturday morning. Citigroup Inc. currently has a $89.00 target price on the CRM provider’s stock.
A number of other research analysts have also recently weighed in on the stock. Bank of America Corp. reaffirmed a buy rating and set a $70.52 price target (down from $100.00) on shares of Salesforce.com in a research report on Wednesday. Vetr raised shares of Salesforce.com from a hold rating to a buy rating in a research report on Friday, September 23rd. Morgan Stanley reduced their price target on shares of Salesforce.com from $110.00 to $94.00 and set an overweight rating on the stock in a research report on Monday, July 25th. Piper Jaffray Cos. reaffirmed an overweight rating and set a $100.00 price target on shares of Salesforce.com in a research report on Monday, August 15th. Finally, Mizuho lifted their price target on shares of Salesforce.com from $85.00 to $100.00 and gave the company a buy rating in a research report on Thursday, September 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-four have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $92.56.
Salesforce.com (NYSE:CRM) opened at 70.91 on Friday. Salesforce.com has a 52-week low of $52.60 and a 52-week high of $84.48. The company has a 50 day moving average of $74.35 and a 200-day moving average of $77.70. The stock has a market capitalization of $48.57 billion, a P/E ratio of 218.86 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 for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. Salesforce.com’s revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. Equities research analysts anticipate that Salesforce.com will post $0.95 EPS for the current year.
In related news, insider Keith Block sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $81.00, for a total value of $1,620,000.00. Following the transaction, the insider now owns 20,000 shares in the company, valued at $1,620,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 12,500 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $81.57, for a total value of $1,019,625.00. Following the completion of the transaction, the chief executive officer now owns 35,383,000 shares in the company, valued at approximately $2,886,191,310. The disclosure for this sale can be found here. 6.70% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in Salesforce.com by 0.5% in the second quarter. Brighton Jones LLC now owns 4,270 shares of the CRM provider’s stock valued at $339,000 after buying an additional 22 shares in the last quarter. Hollencrest Securities LLC boosted its position in Salesforce.com by 0.9% in the second quarter. Hollencrest Securities LLC now owns 3,229 shares of the CRM provider’s stock valued at $256,000 after buying an additional 29 shares in the last quarter. Cornerstone Advisors Inc. boosted its position in Salesforce.com by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,552 shares of the CRM provider’s stock valued at $282,000 after buying an additional 35 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in Salesforce.com by 1.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock valued at $225,000 after buying an additional 37 shares in the last quarter. Finally, Fulton Bank N.A. boosted its position in Salesforce.com by 0.3% in the second quarter. Fulton Bank N.A. now owns 12,763 shares of the CRM provider’s stock valued at $1,014,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds 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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