Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating reaffirmed by equities research analysts at Deutsche Bank AG in a research note issued to investors on Tuesday.
A number of other analysts have also commented on CRM. Citigroup Inc. reissued a “buy” rating on shares of Salesforce.com in a report on Wednesday, June 1st. Morgan Stanley reissued a “buy” rating on shares of Salesforce.com in a report on Tuesday, May 31st. BTIG Research reissued a “buy” rating and issued a $100.00 target price on shares of Salesforce.com in a report on Wednesday, June 1st. Vetr raised Salesforce.com from a “strong sell” rating to a “hold” rating and set a $82.92 price objective for the company in a report on Wednesday, June 1st. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Salesforce.com in a report on Thursday, June 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and forty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $92.63.
Salesforce.com (NYSE:CRM) opened at 70.19 on Tuesday. The company has a market capitalization of $48.08 billion, a price-to-earnings ratio of 216.64 and a beta of 1.57. Salesforce.com has a 52 week low of $52.60 and a 52 week high of $84.48. The firm has a 50-day moving average price of $76.57 and a 200-day moving average price of $77.87.
Salesforce.com (NYSE:CRM) last posted its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The business earned $2.04 billion during the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS. Analysts anticipate that Salesforce.com will post $0.95 EPS for the current fiscal year.
In other Salesforce.com news, insider Parker Harris sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $78.70, for a total value of $393,500.00. Following the transaction, the insider now directly owns 37,620 shares of the company’s stock, valued at approximately $2,960,694. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $78.16, for a total transaction of $1,954,000.00. Following the completion of the transaction, the chief executive officer now directly owns 35,383,000 shares in the company, valued at $2,765,535,280. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Signaturefd LLC raised its position in Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock worth $107,000 after buying an additional 693 shares during the period. M&R Capital Management Inc. purchased a new stake in shares of Salesforce.com during the second quarter worth about $119,000. Ropes Wealth Advisors LLC increased its stake in shares of Salesforce.com by 128.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider’s stock worth $143,000 after buying an additional 1,009 shares in the last quarter. Mycio Wealth Partners LLC increased its stake in shares of Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock worth $149,000 after buying an additional 44 shares in the last quarter. Finally, Trust Co. of Vermont increased its stake in shares of Salesforce.com by 123.8% in the second quarter. Trust Co. of Vermont now owns 1,936 shares of the CRM provider’s stock worth $154,000 after buying an additional 1,071 shares in the last quarter. 87.23% of the stock is currently owned by institutional investors and hedge funds.
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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