Salesforce.com Inc. (NYSE:CRM)‘s stock had its “outperform” rating reaffirmed by Cowen and Company in a research report issued to clients and investors on Monday. They presently have a $100.00 price target on the CRM provider’s stock. Cowen and Company’s price objective suggests a potential upside of 42.26% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. SunTrust Banks Inc. reiterated a “buy” rating and set a $98.00 price target on shares of Salesforce.com in a report on Tuesday, June 14th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Salesforce.com in a report on Monday, June 13th. Brean Capital reiterated a “buy” rating and set a $110.00 price target on shares of Salesforce.com in a report on Thursday, June 9th. Bank of America Corp. reiterated a “buy” rating on shares of Salesforce.com in a report on Wednesday, June 8th. Finally, Vetr lowered shares of Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $83.58 price target for the company. in a report on Monday, July 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and forty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $92.63.
Salesforce.com (NYSE:CRM) traded down 1.23% on Monday, hitting $70.45. 3,434,915 shares of the company’s stock were exchanged. The stock has a market cap of $48.26 billion, a P/E ratio of 217.44 and a beta of 1.59. 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 $75.43 and a 200-day moving average price of $77.76.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The company earned $2.04 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the business posted $0.19 EPS. The firm’s revenue was up 25.0% compared to the same quarter last year. Analysts predict that Salesforce.com will post $0.95 earnings per share for the current fiscal year.
In other news, Chairman Marc Benioff sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $71.53, for a total transaction of $1,788,250.00. Following the completion of the transaction, the chairman now directly owns 35,033,000 shares of the company’s stock, valued at approximately $2,505,910,490. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Parker Harris sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was 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 $2,960,694. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC increased its position in shares of Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock valued at $107,000 after buying an additional 693 shares during the last quarter. M&R Capital Management Inc. purchased a new stake in shares of Salesforce.com during the second quarter valued at approximately $119,000. Ropes Wealth Advisors LLC boosted 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 valued at $143,000 after buying an additional 1,009 shares during the last quarter. Mycio Wealth Partners LLC boosted 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 valued at $149,000 after buying an additional 44 shares during the last quarter. Finally, Trust Co. of Vermont boosted 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 valued at $154,000 after buying an additional 1,071 shares during the last quarter. 87.23% of the stock is owned by institutional investors and hedge funds.
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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