Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating reissued by equities researchers at JMP Securities in a research note issued to investors on Monday.
Several other analysts have also recently issued reports on the company. Canaccord Genuity restated a “buy” rating and set a $95.00 price objective on shares of Salesforce.com in a research note on Monday. Citigroup Inc. reaffirmed a “buy” rating and set a $89.00 target price on shares of Salesforce.com in a report on Saturday. SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Salesforce.com in a report on Thursday. Brean Capital reaffirmed a “buy” rating and set a $110.00 target price on shares of Salesforce.com in a report on Thursday. Finally, BNP Paribas reissued a “buy” rating and issued a $95.00 price objective on shares of Salesforce.com in a report on Thursday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-four have assigned a buy rating to the stock. Salesforce.com currently has an average rating of “Buy” and an average target price of $92.56.
Shares of Salesforce.com (NYSE:CRM) traded up 5.39% during trading on Monday, reaching $74.73. The company had a trading volume of 8,775,299 shares. Salesforce.com has a 12 month low of $52.60 and a 12 month high of $84.48. The stock has a market capitalization of $51.19 billion, a PE ratio of 230.65 and a beta of 1.59. The stock’s 50-day moving average price is $74.35 and its 200-day moving average price is $77.70.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Salesforce.com’s revenue for the quarter was up 25.0% compared to the same quarter last year. Equities analysts forecast that Salesforce.com will post $0.95 earnings per share for the current fiscal year.
In other news, CEO Marc Benioff sold 12,500 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $67.76, for a total transaction of $847,000.00. Following the transaction, the chief executive officer now directly owns 35,033,000 shares in the company, valued at approximately $2,373,836,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexandre Dayon sold 2,158 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $73.82, for a total transaction of $159,303.56. Following the completion of the transaction, the insider now owns 17,454 shares in the company, valued at approximately $1,288,454.28. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC raised 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 worth $107,000 after buying an additional 693 shares during the period. M&R Capital Management Inc. bought a new position in shares of Salesforce.com during the second quarter worth approximately $119,000. Ropes Wealth Advisors LLC raised its position 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 during the period. Mycio Wealth Partners LLC raised its position 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 during the period. Finally, Trust Co. of Vermont raised its position 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 during the period. 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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