Salesforce.com Inc. (NYSE:CRM)‘s stock had its “outperform” rating reissued by equities researchers at Robert W. Baird in a research report issued to clients and investors on Wednesday. They currently have a $90.00 target price on the CRM provider’s stock. Robert W. Baird’s price target indicates a potential upside of 27.42% from the company’s current price.
A number of other equities analysts also recently issued reports on the stock. Bank of America Corp. reiterated a “buy” rating and set a $70.52 price objective (down from $100.00) on shares of Salesforce.com in a research note on Wednesday, October 5th. Vetr raised shares of Salesforce.com from a “hold” rating to a “buy” rating in a research report on Friday, September 23rd. Morgan Stanley decreased their target price on shares of Salesforce.com from $110.00 to $94.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. Piper Jaffray Cos. reissued an “overweight” rating and set a $100.00 target price on shares of Salesforce.com in a research report on Monday, August 15th. Finally, Mizuho increased their target price 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 equities research analysts have rated the stock with a sell rating, three have given a hold rating and forty-five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $92.51.
Shares of Salesforce.com (NYSE:CRM) opened at 70.63 on Wednesday. The company has a market cap of $48.38 billion, a P/E ratio of 217.99 and a beta of 1.59. Salesforce.com has a 12 month low of $52.60 and a 12 month high of $84.48. The stock’s 50 day moving average is $73.77 and its 200-day moving average is $77.67.
Salesforce.com (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (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 firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the firm earned $0.19 earnings per share. The company’s quarterly revenue was up 25.0% on a year-over-year basis. On average, equities analysts forecast that Salesforce.com will post $0.95 EPS for the current year.
In other Salesforce.com news, insider Keith Block sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $82.68, for a total transaction of $826,800.00. Following the sale, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $826,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig Conway sold 400 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $79.33, for a total transaction of $31,732.00. Following the sale, the director now directly owns 8,868 shares in the company, valued at $703,498.44. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in 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 in the last quarter. M&R Capital Management Inc. purchased a new stake in Salesforce.com during the second quarter valued at about $119,000. Ropes Wealth Advisors LLC boosted its stake in 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 in the last quarter. Mycio Wealth Partners LLC boosted its stake in 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 in the last quarter. Finally, Trust Co. of Vermont boosted its stake in 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 in the last quarter. 87.23% of the stock is currently owned by institutional investors.
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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