Salesforce.com Inc. (NYSE:CRM)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research report issued to clients and investors on Wednesday. They presently have a $96.00 price objective on the CRM provider’s stock. Wedbush’s target price would suggest a potential upside of 32.18% from the company’s previous close.
Several other equities research analysts have also issued reports on the company. SunTrust Banks Inc. reissued a “buy” rating and set a $98.00 price objective on shares of Salesforce.com in a research note on Tuesday, June 14th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Salesforce.com in a research report on Monday, June 13th. Brean Capital restated a “buy” rating and set a $110.00 price target on shares of Salesforce.com in a research report on Thursday, June 9th. Bank of America Corp. restated a “buy” rating on shares of Salesforce.com in a research report on Wednesday, June 8th. Finally, Vetr downgraded Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $83.58 price objective on the stock. in a report on Monday, July 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-three have assigned a buy rating to the stock. Salesforce.com has an average rating of “Buy” and an average price target of $92.49.
Salesforce.com (NYSE:CRM) opened at 72.63 on Wednesday. Salesforce.com has a one year low of $52.60 and a one year high of $84.48. The stock has a 50 day moving average price of $74.94 and a 200-day moving average price of $77.82. The firm has a market cap of $49.75 billion, a P/E ratio of 224.17 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, beating the 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 business earned $2.04 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the company earned $0.19 earnings per share. Salesforce.com’s revenue was up 25.0% compared to the same quarter last year. Analysts predict that Salesforce.com will post $0.95 EPS for the current fiscal year.
In other news, insider Parker Harris sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $81.92, for a total value of $409,600.00. Following the sale, the insider now directly owns 37,620 shares of the company’s stock, valued at approximately $3,081,830.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Keith Block sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $82.68, for a total transaction of $826,800.00. Following the completion of the sale, the insider now directly owns 10,000 shares in the company, valued at $826,800. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased 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 worth $107,000 after buying an additional 693 shares during the period. M&R Capital Management Inc. acquired a new stake in shares of Salesforce.com during the second quarter valued at $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 valued at $143,000 after buying an additional 1,009 shares during 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 valued at $149,000 after buying an additional 44 shares during 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 valued at $154,000 after buying an additional 1,071 shares during the last quarter. 87.23% of the stock is currently 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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