Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating reiterated by Wunderlich in a research report issued to clients and investors on Wednesday. They currently have a $101.00 target price on the CRM provider’s stock. Wunderlich’s price target points to a potential upside of 41.73% from the stock’s previous close.
CRM has been the topic of several other research reports. Bank of America Corp. reissued a “buy” rating and set a $70.52 price target (down previously from $100.00) on shares of Salesforce.com in a research note on Wednesday. Vetr raised Salesforce.com from a “hold” rating to a “buy” rating in a research note on Friday, September 23rd. Morgan Stanley decreased their price target on Salesforce.com from $110.00 to $94.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. Piper Jaffray Cos. reissued an “overweight” rating and set a $100.00 price target on shares of Salesforce.com in a research note on Monday, August 15th. Finally, Mizuho boosted their price target on Salesforce.com from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-four have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $92.56.
Shares of Salesforce.com (NYSE:CRM) opened at 71.26 on Wednesday. The firm’s 50-day moving average price is $74.52 and its 200 day moving average price is $77.71. Salesforce.com has a 1-year low of $52.60 and a 1-year high of $84.48. The firm has a market cap of $48.81 billion, a PE ratio of 219.94 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last released its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm posted $0.19 EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. On average, equities research analysts forecast that Salesforce.com will post $0.95 EPS for the current fiscal year.
In related news, COO Keith Block sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $81.57, for a total value of $815,700.00. Following the completion of the transaction, the chief operating officer now owns 10,000 shares of the company’s stock, valued at approximately $815,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Marc Benioff sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $71.17, for a total transaction of $889,625.00. Following the completion of the transaction, the chairman now directly owns 35,033,000 shares of the company’s stock, valued at approximately $2,493,298,610. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the company. Triangle Securities Wealth Management purchased a new position in Salesforce.com during the third quarter worth approximately $843,000. New England Research & Management Inc. purchased a new position in Salesforce.com during the third quarter worth approximately $449,000. Boltwood Capital Management raised its position in Salesforce.com by 4.2% in the third quarter. Boltwood Capital Management now owns 11,345 shares of the CRM provider’s stock worth $809,000 after buying an additional 460 shares in the last quarter. Fulton Bank N.A. raised its position in Salesforce.com by 44.0% in the third quarter. Fulton Bank N.A. now owns 18,383 shares of the CRM provider’s stock worth $1,311,000 after buying an additional 5,620 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Salesforce.com by 4.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,330,380 shares of the CRM provider’s stock worth $237,556,000 after buying an additional 139,700 shares in the last quarter. 87.23% of the stock is owned by hedge funds and other 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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