Salesforce.com Inc. (NYSE:CRM)‘s stock had its “hold” rating reissued by stock analysts at Jefferies Group in a research note issued on Wednesday. They currently have a $80.00 price target on the CRM provider’s stock. Jefferies Group’s price target points to a potential upside of 16.92% from the stock’s previous close.
Several other equities research analysts have also recently commented on CRM. Bank of America Corp. reissued a “buy” rating on shares of Salesforce.com in a research note on Wednesday, June 8th. Brean Capital reissued a “buy” rating and issued a $110.00 price target on shares of Salesforce.com in a research note on Thursday, June 9th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Salesforce.com in a research note on Monday, June 13th. SunTrust Banks Inc. reissued a “buy” rating and issued a $98.00 price target on shares of Salesforce.com in a research note on Tuesday, June 14th. Finally, BMO Capital Markets started coverage on Salesforce.com in a research note on Tuesday, June 14th. They issued an “outperform” rating and a $98.00 price target for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $92.52.
Salesforce.com (NYSE:CRM) traded down 5.80% during mid-day trading on Wednesday, hitting $68.42. 48,128,138 shares of the stock were exchanged. The company has a 50-day moving average price of $74.94 and a 200-day moving average price of $77.82. The company has a market cap of $46.87 billion, a P/E ratio of 211.17 and a beta of 1.59. Salesforce.com has a one year low of $52.60 and a one year high of $84.48.
Salesforce.com (NYSE:CRM) last released its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share 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 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 business posted $0.19 EPS. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, analysts predict that Salesforce.com will post $0.95 earnings per share for the current fiscal year.
In other news, EVP Amy E. Weaver sold 9,381 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $71.08, for a total value of $666,801.48. Following the transaction, the executive vice president now directly owns 23,261 shares of the company’s stock, valued at approximately $1,653,391.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan Wojcicki acquired 1,356 shares of the company’s stock in a transaction dated Monday, September 19th. The stock was acquired at an average cost of $73.71 per share, for a total transaction of $99,950.76. Following the completion of the purchase, the director now directly owns 14,147 shares in the company, valued at $1,042,775.37. The disclosure for this purchase 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 stock. New England Research & Management Inc. acquired a new position in shares of Salesforce.com during the third quarter worth about $449,000. Boltwood Capital Management increased its position in shares of 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. increased its position in shares of 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. BNP Paribas Arbitrage SA increased its position in shares of 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. Finally, Cullinan Associates Inc. increased its position in shares of Salesforce.com by 0.4% in the third quarter. Cullinan Associates Inc. now owns 25,790 shares of the CRM provider’s stock worth $1,840,000 after buying an additional 100 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.
Receive News & Ratings for Salesforce.com Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce.com Inc. and related companies with MarketBeat.com's FREE daily email newsletter.