JPMorgan Chase & Co. reaffirmed their overweight rating on shares of Salesforce.com Inc. (NYSE:CRM) in a report released on Wednesday. The firm currently has a $95.00 target price on the CRM provider’s stock.
A number of other equities research analysts have also issued reports on the company. Bank of America Corp. reissued a buy rating and issued a $70.52 target price (down previously from $100.00) on shares of Salesforce.com in a research report on Wednesday, October 5th. Vetr raised Salesforce.com from a hold rating to a buy rating in a research report on Friday, September 23rd. Morgan Stanley cut their target price on 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. reiterated 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 boosted their price target on Salesforce.com from $85.00 to $100.00 and gave the stock a buy rating in a report on Thursday, September 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-five have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $92.23.
Salesforce.com (NYSE:CRM) opened at 72.83 on Wednesday. The firm has a market cap of $49.89 billion, a P/E ratio of 224.78 and a beta of 1.59. The company has a 50-day moving average price of $73.40 and a 200-day moving average price of $77.74. Salesforce.com has a 12-month low of $52.60 and a 12-month high of $84.48.
Salesforce.com (NYSE:CRM) last released its quarterly earnings data 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 business 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. Salesforce.com’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 year.
In related news, Chairman Marc Benioff sold 12,500 shares of the stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $73.10, for a total value of $913,750.00. Following the sale, the chairman now directly owns 34,946,450 shares of the company’s stock, valued at approximately $2,554,585,495. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexandre Dayon sold 2,158 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $73.82, for a total transaction of $159,303.56. Following the completion of the sale, the insider now directly owns 17,454 shares in the company, valued at $1,288,454.28. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Signaturefd LLC raised 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. purchased a new stake in Salesforce.com during the second quarter worth $119,000. Ropes Wealth Advisors LLC raised 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 worth $143,000 after buying an additional 1,009 shares during the period. Mycio Wealth Partners LLC raised 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 worth $149,000 after buying an additional 44 shares during the period. Finally, Trust Co. of Vermont raised 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 worth $154,000 after buying an additional 1,071 shares during the period. 87.03% 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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