Barclays PLC reaffirmed their overweight rating on shares of Salesforce.com Inc. (NYSE:CRM) in a research report sent to investors on Sunday morning. Barclays PLC currently has a $89.00 price target on the CRM provider’s stock.
Other research analysts have also recently issued reports about the stock. FBN Securities set a $90.00 price target on shares of Salesforce.com and gave the stock a buy rating in a report on Sunday, September 4th. Raymond James Financial Inc. set a $105.00 price target on shares of Salesforce.com and gave the stock a buy rating in a report on Sunday, September 4th. DA Davidson set a $86.00 price target on shares of Salesforce.com and gave the stock a hold rating in a report on Sunday, September 11th. Vetr cut shares of Salesforce.com from a buy rating to a hold rating and set a $83.58 target price on the stock. in a research note on Monday, July 11th. Finally, Brean Capital reiterated a buy rating and issued a $110.00 target price on shares of Salesforce.com in a research note on Thursday, June 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and forty-two have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $92.63.
Salesforce.com (NYSE:CRM) opened at 71.33 on Friday. Salesforce.com has a one year low of $52.60 and a one year high of $84.48. The stock’s 50 day moving average is $75.43 and its 200 day moving average is $77.76. The company has a market capitalization of $48.86 billion, a PE ratio of 220.15 and a beta of 1.57.
Salesforce.com (NYSE:CRM) last posted its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The company earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, analysts anticipate that Salesforce.com will post $0.95 earnings per share for the current fiscal year.
In related news, insider Parker Harris sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $78.70, for a total value of $393,500.00. Following the sale, the insider now owns 37,620 shares in the company, valued at $2,960,694. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Keith Block sold 10,000 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was 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 owns 10,000 shares in the company, valued at approximately $826,800. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in shares of Salesforce.com by 0.5% in the second quarter. Brighton Jones LLC now owns 4,270 shares of the CRM provider’s stock valued at $339,000 after buying an additional 22 shares in the last quarter. Hollencrest Securities LLC boosted its stake in shares of Salesforce.com by 0.9% in the second quarter. Hollencrest Securities LLC now owns 3,229 shares of the CRM provider’s stock valued at $256,000 after buying an additional 29 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of Salesforce.com by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,552 shares of the CRM provider’s stock valued at $282,000 after buying an additional 35 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Salesforce.com by 1.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock valued at $225,000 after buying an additional 37 shares in the last quarter. Finally, Fulton Bank N.A. boosted its stake in shares of Salesforce.com by 0.3% in the second quarter. Fulton Bank N.A. now owns 12,763 shares of the CRM provider’s stock valued at $1,014,000 after buying an additional 38 shares in the last quarter. Institutional investors own 87.23% of the company’s stock.
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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