Several other research analysts have also recently weighed in on the stock. Vetr raised shares of Salesforce.com from a hold rating to a buy rating in a report on Friday, September 23rd. Morgan Stanley cut their target price on shares of 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 issued a $100.00 target price on shares of Salesforce.com in a research report on Monday, August 15th. Mizuho upped their target price on shares of Salesforce.com from $85.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, September 1st. Finally, Wedbush reiterated an outperform rating and issued a $98.00 target price (up from $96.00) on shares of Salesforce.com in a research report on Friday, August 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and forty-two have given a buy rating to the company’s stock. Salesforce.com has an average rating of Buy and a consensus target price of $92.63.
Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share.
In other news, insider Parker Harris sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $78.70, for a total value of $393,500.00. Following the completion of the sale, the insider now owns 37,620 shares in the company, valued at approximately $2,960,694. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 50,000 shares of the business’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $79.15, for a total transaction of $3,957,500.00. Following the completion of the sale, the chief executive officer now owns 35,383,000 shares of the company’s stock, valued at approximately $2,800,564,450. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. 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 valued at $107,000 after buying an additional 693 shares in the last quarter. M&R Capital Management Inc. purchased a new position in Salesforce.com during the second quarter valued at approximately $119,000. Ropes Wealth Advisors LLC raised its position 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 valued at $143,000 after buying an additional 1,009 shares during the period. Mycio Wealth Partners LLC raised its position 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 valued at $149,000 after buying an additional 44 shares during the period. Finally, Trust Co. of Vermont raised its position 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 valued at $154,000 after buying an additional 1,071 shares during the period. Institutional investors and hedge funds own 87.23% of the company’s stock.
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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