Several other equities research analysts also recently weighed in on the company. Vetr raised Salesforce.com from a hold rating to a buy rating in a report on Friday, September 23rd. Morgan Stanley reduced their price target on Salesforce.com from $110.00 to $94.00 and set an overweight rating on the stock in a research report 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 report on Monday, August 15th. Mizuho boosted their price target on 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 reissued an outperform rating and set a $98.00 price target (up from $96.00) on shares of Salesforce.com in a research report on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and forty-three have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $92.33.
Shares of Salesforce.com (NYSE:CRM) traded down 7.27% during mid-day trading on Tuesday, reaching $67.35. 17,319,832 shares of the company’s stock traded hands. The firm has a market cap of $46.13 billion, a price-to-earnings ratio of 207.87 and a beta of 1.59. Salesforce.com has a one year low of $52.60 and a one year high of $84.48. The firm’s 50-day moving average is $74.94 and its 200 day moving average is $77.82.
Salesforce.com (NYSE:CRM) last posted 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. The business earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 earnings per share. Analysts predict that Salesforce.com will post $0.95 earnings per share for the current year.
In related news, Director Susan Wojcicki purchased 1,356 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was bought at an average price of $73.71 per share, for a total transaction of $99,950.76. Following the purchase, the director now directly owns 14,147 shares in the company, valued at approximately $1,042,775.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $81.92, for a total transaction of $409,600.00. Following the sale, the insider now owns 37,620 shares of the company’s stock, valued at approximately $3,081,830.40. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
Large investors have recently modified their holdings of the company. Signaturefd LLC raised its stake in shares of 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 during the last quarter. M&R Capital Management Inc. acquired a new position in Salesforce.com during the second quarter worth $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 worth $143,000 after buying an additional 1,009 shares in the last quarter. 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 worth $149,000 after buying an additional 44 shares in the last quarter. 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 worth $154,000 after buying an additional 1,071 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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