Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating reaffirmed by research analysts at Brean Capital in a research note issued to investors on Thursday. They presently have a $110.00 price objective on the CRM provider’s stock. Brean Capital’s target price suggests a potential upside of 60.77% from the company’s current price.
Several other research analysts have also recently commented on the stock. Bank of America Corp. restated a “buy” rating on shares of Salesforce.com in a research report on Wednesday, June 8th. Morgan Stanley decreased 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. Cowen and Company assumed coverage on shares of Salesforce.com in a research report on Friday, June 24th. They issued an “outperform” rating and a $79.39 target price for the company. Goldman Sachs Group Inc. restated a “buy” rating on shares of Salesforce.com in a research report on Monday, June 13th. Finally, Jefferies Group restated a “hold” rating and issued a $80.00 target price on shares of Salesforce.com in a research report on Tuesday, July 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $92.56.
Shares of Salesforce.com (NYSE:CRM) traded up 4.15% on Thursday, hitting $71.26. The company had a trading volume of 17,995,133 shares. The company has a 50-day moving average of $74.66 and a 200 day moving average of $77.76. The stock has a market cap of $48.81 billion, a PE ratio of 219.94 and a beta of 1.59. Salesforce.com has a 12 month low of $52.60 and a 12 month high of $84.48.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The business earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the firm earned $0.19 EPS. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. Analysts anticipate that Salesforce.com will post $0.95 EPS for the current fiscal year.
In related news, CEO Marc Benioff sold 12,500 shares of the company’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $67.76, for a total value of $847,000.00. Following the transaction, the chief executive officer now directly owns 35,033,000 shares in the company, valued at $2,373,836,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $81.92, for a total transaction of $409,600.00. Following the completion of the transaction, the insider now owns 37,620 shares in the company, valued at $3,081,830.40. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its position 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 during the period. M&R Capital Management Inc. acquired a new position in Salesforce.com during the second quarter valued at approximately $119,000. Ropes Wealth Advisors LLC increased 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 increased 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 increased 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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