Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a research report issued on Wednesday. They currently have a $100.00 price objective on the CRM provider’s stock. BTIG Research’s target price would suggest a potential upside of 40.33% from the company’s current price.
Several other equities analysts also recently commented on CRM. DA Davidson set a $86.00 target price on Salesforce.com and gave the stock a “hold” rating in a research report on Sunday, September 11th. FBN Securities set a $90.00 target price on Salesforce.com and gave the stock a “buy” rating in a research report on Sunday, September 4th. Raymond James Financial Inc. set a $105.00 target price on Salesforce.com and gave the stock a “buy” rating in a research report on Sunday, September 4th. Morgan Stanley reaffirmed a “buy” rating on shares of Salesforce.com in a report on Tuesday, June 28th. Finally, Citigroup Inc. dropped their price target on Salesforce.com from $97.00 to $94.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and forty-four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $92.56.
Shares of Salesforce.com (NYSE:CRM) opened at 71.26 on Wednesday. Salesforce.com has a one year low of $52.60 and a one year high of $84.48. The stock has a market capitalization of $48.81 billion, a P/E ratio of 219.94 and a beta of 1.59. The stock’s 50 day moving average price is $74.52 and its 200 day moving average price is $77.71.
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 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%. Salesforce.com’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the company earned $0.19 EPS. On average, analysts forecast that Salesforce.com will post $0.95 EPS for the current year.
In related news, CEO Marc Benioff sold 12,500 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $81.57, for a total value of $1,019,625.00. Following the completion of the sale, the chief executive officer now directly owns 35,383,000 shares in the company, valued at $2,886,191,310. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amy E. Weaver sold 9,381 shares of the stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $71.08, for a total value of $666,801.48. Following the completion of the sale, the executive vice president now owns 23,261 shares of the company’s stock, valued at $1,653,391.88. The disclosure for this sale can be found here. 6.70% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of CRM. Signaturefd LLC increased 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 last quarter. M&R Capital Management Inc. acquired a new stake in shares of Salesforce.com during the second quarter worth $119,000. Ropes Wealth Advisors LLC increased its stake in shares of 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 last quarter. Mycio Wealth Partners LLC increased its stake in shares of 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 last quarter. Finally, Trust Co. of Vermont increased its stake in shares of 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 last quarter. Institutional investors and hedge funds 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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