Salesforce.com Inc. (NYSE:CRM) had its price target decreased by DA Davidson from $86.00 to $80.00 in a research note published on Tuesday. DA Davidson currently has a neutral rating on the CRM provider’s stock.
CRM has been the topic of several other research reports. Bank of America Corp. reissued a buy rating and issued a $77.82 price objective (down previously from $100.00) on shares of Salesforce.com in a research note on Thursday, August 25th. Jefferies Group reaffirmed a hold rating and set a $80.00 price target on shares of Salesforce.com in a research report on Tuesday, July 12th. Citigroup Inc. cut their price target on shares of Salesforce.com from $97.00 to $94.00 and set a buy rating on the stock in a research report on Wednesday, July 20th. Piper Jaffray Cos. reaffirmed a buy rating and set a $100.00 price target on shares of Salesforce.com in a research report on Thursday, September 1st. Finally, Cowen and Company reaffirmed an outperform rating and set a $100.00 price target on shares of Salesforce.com in a research report on Monday, October 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-four have given a buy rating to the company’s stock. Salesforce.com presently has a consensus rating of Buy and an average price target of $92.56.
Salesforce.com (NYSE:CRM) opened at 70.91 on Tuesday. The company has a market cap of $48.57 billion, a PE ratio of 218.86 and a beta of 1.59. The stock has a 50 day moving average price of $74.35 and a 200 day moving average price of $77.70. Salesforce.com has a one year low of $52.60 and a one year high of $84.48.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings data 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. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Salesforce.com’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, equities analysts anticipate that Salesforce.com will post $0.95 EPS for the current fiscal year.
In other Salesforce.com news, CEO Marc Benioff sold 12,500 shares of the firm’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $67.76, for a total value of $847,000.00. Following the sale, the chief executive officer now owns 35,033,000 shares of the company’s stock, valued at approximately $2,373,836,080. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Keith Block sold 10,000 shares of the firm’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 directly 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 corporate insiders.
Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Salesforce.com by 3.1% in the second quarter. Vanguard Group Inc. now owns 39,426,135 shares of the CRM provider’s stock worth $3,130,829,000 after buying an additional 1,181,756 shares during the period. Jennison Associates LLC raised its stake in shares of Salesforce.com by 0.9% in the second quarter. Jennison Associates LLC now owns 20,109,339 shares of the CRM provider’s stock worth $1,596,883,000 after buying an additional 183,663 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Salesforce.com by 0.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 16,394,124 shares of the CRM provider’s stock worth $1,301,857,000 after buying an additional 127,481 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Salesforce.com by 4.5% in the second quarter. Ameriprise Financial Inc. now owns 8,227,065 shares of the CRM provider’s stock worth $653,308,000 after buying an additional 353,274 shares during the period. Finally, Baillie Gifford & Co. raised its stake in shares of Salesforce.com by 0.7% in the second quarter. Baillie Gifford & Co. now owns 6,981,936 shares of the CRM provider’s stock worth $554,435,000 after buying an additional 47,955 shares during the period. 87.23% of the stock is currently owned by institutional investors and hedge funds.
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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