Other research analysts have also issued reports about the stock. SunTrust Banks Inc. restated a buy rating and issued a $98.00 price objective on shares of Salesforce.com in a report on Tuesday, June 14th. Goldman Sachs Group Inc. restated a buy rating on shares of Salesforce.com in a report on Monday, June 13th. Brean Capital restated a buy rating and issued a $110.00 price objective on shares of Salesforce.com in a report on Thursday, June 9th. Bank of America Corp. restated a buy rating on shares of Salesforce.com in a report on Wednesday, June 8th. Finally, Vetr lowered shares of Salesforce.com from a strong-buy rating to a buy rating and set a $83.58 price objective for the company. in a report on Monday, July 4th. Two investment 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 company. The stock currently has a consensus rating of Buy and a consensus target price of $92.56.
Salesforce.com (NYSE:CRM) opened at 70.91 on Wednesday. Salesforce.com has a 12-month low of $52.60 and a 12-month high of $84.48. The company’s 50-day moving average is $74.35 and its 200 day moving average is $77.70. The stock has a market capitalization of $48.57 billion, a PE ratio of 218.86 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results 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 analysts’ expectations of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 EPS. On average, equities research analysts expect that Salesforce.com will post $0.95 earnings per share for the current fiscal year.
In other news, insider Keith Block sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $82.68, for a total transaction of $826,800.00. Following the transaction, the insider now owns 10,000 shares in the company, valued at $826,800. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $847,000.00. Following the transaction, the chief executive officer now owns 35,033,000 shares in the company, valued at approximately $2,373,836,080. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Signaturefd LLC increased its position 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 period. M&R Capital Management Inc. acquired a new position in shares of Salesforce.com during the second quarter valued at $119,000. Ropes Wealth Advisors LLC increased its position 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 valued at $143,000 after buying an additional 1,009 shares during the period. Mycio Wealth Partners LLC increased its position 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 valued at $149,000 after buying an additional 44 shares during the period. Finally, Trust Co. of Vermont increased its position 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 valued at $154,000 after buying an additional 1,071 shares during the period. Hedge funds and other 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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