Other equities research analysts also recently issued reports about the company. DA Davidson set a $86.00 price target on Salesforce.com and gave the stock a hold rating in a report on Sunday, September 11th. FBN Securities set a $90.00 price target on Salesforce.com and gave the stock a buy rating in a report on Sunday, September 4th. Raymond James Financial Inc. set a $105.00 price target on Salesforce.com and gave the stock a buy rating in a 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. decreased 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 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 has an average rating of Buy and an average target price of $92.56.
Shares of Salesforce.com (NYSE:CRM) opened at 75.10 on Thursday. Salesforce.com has a 52 week low of $52.60 and a 52 week high of $84.48. The firm has a market cap of $51.44 billion, a PE ratio of 231.79 and a beta of 1.59. The firm’s 50-day moving average is $74.28 and its 200 day moving average is $77.80.
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. Equities research analysts forecast that Salesforce.com will post $0.95 EPS for the current year.
In other Salesforce.com news, CFO Mark J. Hawkins sold 8,624 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $81.80, for a total value of $705,443.20. Following the transaction, the chief financial officer now directly owns 16,029 shares of the company’s stock, valued at approximately $1,311,172.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Marc Benioff sold 12,500 shares of the company’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $70.96, for a total value of $887,000.00. Following the completion of the transaction, the chairman now directly owns 35,033,000 shares in the company, valued at $2,485,941,680. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC raised 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 last quarter. M&R Capital Management Inc. purchased a new position in shares of Salesforce.com during the second quarter valued at $119,000. Ropes Wealth Advisors LLC raised 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 last quarter. Mycio Wealth Partners LLC raised 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 last quarter. Finally, Trust Co. of Vermont raised 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 last quarter. 87.23% of the stock is currently owned by institutional investors.
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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