Salesforce.com Inc. (NYSE:CRM)‘s stock had its “outperform” rating reissued by stock analysts at Cowen and Company in a research report issued to clients and investors on Wednesday. They presently have a $100.00 price objective on the CRM provider’s stock. Cowen and Company’s price objective points to a potential upside of 41.58% from the stock’s current price.
Several other analysts have also recently commented on the company. Bank of America Corp. restated a “buy” rating and issued a $70.52 target price (down from $100.00) on shares of Salesforce.com in a research report on Wednesday, October 5th. Vetr upgraded Salesforce.com from a “hold” rating to a “buy” rating in a research report on Friday, September 23rd. Morgan Stanley lowered their target price on Salesforce.com from $110.00 to $94.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. Piper Jaffray Cos. restated an “overweight” rating and issued a $100.00 target price on shares of Salesforce.com in a research report on Monday, August 15th. Finally, Mizuho raised their target price on Salesforce.com from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-five have assigned a buy rating to the company’s stock. Salesforce.com currently has an average rating of “Buy” and a consensus price target of $92.51.
Salesforce.com (NYSE:CRM) opened at 70.63 on Wednesday. Salesforce.com has a 12-month low of $52.60 and a 12-month high of $84.48. The stock has a 50 day moving average price of $73.77 and a 200-day moving average price of $77.67. The firm has a market capitalization of $48.38 billion, a PE ratio of 217.99 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, topping analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. On average, equities research 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 that occurred 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 completion of the transaction, 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 the SEC website. Also, Director Susan Wojcicki acquired 1,356 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was bought at an average cost of $73.71 per share, with a total value of $99,950.76. Following the purchase, the director now owns 14,147 shares in the company, valued at $1,042,775.37. The disclosure for this purchase can be found here. Company insiders own 6.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of CRM. 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 last quarter. M&R Capital Management Inc. bought a new position in shares of Salesforce.com during the second quarter valued at approximately $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 last quarter. 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 last quarter. 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 last quarter. 87.23% of the stock is 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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