JPMorgan Chase & Co. reaffirmed their overweight rating on shares of Salesforce.com Inc. (NYSE:CRM) in a research report sent to investors on Wednesday. They currently have a $95.00 price target on the CRM provider’s stock.
A number of other equities research analysts have also recently weighed in on CRM. Bank of America Corp. reaffirmed a buy rating and set a $77.82 price target (down from $100.00) on shares of Salesforce.com in a report on Thursday, August 25th. 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. Jefferies Group reaffirmed a hold rating and set a $80.00 price target on shares of Salesforce.com in a report on Tuesday, July 12th. Piper Jaffray Cos. reaffirmed a buy rating and set a $100.00 price target on shares of Salesforce.com in a 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 report on Monday, October 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and forty-five have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $92.51.
Shares of Salesforce.com (NYSE:CRM) opened at 74.27 on Wednesday. Salesforce.com has a 12 month low of $52.60 and a 12 month high of $84.48. The firm has a market capitalization of $50.87 billion, a price-to-earnings ratio of 229.23 and a beta of 1.59. The stock’s 50 day moving average price is $73.60 and its 200-day moving average price is $77.68.
Salesforce.com (NYSE:CRM) last issued its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The business earned $2.04 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the firm posted $0.19 EPS. Salesforce.com’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, equities research analysts predict that Salesforce.com will post $0.95 EPS for the current fiscal year.
In related news, insider Parker Harris sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $81.39, for a total value of $406,950.00. Following the sale, the insider now owns 37,620 shares in the company, valued at approximately $3,061,891.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan Wojcicki bought 1,356 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was acquired at an average price of $73.71 per share, for a total transaction of $99,950.76. Following the acquisition, the director now directly owns 14,147 shares in the company, valued at $1,042,775.37. The disclosure for this purchase can be found here. Insiders own 6.70% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Salesforce.com by 3.1% in the second quarter. Vanguard Group Inc. now owns 39,426,135 shares of the CRM provider’s stock valued at $3,130,829,000 after buying an additional 1,181,756 shares during the period. Jennison Associates LLC raised its stake in Salesforce.com by 0.9% in the second quarter. Jennison Associates LLC now owns 20,109,339 shares of the CRM provider’s stock valued at $1,596,883,000 after buying an additional 183,663 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in 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 valued at $1,301,857,000 after buying an additional 127,481 shares during the period. Ameriprise Financial Inc. raised its stake in Salesforce.com by 4.5% in the second quarter. Ameriprise Financial Inc. now owns 8,227,065 shares of the CRM provider’s stock valued at $653,308,000 after buying an additional 353,274 shares during the period. Finally, Baillie Gifford & Co. raised its stake in Salesforce.com by 0.7% in the second quarter. Baillie Gifford & Co. now owns 6,981,936 shares of the CRM provider’s stock valued at $554,435,000 after buying an additional 47,955 shares during the period. Institutional investors own 87.03% of the company’s stock.
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.
Receive News & Ratings for Salesforce.com Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce.com Inc. and related companies with MarketBeat.com's FREE daily email newsletter.