Nomura reaffirmed their buy rating on shares of salesforce.com (NYSE:CRM) in a research report released on Tuesday morning, AnalystRatings.com reports. They currently have a $180.00 target price on the CRM provider’s stock.
“We see a lot of noise that must be sorted through this quarter, following the CRM.org, DATA, and, more recently, ClickSoftware acquisitions, as well as multiple FY guidance revisions. We see difficult comps in both F2Q and F3Q, as we expect Y/Y revenue growth of approx. 20% versus 27.5% Y/Y growth in F3Q19, after closing the MULE acquisition. F3Q20 estimates are somewhat in line with historical expectations, with slightly above Q/Q growth of ~6% vs. the historical average of 4.6%. We continue to highlight the uncertain impact of the moving pieces created via recent acquisitions and proposed acquisitions (such as ClickSoftware).”,” Nomura’s analyst commented.
A number of other research firms have also recently commented on CRM. OTR Global cut shares of salesforce.com to a positive rating in a research report on Wednesday, May 15th. SunTrust Banks lifted their price objective on shares of salesforce.com to $189.00 and gave the stock a buy rating in a research report on Tuesday, June 11th. Jefferies Financial Group reaffirmed a buy rating and set a $165.00 price objective on shares of salesforce.com in a research report on Friday, August 9th. They noted that the move was a valuation call. Wedbush reissued an outperform rating and issued a $192.00 target price on shares of salesforce.com in a research report on Friday, May 31st. Finally, Royal Bank of Canada reissued a buy rating and issued a $181.00 target price on shares of salesforce.com in a research report on Monday, June 17th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $180.00.
salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.32. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. Research analysts expect that salesforce.com will post 1.25 EPS for the current fiscal year.
In other salesforce.com news, insider Mark J. Hawkins sold 15,271 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $157.31, for a total transaction of $2,402,281.01. Following the transaction, the insider now directly owns 24,375 shares in the company, valued at approximately $3,834,431.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Amy E. Weaver sold 501 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $153.54, for a total value of $76,923.54. Following the transaction, the general counsel now owns 26,396 shares in the company, valued at $4,052,841.84. The disclosure for this sale can be found here. Insiders sold 309,671 shares of company stock valued at $47,578,569 in the last ninety days. 5.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avondale Wealth Management grew its stake in shares of salesforce.com by 100.0% during the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock worth $25,000 after acquiring an additional 80 shares during the period. Massey Quick Simon & CO. LLC bought a new position in salesforce.com in the 2nd quarter worth about $26,000. Citizens Financial Group Inc RI bought a new position in salesforce.com in the 1st quarter worth about $27,000. Arcadia Investment Management Corp MI boosted its stake in salesforce.com by 63.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 68 shares during the period. Finally, Avestar Capital LLC boosted its stake in salesforce.com by 108.7% in the 1st quarter. Avestar Capital LLC now owns 192 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 100 shares during the period. 82.05% of the stock is owned by institutional investors and hedge funds.
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
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