salesforce.com (NYSE:CRM) Coverage Initiated by Analysts at Compass Point

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Compass Point assumed coverage on shares of salesforce.com (NYSE:CRM) in a research report released on Tuesday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $190.00 price objective on the CRM provider’s stock.

Other equities analysts have also issued research reports about the company. ValuEngine lowered salesforce.com from a buy rating to a hold rating in a research note on Thursday, August 1st. Jefferies Financial Group restated a buy rating and issued a $165.00 price target on shares of salesforce.com in a research note on Friday, August 9th. They noted that the move was a valuation call. Nomura cut their price target on salesforce.com from $184.00 to $180.00 and set a buy rating for the company in a research note on Wednesday, June 5th. Royal Bank of Canada restated a buy rating and issued a $181.00 price target on shares of salesforce.com in a research note on Monday, June 17th. Finally, Monness Crespi & Hardt restated a buy rating and issued a $200.00 price target (up previously from $195.00) on shares of salesforce.com in a research note on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the stock. salesforce.com presently has an average rating of Buy and an average price target of $180.00.

NYSE CRM opened at $143.88 on Tuesday. The company’s 50-day moving average is $152.88. The stock has a market cap of $111.26 billion, a price-to-earnings ratio of 99.23, a P/E/G ratio of 5.27 and a beta of 1.27. salesforce.com has a fifty-two week low of $113.60 and a fifty-two week high of $167.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.32. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The company’s revenue was up 24.3% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. Sell-side analysts expect that salesforce.com will post 1.25 earnings per share for the current year.

In other salesforce.com news, insider Parker Harris sold 620 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $143.64, for a total value of $89,056.80. Following the sale, the insider now owns 30,092 shares of the company’s stock, valued at $4,322,414.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $154.97, for a total value of $1,549,700.00. The disclosure for this sale can be found here. In the last three months, insiders sold 309,671 shares of company stock worth $47,578,569. 5.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CRM. National Pension Service increased its position in shares of salesforce.com by 6.7% during the second quarter. National Pension Service now owns 726,718 shares of the CRM provider’s stock worth $110,265,000 after acquiring an additional 45,581 shares during the period. Echo Street Capital Management LLC increased its position in shares of salesforce.com by 23.9% during the second quarter. Echo Street Capital Management LLC now owns 250,516 shares of the CRM provider’s stock worth $38,011,000 after acquiring an additional 48,252 shares during the period. Lido Advisors LLC increased its position in shares of salesforce.com by 22.5% during the second quarter. Lido Advisors LLC now owns 6,277 shares of the CRM provider’s stock worth $952,000 after acquiring an additional 1,154 shares during the period. Asset Management One Co. Ltd. increased its position in shares of salesforce.com by 10.0% during the second quarter. Asset Management One Co. Ltd. now owns 417,077 shares of the CRM provider’s stock worth $63,285,000 after acquiring an additional 37,904 shares during the period. Finally, Evercore Wealth Management LLC increased its position in shares of salesforce.com by 0.5% during the second quarter. Evercore Wealth Management LLC now owns 34,216 shares of the CRM provider’s stock worth $5,192,000 after acquiring an additional 178 shares during the period. 82.05% of the stock is currently owned by institutional investors.

About salesforce.com

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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