Salesforce.com Inc. (CRM) Stock Rating Reaffirmed by Morgan Stanley
Salesforce.com Inc. (NYSE:CRM)‘s stock had its “overweight” rating reissued by equities research analysts at Morgan Stanley in a note issued to investors on Monday. They presently have a $107.00 target price on the CRM provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 52.75% from the stock’s current price.
A number of other equities research analysts have also recently commented on the stock. Vetr upgraded shares of Salesforce.com from a “hold” rating to a “buy” rating in a report on Friday, September 23rd. DA Davidson set a $86.00 price target on shares of Salesforce.com and gave the stock a “hold” rating in a report on Sunday, September 11th. Raymond James Financial Inc. set a $105.00 price target on shares of Salesforce.com and gave the stock a “buy” rating in a report on Sunday, September 4th. FBN Securities set a $90.00 price target on shares of Salesforce.com and gave the stock a “buy” rating in a report on Sunday, September 4th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $93.00 price target on shares of Salesforce.com in a report on Saturday, September 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and forty-two have assigned a buy rating to the company. Salesforce.com presently has an average rating of “Buy” and a consensus price target of $92.63.
Shares of Salesforce.com (NYSE:CRM) opened at 70.05 on Monday. The company has a market capitalization of $47.98 billion, a PE ratio of 216.20 and a beta of 1.57. Salesforce.com has a one year low of $52.60 and a one year high of $84.48. The stock has a 50 day moving average of $76.25 and a 200-day moving average of $77.86.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The business earned $2.04 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period last year, the company posted $0.19 earnings per share. On average, equities analysts forecast that Salesforce.com will post $0.95 earnings per share for the current fiscal year.
In other news, Director Craig Conway sold 400 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $81.86, for a total transaction of $32,744.00. Following the sale, the director now owns 9,268 shares of the company’s stock, valued at approximately $758,678.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Marc Benioff sold 12,500 shares of the stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $70.13, for a total transaction of $876,625.00. Following the completion of the transaction, the chairman now owns 35,033,000 shares in the company, valued at approximately $2,456,864,290. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
Several institutional investors have recently modified their holdings of CRM. Soroban Capital Partners LP acquired a new position in shares of Salesforce.com during the first quarter valued at $290,380,000. Vanguard Group Inc. boosted its position in shares of 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. American Century Companies Inc. boosted its position in shares of Salesforce.com by 54.4% in the second quarter. American Century Companies Inc. now owns 3,297,549 shares of the CRM provider’s stock valued at $261,858,000 after buying an additional 1,161,596 shares during the period. Waddell & Reed Financial Inc. boosted its position in shares of Salesforce.com by 489.5% in the second quarter. Waddell & Reed Financial Inc. now owns 1,384,048 shares of the CRM provider’s stock valued at $109,908,000 after buying an additional 1,149,275 shares during the period. Finally, Tybourne Capital Management HK Ltd. acquired a new position in shares of Salesforce.com during the first quarter valued at $72,518,000. Hedge funds and other institutional investors own 87.23% 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.
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