Salesforce.com’s (CRM) Buy Rating Reaffirmed at Deutsche Bank AG
A number of other analysts have also recently commented on CRM. Vetr raised shares of Salesforce.com from a strong sell rating to a hold rating and set a $82.92 target price for the company in a report on Wednesday, June 1st. Morgan Stanley reaffirmed an overweight rating and set a $107.00 target price on shares of Salesforce.com in a report on Monday. DA Davidson reaffirmed a neutral rating and set a $86.00 target price on shares of Salesforce.com in a report on Wednesday, August 31st. Royal Bank Of Canada reduced their target price on shares of Salesforce.com from $91.00 to $85.00 and set an outperform rating for the company in a report on Thursday, September 1st. Finally, BMO Capital Markets started coverage on shares of Salesforce.com in a report on Tuesday, June 14th. They set an outperform rating and a $98.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and forty-two have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $92.63.
Salesforce.com (NYSE:CRM) traded up 0.9639% on Tuesday, reaching $70.7252. 1,774,999 shares of the company were exchanged. The firm has a 50-day moving average of $76.25 and a 200 day moving average of $77.86. 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 $48.45 billion, a P/E ratio of 218.2876 and a beta of 1.57.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 earnings per share. On average, equities analysts predict that Salesforce.com will post $0.95 earnings per share for the current year.
In other Salesforce.com news, Director Craig Conway sold 400 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $81.86, for a total value of $32,744.00. Following the transaction, the director now owns 9,268 shares of the company’s stock, valued at $758,678.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence Tomlinson sold 1,600 shares of the company’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $79.41, for a total transaction of $127,056.00. Following the completion of the transaction, the director now directly owns 30,229 shares in the company, valued at approximately $2,400,484.89. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in Salesforce.com by 0.5% in the second quarter. Brighton Jones LLC now owns 4,270 shares of the CRM provider’s stock worth $339,000 after buying an additional 22 shares during the last quarter. Hollencrest Securities LLC boosted its stake in shares of Salesforce.com by 0.9% in the second quarter. Hollencrest Securities LLC now owns 3,229 shares of the CRM provider’s stock valued at $256,000 after buying an additional 29 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of Salesforce.com by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,552 shares of the CRM provider’s stock valued at $282,000 after buying an additional 35 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Salesforce.com by 1.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock valued at $225,000 after buying an additional 37 shares in the last quarter. Finally, Fulton Bank N.A. boosted its stake in shares of Salesforce.com by 0.3% in the second quarter. Fulton Bank N.A. now owns 12,763 shares of the CRM provider’s stock valued at $1,014,000 after buying an additional 38 shares in the last quarter. 87.23% of the stock is currently owned by institutional investors.
Salesforce.com Company Profile
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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