Salesforce.com Inc. (CRM) Stock Rating Reaffirmed by Wunderlich
Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating reiterated by equities research analysts at Wunderlich in a research note issued on Wednesday. They currently have a $101.00 target price on the CRM provider’s stock. Wunderlich’s target price suggests a potential upside of 41.73% from the stock’s current price.
A number of other research analysts have also recently weighed in on the company. Bank of America Corp. reaffirmed a “buy” rating and set a $70.52 price objective (down from $100.00) on shares of Salesforce.com in a research report on Wednesday. Vetr raised Salesforce.com from a “hold” rating to a “buy” rating in a research note on Friday, September 23rd. Morgan Stanley decreased their target price on Salesforce.com from $110.00 to $94.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. Piper Jaffray Cos. reissued an “overweight” rating and set a $100.00 target price on shares of Salesforce.com in a research note on Monday, August 15th. Finally, Mizuho lifted their target price on Salesforce.com from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and forty-four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $92.56.
Shares of Salesforce.com (NYSE:CRM) opened at 71.26 on Wednesday. The firm has a 50-day moving average price of $74.52 and a 200 day moving average price of $77.71. Salesforce.com has a 52 week low of $52.60 and a 52 week high of $84.48. The stock has a market cap of $48.81 billion, a price-to-earnings ratio of 219.94 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last posted 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. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the firm earned $0.19 EPS. The business’s quarterly revenue was up 25.0% on a year-over-year basis. On average, analysts forecast that Salesforce.com will post $0.95 EPS for the current fiscal year.
In related news, Director Craig Conway sold 400 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $81.86, for a total value of $32,744.00. Following the completion of the sale, the director now owns 9,268 shares of the company’s stock, valued at $758,678.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Keith Block sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $82.68, for a total value of $826,800.00. Following the sale, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $826,800. The disclosure for this sale can be found here. 6.70% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the company. Signaturefd LLC boosted its stake in Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock valued at $107,000 after buying an additional 693 shares during the period. M&R Capital Management Inc. acquired a new stake in Salesforce.com during the second quarter valued at about $119,000. Ropes Wealth Advisors LLC boosted its stake in Salesforce.com by 128.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider’s stock valued at $143,000 after buying an additional 1,009 shares during the period. Mycio Wealth Partners LLC boosted its stake in Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock valued at $149,000 after buying an additional 44 shares during the period. Finally, Trust Co. of Vermont boosted its stake in Salesforce.com by 123.8% in the second quarter. Trust Co. of Vermont now owns 1,936 shares of the CRM provider’s stock valued at $154,000 after buying an additional 1,071 shares during the period. 87.23% of the stock is 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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