Salesforce.com’s (CRM) “Buy” Rating Reaffirmed at SunTrust Banks Inc.
A number of other equities research analysts have also weighed in on the stock. Brean Capital reiterated a buy rating and set a $110.00 price objective on shares of Salesforce.com in a report on Thursday. BNP Paribas reissued a buy rating and set a $95.00 target price on shares of Salesforce.com in a research report on Thursday. Deutsche Bank AG reissued a buy rating and set a $90.00 target price on shares of Salesforce.com in a research report on Wednesday. Credit Agricole SA reissued a buy rating and set a $101.00 target price on shares of Salesforce.com in a research report on Wednesday. Finally, Wunderlich reissued a buy rating and set a $101.00 target price on shares of Salesforce.com in a research report on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-four have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $92.56.
Shares of Salesforce.com (NYSE:CRM) traded down 0.1872% on Thursday, hitting $71.1266. 5,228,579 shares of the stock traded hands. The stock’s 50 day moving average price is $74.52 and its 200 day moving average price is $77.71. The stock has a market cap of $48.72 billion, a P/E ratio of 219.5266 and a beta of 1.59. Salesforce.com has a 52-week low of $52.60 and a 52-week high of $84.48.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The company earned $2.04 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the business posted $0.19 EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, equities analysts expect that Salesforce.com will post $0.95 EPS for the current fiscal year.
In other Salesforce.com news, insider Alexandre Dayon sold 2,158 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $73.82, for a total value of $159,303.56. Following the completion of the sale, the insider now owns 17,454 shares of the company’s stock, valued at $1,288,454.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Craig Conway sold 400 shares of the firm’s stock in a transaction on Friday, July 15th. The shares were 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 directly owns 9,268 shares of the company’s stock, valued at approximately $758,678.48. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased 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 worth $107,000 after buying an additional 693 shares during the period. M&R Capital Management Inc. purchased a new position in Salesforce.com during the second quarter valued at about $119,000. Ropes Wealth Advisors LLC increased its position 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 increased its position 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 increased its position 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, 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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