Salesforce.com Inc. (CRM) Rating Reiterated by Canaccord Genuity
Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating restated by analysts at Canaccord Genuity in a research note issued on Monday. They presently have a $95.00 target price on the CRM provider’s stock. Canaccord Genuity’s price objective suggests a potential upside of 33.97% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Raymond James Financial Inc. set a $105.00 price objective 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 objective on shares of Salesforce.com and gave the stock a “buy” rating in a report on Sunday, September 4th. DA Davidson set a $86.00 price objective on shares of Salesforce.com and gave the stock a “hold” rating in a report on Sunday, September 11th. Vetr lowered shares of Salesforce.com from a “buy” rating to a “hold” rating and set a $83.58 price objective on the stock. in a report on Monday, July 11th. Finally, Stephens assumed coverage on shares of Salesforce.com in a report on Tuesday, August 2nd. They issued an “overweight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $92.56.
Shares of Salesforce.com (NYSE:CRM) opened at 70.91 on Monday. Salesforce.com has a 52 week low of $52.60 and a 52 week high of $84.48. The firm has a market capitalization of $48.57 billion, a P/E ratio of 218.86 and a beta of 1.59. The firm has a 50-day moving average of $74.35 and a 200 day moving average of $77.70.
Salesforce.com (NYSE:CRM) last posted its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. Salesforce.com’s revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS. On average, equities research analysts expect that Salesforce.com will post $0.95 EPS for the current fiscal year.
In related news, Chairman Marc Benioff sold 12,500 shares of the company’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $70.96, for a total value of $887,000.00. Following the completion of the sale, the chairman now owns 35,033,000 shares of the company’s stock, valued at $2,485,941,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark J. Hawkins sold 8,624 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $81.80, for a total transaction of $705,443.20. Following the completion of the sale, the chief financial officer now directly owns 16,029 shares of the company’s stock, valued at approximately $1,311,172.20. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Ngam Advisors L.P. increased its stake in Salesforce.com by 37.2% in the first quarter. Ngam Advisors L.P. now owns 29,442 shares of the CRM provider’s stock valued at $2,174,000 after buying an additional 7,986 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Salesforce.com during the first quarter valued at $3,993,000. Bessemer Group Inc. increased its stake in Salesforce.com by 65.3% in the first quarter. Bessemer Group Inc. now owns 5,997 shares of the CRM provider’s stock valued at $442,000 after buying an additional 2,370 shares during the last quarter. A.R. Schmeidler & Co. Inc. increased its stake in Salesforce.com by 125.2% in the first quarter. A.R. Schmeidler & Co. Inc. now owns 99,181 shares of the CRM provider’s stock valued at $7,323,000 after buying an additional 55,143 shares during the last quarter. Finally, AMF Pensionsforsakring AB increased its stake in Salesforce.com by 488.5% in the first quarter. AMF Pensionsforsakring AB now owns 602,629 shares of the CRM provider’s stock valued at $44,492,000 after buying an additional 500,229 shares during the last quarter. 87.23% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Stock Ratings for Salesforce.com Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce.com Inc. and related stocks with our FREE daily email newsletter.