Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating reiterated by equities researchers at JMP Securities in a research report issued to clients and investors on Monday.

Other analysts also recently issued reports about the company. Vetr downgraded Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $83.58 price objective for the company. in a report on Monday, July 4th. Morgan Stanley restated a “buy” rating on shares of Salesforce.com in a report on Tuesday, June 28th. Credit Suisse Group AG restated a “buy” rating on shares of Salesforce.com in a report on Tuesday, June 28th. Brean Capital restated a “buy” rating and issued a $110.00 price objective on shares of Salesforce.com in a report on Saturday, June 25th. Finally, SunTrust Banks Inc. restated a “buy” rating and issued a $98.00 price objective on shares of Salesforce.com in a report on Tuesday, June 14th. Two equities research 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 stock. The company presently has a consensus rating of “Buy” and a consensus price target of $92.56.

Analyst Recommendations for Salesforce.com (NYSE:CRM)

Shares of Salesforce.com (NYSE:CRM) traded up 5.39% during midday trading on Monday, hitting $74.73. 8,775,299 shares of the stock were exchanged. The firm has a market cap of $51.19 billion, a PE ratio of 230.65 and a beta of 1.59. Salesforce.com has a 52-week low of $52.60 and a 52-week high of $84.48. The firm’s 50-day moving average is $74.35 and its 200 day moving average is $77.70.

Salesforce.com (NYSE:CRM) last released its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, topping the 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 business earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, analysts forecast that Salesforce.com will post $0.95 earnings per share for the current year.

In other news, Director Craig Conway sold 400 shares of the firm’s 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 directly owns 9,268 shares of the company’s stock, valued at approximately $758,678.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $67.76, for a total value of $847,000.00. Following the completion of the sale, the chief executive officer now directly owns 35,033,000 shares of the company’s stock, valued at $2,373,836,080. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the stock. Rafferty Asset Management LLC boosted its position in shares of Salesforce.com by 1.6% in the first quarter. Rafferty Asset Management LLC now owns 18,536 shares of the CRM provider’s stock valued at $1,369,000 after buying an additional 300 shares in the last quarter. Gardner Lewis Asset Management L P boosted its position in shares of Salesforce.com by 1.1% in the first quarter. Gardner Lewis Asset Management L P now owns 112,386 shares of the CRM provider’s stock valued at $8,297,000 after buying an additional 1,222 shares in the last quarter. Covington Investment Advisors Inc. boosted its position in shares of Salesforce.com by 1.6% in the first quarter. Covington Investment Advisors Inc. now owns 43,930 shares of the CRM provider’s stock valued at $3,243,000 after buying an additional 685 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Salesforce.com by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,417 shares of the CRM provider’s stock valued at $3,723,000 after buying an additional 9,572 shares in the last quarter. Finally, Bernicke & Associates LTD boosted its position in shares of Salesforce.com by 8.5% in the first quarter. Bernicke & Associates LTD now owns 9,695 shares of the CRM provider’s stock valued at $716,000 after buying an additional 763 shares in the last quarter. 87.23% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:CRM

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