Salesforce.com Inc. (NYSE:CRM)‘s stock had its “overweight” rating reissued by research analysts at Barclays PLC in a research note issued on Sunday. They presently have a $89.00 price objective on the CRM provider’s stock. Barclays PLC’s price objective would indicate a potential upside of 19.32% from the company’s previous close.

Other analysts have also issued research reports about the stock. 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. 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. 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. Stephens assumed coverage on shares of Salesforce.com in a report on Tuesday, August 2nd. They set an “overweight” rating for the company. Finally, Vetr raised shares of Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 price objective for the company in a report on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and forty-five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $92.13.

Analyst Recommendations for Salesforce.com (NYSE:CRM)

Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The firm earned $2.04 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share.

In related news, Chairman Marc Benioff sold 37,500 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $73.80, for a total transaction of $2,767,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the transaction, the insider now directly owns 37,620 shares in the company, valued at $2,946,774.60. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cullinan Associates Inc. increased its stake in Salesforce.com by 6.6% in the second quarter. Cullinan Associates Inc. now owns 25,690 shares of the CRM provider’s stock worth $2,040,000 after buying an additional 1,600 shares during the period. Integrated Investment Consultants LLC increased its stake in Salesforce.com by 1.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock worth $225,000 after buying an additional 37 shares during the period. Boltwood Capital Management increased its stake in Salesforce.com by 6.7% in the second quarter. Boltwood Capital Management now owns 10,885 shares of the CRM provider’s stock worth $864,000 after buying an additional 685 shares during the period. Fulton Bank N.A. increased its stake in Salesforce.com by 0.3% in the second quarter. Fulton Bank N.A. now owns 12,763 shares of the CRM provider’s stock worth $1,014,000 after buying an additional 38 shares during the period. Finally, Iowa State Bank increased its stake in Salesforce.com by 2.7% in the second quarter. Iowa State Bank now owns 48,495 shares of the CRM provider’s stock worth $3,851,000 after buying an additional 1,295 shares during the period. 87.17% of the stock is currently owned by institutional investors.

About Salesforce.com

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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