Salesforce.com Inc. (CRM) Stock Rating Reaffirmed by Wedbush
Salesforce.com Inc. (NYSE:CRM)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research report issued to clients and investors on Friday. They presently have a $96.00 price target on the CRM provider’s stock, down from their prior price target of $98.00. Wedbush’s price target points to a potential upside of 27.68% from the company’s current price.
A number of other research firms have also recently issued reports on CRM. Mizuho boosted their price objective on Salesforce.com from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets boosted their price objective on Salesforce.com from $86.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday. DA Davidson set a $86.00 price objective on Salesforce.com and gave the company a “hold” rating in a research report on Sunday, September 11th. FBN Securities set a $90.00 price objective on Salesforce.com and gave the company a “buy” rating in a research report on Sunday, September 4th. Finally, Raymond James Financial Inc. set a $105.00 price objective on Salesforce.com and gave the company a “buy” rating in a research report on Sunday, September 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $92.00.
Shares of Salesforce.com (NYSE:CRM) opened at 75.19 on Friday. The company has a market capitalization of $51.51 billion, a PE ratio of 232.07 and a beta of 1.55. The firm has a 50-day moving average price of $73.53 and a 200-day moving average price of $77.50. Salesforce.com has a 1-year low of $52.60 and a 1-year high of $84.48.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, November 17th. The CRM provider reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 EPS. Equities analysts anticipate that Salesforce.com will post $0.95 earnings per share for the current year.
In other news, Chairman Marc Benioff sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $79.95, for a total value of $999,375.00. Following the transaction, the chairman now owns 35,383,000 shares in the company, valued at approximately $2,828,870,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Cynthia G. Robbins sold 681 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $74.88, for a total value of $50,993.28. Following the completion of the transaction, the executive vice president now owns 2,666 shares in the company, valued at approximately $199,630.08. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in CRM. British Columbia Investment Management Corp increased its position in shares of Salesforce.com by 2.4% in the second quarter. British Columbia Investment Management Corp now owns 436,116 shares of the CRM provider’s stock worth $34,632,000 after buying an additional 10,098 shares during the last quarter. Raymond James Trust N.A. increased its position in Salesforce.com by 4.2% in the second quarter. Raymond James Trust N.A. now owns 9,297 shares of the CRM provider’s stock valued at $738,000 after buying an additional 374 shares during the last quarter. Osborn Rohs Williams & Donohoe Ltd purchased a new position in Salesforce.com during the second quarter valued at approximately $206,000. Cullinan Associates Inc. increased its position in Salesforce.com by 6.6% in the second quarter. Cullinan Associates Inc. now owns 25,690 shares of the CRM provider’s stock valued at $2,040,000 after buying an additional 1,600 shares during the last quarter. Finally, Integrated Investment Consultants LLC increased its position 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 valued at $225,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 86.97% of the company’s stock.
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.
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.