Salesforce.com Inc. (CRM) Given a $96.00 Price Target at Goldman Sachs Group Inc.
A number of other brokerages have also recently commented on CRM. Morgan Stanley reduced their price target on Salesforce.com from $110.00 to $94.00 and set an overweight rating for the company in a research report on Monday, July 25th. Mizuho restated an outperform rating and issued a $100.00 price target on shares of Salesforce.com in a research report on Monday, August 15th. Piper Jaffray Cos. restated an overweight rating and issued a $100.00 price target on shares of Salesforce.com in a research report on Monday, August 15th. MKM Partners reiterated a buy rating and set a $96.00 target price on shares of Salesforce.com in a research report on Friday, August 5th. Finally, Stephens assumed coverage on Salesforce.com in a research report on Tuesday, August 2nd. They set an overweight rating for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and forty-two have given a buy rating to the stock. Salesforce.com has a consensus rating of Buy and a consensus target price of $92.05.
Salesforce.com (NYSE:CRM) traded down 1.68% during mid-day trading on Friday, reaching $76.46. The company had a trading volume of 2,607,902 shares. The company has a market capitalization of $52.79 billion, a PE ratio of 259.19 and a beta of 1.55. Salesforce.com has a 1-year low of $52.60 and a 1-year high of $84.48. The firm has a 50-day moving average of $73.72 and a 200 day moving average of $77.51.
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 analysts’ consensus estimates of $0.21 by $0.03. The business earned $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Salesforce.com had a return on equity of 2.40% and a net margin of 2.60%. The business’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 earnings per share. On average, analysts predict that Salesforce.com will post $0.95 earnings per share for the current fiscal year.
In other news, CFO Mark J. Hawkins sold 992 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $79.93, for a total value of $79,290.56. Following the sale, the chief financial officer now owns 9,281 shares in the company, valued at approximately $741,830.33. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 12,500 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $79.35, for a total transaction of $991,875.00. Following the completion of the sale, the chief executive officer now owns 35,383,000 shares in the company, valued at approximately $2,807,641,050. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the stock. Signaturefd LLC raised its stake in shares of 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. bought a new stake in shares of Salesforce.com during the second quarter worth about $119,000. NEXT Financial Group Inc raised its stake in shares of Salesforce.com by 2.3% in the third quarter. NEXT Financial Group Inc now owns 1,754 shares of the CRM provider’s stock worth $125,000 after buying an additional 39 shares during the period. Ropes Wealth Advisors LLC raised its stake in shares of Salesforce.com by 128.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider’s stock worth $143,000 after buying an additional 1,009 shares during the period. Finally, Mycio Wealth Partners LLC raised its stake in shares of Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock worth $149,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 87.22% 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.
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