Salesforce.com Inc. (CRM) PT Raised to $95.00
Salesforce.com Inc. (NYSE:CRM) had its target price boosted by Mizuho from $85.00 to $95.00 in a research note issued on Friday. The brokerage currently has a “buy” rating on the CRM provider’s stock. Mizuho’s price target would suggest a potential upside of 24.75% from the stock’s current price.
Several other equities analysts have also recently weighed in on the stock. Bank of America Corp. reaffirmed a “buy” rating and issued a $70.52 price target (down previously from $100.00) on shares of Salesforce.com in a research report on Wednesday, October 5th. Vetr raised shares of Salesforce.com from a “hold” rating to a “buy” rating in a research report on Friday, September 23rd. Morgan Stanley dropped their target price on shares of Salesforce.com from $110.00 to $94.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. Piper Jaffray Cos. reissued an “overweight” rating and set a $100.00 target price on shares of Salesforce.com in a research report on Monday, August 15th. Finally, Wedbush reissued an “outperform” rating and set a $98.00 target price (up previously from $96.00) on shares of Salesforce.com in a research report on Friday, August 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and forty-two have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $92.05.
Shares of Salesforce.com (NYSE:CRM) opened at 76.15 on Friday. The company has a 50 day moving average price of $73.85 and a 200 day moving average price of $77.57. Salesforce.com has a 52 week low of $52.60 and a 52 week high of $84.48. The company has a market capitalization of $52.58 billion, a PE ratio of 258.14 and a beta of 1.55.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Thursday, November 17th. The CRM provider reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. Salesforce.com had a net margin of 2.60% and a return on equity of 2.40%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter last year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. On average, equities research analysts expect that Salesforce.com will post $0.95 earnings per share for the current year.
In related news, Director Susan Wojcicki bought 1,356 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was bought at an average cost of $73.71 per share, with a total value of $99,950.76. Following the completion of the purchase, the director now owns 14,147 shares of the company’s stock, valued at approximately $1,042,775.37. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Cynthia G. Robbins sold 681 shares of the firm’s stock in a transaction on Monday, October 24th. The shares were sold at an average price of $74.88, for a total transaction of $50,993.28. Following the transaction, the executive vice president now directly owns 2,666 shares of the company’s stock, valued at $199,630.08. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the stock. ETRADE Capital Management LLC boosted its position in Salesforce.com by 20.8% in the third quarter. ETRADE Capital Management LLC now owns 6,565 shares of the CRM provider’s stock valued at $468,000 after buying an additional 1,131 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Salesforce.com during the third quarter valued at $9,398,000. Marvin & Palmer Associates Inc. boosted its position in Salesforce.com by 90.8% in the third quarter. Marvin & Palmer Associates Inc. now owns 56,660 shares of the CRM provider’s stock valued at $4,042,000 after buying an additional 26,960 shares during the last quarter. LPL Financial LLC boosted its position in Salesforce.com by 6.2% in the third quarter. LPL Financial LLC now owns 26,626 shares of the CRM provider’s stock valued at $1,934,000 after buying an additional 1,554 shares during the last quarter. Finally, Peloton Wealth Strategists bought a new position in Salesforce.com during the third quarter valued at $2,040,000. 87.22% of the stock is owned by institutional investors.
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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