Salesforce.com Inc. (CRM) Stock Rating Reaffirmed by JMP Securities
Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating reaffirmed by stock analysts at JMP Securities in a research note issued on Friday.
Several other research firms have also recently weighed in on CRM. Morgan Stanley reissued an “overweight” rating and issued a $107.00 target price on shares of Salesforce.com in a research note on Monday, September 26th. DA Davidson reissued a “neutral” rating and issued a $86.00 target price on shares of Salesforce.com in a research note on Wednesday, August 31st. Royal Bank Of Canada cut their price target on Salesforce.com from $91.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, September 1st. Wedbush reaffirmed an “outperform” rating and set a $96.00 price target (down previously from $98.00) on shares of Salesforce.com in a report on Thursday, September 1st. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $85.00 price target (down previously from $91.00) on shares of Salesforce.com in a report on Thursday, September 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and forty-two have assigned a buy rating to the company’s stock. Salesforce.com presently has an average rating of “Buy” and an average target price of $92.05.
Shares of Salesforce.com (NYSE:CRM) opened at 76.15 on Friday. The company has a market cap of $52.58 billion, a price-to-earnings ratio of 258.14 and a beta of 1.55. The firm has a 50-day moving average of $73.85 and a 200 day moving average of $77.57. Salesforce.com has a one year low of $52.60 and a one year high of $84.48.
Salesforce.com (NYSE:CRM) last released its earnings results on Thursday, November 17th. The CRM provider reported $0.24 earnings per share for the quarter, beating the 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 earned $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period last year, the business earned $0.21 earnings per share. The firm’s revenue was up 25.3% on a year-over-year basis. Equities research analysts anticipate that Salesforce.com will post $0.95 EPS for the current year.
In other news, Director Susan Wojcicki acquired 1,356 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were bought at an average cost of $73.71 per share, with a total value of $99,950.76. Following the acquisition, the director now owns 14,147 shares in the company, valued at approximately $1,042,775.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexandre Dayon sold 2,158 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $73.82, for a total value of $159,303.56. Following the transaction, the insider now directly owns 17,454 shares in the company, valued at $1,288,454.28. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC boosted its position 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 position in shares of Salesforce.com during the second quarter worth approximately $119,000. NEXT Financial Group Inc boosted its position 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 boosted its position 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 boosted its position 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. 87.22% of the stock is currently owned by institutional investors.
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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