Salesforce.com Inc. (CRM) Receives Average Rating of “Buy” from Brokerages
Salesforce.com Inc. (NYSE:CRM) has been assigned an average rating of “Buy” from the forty-six ratings firms that are presently covering the firm. Two research analysts have rated the stock with a sell rating, two have given a hold rating and forty-two have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $92.01.
Several brokerages have recently issued reports on CRM. Mizuho restated an “outperform” rating and set a $100.00 price target on shares of Salesforce.com in a research note on Monday, August 15th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $100.00 price objective on shares of Salesforce.com in a research note on Monday, August 15th. MKM Partners reiterated a “buy” rating and issued a $96.00 price objective on shares of Salesforce.com in a research note on Friday, August 5th. Stephens started coverage on shares of Salesforce.com in a research note on Tuesday, August 2nd. They issued an “overweight” rating for the company. Finally, Vetr upgraded shares of Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 price objective for the company in a research note on Wednesday, August 10th.
Shares of Salesforce.com (NYSE:CRM) opened at 72.93 on Friday. Salesforce.com has a 1-year low of $52.60 and a 1-year high of $84.48. The company has a market capitalization of $50.81 billion, a PE ratio of 247.22 and a beta of 1.55. The firm’s 50-day moving average price is $74.32 and its 200 day moving average price is $77.55.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, November 17th. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping 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 company earned $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter last year, the business posted $0.21 EPS. Salesforce.com’s quarterly revenue was up 25.3% compared to the same quarter last year. Equities analysts predict that Salesforce.com will post $0.98 EPS for the current fiscal year.
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In other news, CAO Joe Allanson sold 657 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $74.12, for a total value of $48,696.84. Following the completion of the sale, the chief accounting officer now owns 30,587 shares in the company, valued at approximately $2,267,108.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark J. Hawkins sold 992 shares of the firm’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $73.03, for a total transaction of $72,445.76. Following the completion of the sale, the chief financial officer now owns 11,898 shares of the company’s stock, valued at approximately $868,910.94. 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 added to or reduced their stakes in the company. Cullen Frost Bankers Inc. raised its stake in Salesforce.com by 1.3% in the second quarter. Cullen Frost Bankers Inc. now owns 206,019 shares of the CRM provider’s stock valued at $16,360,000 after buying an additional 2,648 shares during the period. Bank of Montreal Can purchased a new stake in Salesforce.com during the second quarter valued at about $31,592,000. Mizuho Trust & Banking Co. Ltd. raised its stake in Salesforce.com by 1.0% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,009,351 shares of the CRM provider’s stock valued at $80,153,000 after buying an additional 10,367 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in Salesforce.com by 17.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,096,940 shares of the CRM provider’s stock valued at $87,108,000 after buying an additional 165,000 shares during the period. Finally, Columbus Circle Investors purchased a new stake in Salesforce.com during the second quarter valued at about $58,994,000. Hedge funds and other institutional investors own 85.24% 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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