JMP Securities Reiterates Outperform Rating for Salesforce.com Inc (CRM)
JMP Securities reissued their outperform rating on shares of Salesforce.com Inc (NYSE:CRM) in a research report report published on Monday, May 22nd. The firm currently has a $95.00 target price on the CRM provider’s stock, up from their prior target price of $92.00.
A number of other research firms have also weighed in on CRM. Drexel Hamilton reissued a buy rating and issued a $100.00 target price on shares of Salesforce.com in a research note on Monday, May 15th. Vetr raised Salesforce.com from a hold rating to a buy rating and set a $95.22 target price for the company in a research note on Monday, May 15th. Piper Jaffray Companies reissued an overweight rating and issued a $100.00 target price on shares of Salesforce.com in a research note on Sunday, May 14th. BMO Capital Markets reduced their price target on Salesforce.com from $100.00 to $92.00 and set an outperform rating on the stock in a report on Monday, May 15th. Finally, Wedbush restated an outperform rating and set a $102.00 price target (down previously from $105.00) on shares of Salesforce.com in a report on Monday, May 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $96.78.
Salesforce.com (NYSE CRM) traded down 0.31% during mid-day trading on Monday, hitting $86.00. The stock had a trading volume of 8,004,954 shares. The company has a market cap of $61.25 billion, a price-to-earnings ratio of 455.03 and a beta of 1.24. Salesforce.com has a 12 month low of $66.43 and a 12 month high of $91.99. The firm’s 50-day moving average is $88.47 and its 200 day moving average is $81.01.
Salesforce.com (NYSE:CRM) last released its earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the company posted $0.24 EPS. Salesforce.com’s revenue for the quarter was up 24.6% on a year-over-year basis. Equities analysts anticipate that Salesforce.com will post $1.30 EPS for the current fiscal year.
In other news, CEO Marc Benioff sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $89.80, for a total transaction of $898,000.00. Following the sale, the chief executive officer now directly owns 34,195,300 shares of the company’s stock, valued at $3,070,737,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Burke F. Norton sold 210,800 shares of the business’s stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $81.73, for a total transaction of $17,228,684.00. Following the sale, the executive vice president now directly owns 290,385 shares in the company, valued at $23,733,166.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,578,176 shares of company stock worth $137,994,329. 6.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. TRUE Private Wealth Advisors increased its position in Salesforce.com by 2.8% in the third quarter. TRUE Private Wealth Advisors now owns 5,784 shares of the CRM provider’s stock worth $408,000 after buying an additional 158 shares in the last quarter. Cabot Wealth Management Inc. increased its position in shares of Salesforce.com by 62.3% in the third quarter. Cabot Wealth Management Inc. now owns 62,827 shares of the CRM provider’s stock worth $4,481,000 after buying an additional 24,112 shares during the period. Fagan Associates Inc. increased its position in shares of Salesforce.com by 4.5% in the third quarter. Fagan Associates Inc. now owns 21,385 shares of the CRM provider’s stock worth $1,525,000 after buying an additional 925 shares during the period. Transamerica Financial Advisors Inc. increased its position in shares of Salesforce.com by 8.9% in the third quarter. Transamerica Financial Advisors Inc. now owns 25,997 shares of the CRM provider’s stock worth $1,855,000 after buying an additional 2,114 shares during the period. Finally, Sei Investments Co. increased its position in shares of Salesforce.com by 7.5% in the third quarter. Sei Investments Co. now owns 948,611 shares of the CRM provider’s stock worth $67,665,000 after buying an additional 66,390 shares during the period. Institutional investors own 85.67% of the company’s stock.
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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