Robert W. Baird Reaffirms “Buy” Rating for Salesforce.com Inc (CRM)
Robert W. Baird restated their buy rating on shares of Salesforce.com Inc (NYSE:CRM) in a research note published on Wednesday morning, MarketBeat reports. Robert W. Baird currently has a $110.00 target price on the CRM provider’s stock, up from their prior target price of $100.00.
Other analysts have also recently issued research reports about the stock. Stifel Nicolaus restated a buy rating and issued a $105.00 price objective (up previously from $100.00) on shares of Salesforce.com in a research report on Friday, May 19th. Vetr upgraded shares of Salesforce.com from a hold rating to a buy rating and set a $95.22 price objective for the company in a research report on Monday, May 15th. Drexel Hamilton restated a buy rating and issued a $100.00 price objective on shares of Salesforce.com in a research report on Monday, May 15th. Benchmark Co. upped their price objective on shares of Salesforce.com from $100.00 to $110.00 and gave the company a buy rating in a research report on Monday, May 15th. Finally, Zacks Investment Research upgraded shares of Salesforce.com from a sell rating to a buy rating and set a $97.00 price objective for the company in a research report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and forty-five have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $101.72.
Shares of Salesforce.com (NYSE CRM) traded down 0.05% during mid-day trading on Wednesday, hitting $94.10. The company had a trading volume of 5,310,995 shares. The company’s market cap is $67.00 billion. Salesforce.com has a 12 month low of $66.43 and a 12 month high of $95.23. The firm has a 50-day moving average of $90.44 and a 200-day moving average of $86.60.
Salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.24. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the company earned $0.24 EPS. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. On average, analysts expect that Salesforce.com will post $1.31 EPS for the current year.
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In other news, CFO Mark J. Hawkins sold 490 shares of Salesforce.com stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $93.52, for a total transaction of $45,824.80. Following the transaction, the chief financial officer now owns 14,886 shares in the company, valued at $1,392,138.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of Salesforce.com stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $90.83, for a total transaction of $908,300.00. Following the transaction, the chairman now owns 34,195,300 shares in the company, valued at approximately $3,105,959,099. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,270,082 shares of company stock worth $114,312,463. 6.70% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CRM. AMF Pensionsforsakring AB raised its position in Salesforce.com by 9.8% in the first quarter. AMF Pensionsforsakring AB now owns 759,615 shares of the CRM provider’s stock valued at $62,661,000 after buying an additional 67,760 shares during the last quarter. Schmidt P J Investment Management Inc. raised its position in Salesforce.com by 12.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 4,890 shares of the CRM provider’s stock valued at $403,000 after buying an additional 560 shares during the last quarter. IFP Advisors Inc raised its position in Salesforce.com by 10.5% in the first quarter. IFP Advisors Inc now owns 6,642 shares of the CRM provider’s stock valued at $548,000 after buying an additional 630 shares during the last quarter. Shell Asset Management Co. raised its position in Salesforce.com by 0.7% in the first quarter. Shell Asset Management Co. now owns 72,793 shares of the CRM provider’s stock valued at $6,005,000 after buying an additional 497 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Salesforce.com by 7.3% in the first quarter. Janney Montgomery Scott LLC now owns 40,139 shares of the CRM provider’s stock valued at $3,311,000 after buying an additional 2,717 shares during the last quarter. Institutional investors and hedge funds own 86.29% of the company’s stock.
Salesforce.com Company Profile
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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