Salesforce.com Inc (CRM) Stock Rating Reaffirmed by Oppenheimer Holdings, Inc.
Salesforce.com Inc (NYSE:CRM)‘s stock had its “buy” rating reiterated by investment analysts at Oppenheimer Holdings, Inc. in a report released on Thursday. They presently have a $100.00 price target on the CRM provider’s stock. Oppenheimer Holdings, Inc.’s price target would indicate a potential upside of 6.27% from the company’s previous close.
Other research analysts have also issued reports about the company. Stifel Nicolaus restated a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Salesforce.com in a research report on Friday, May 19th. Vetr upgraded Salesforce.com from a “hold” rating to a “buy” rating and set a $95.22 price target on the stock in a research report on Monday, May 15th. Drexel Hamilton restated a “buy” rating and issued a $100.00 price target on shares of Salesforce.com in a research report on Monday, May 15th. Benchmark Co. raised their price target on Salesforce.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Finally, Zacks Investment Research upgraded Salesforce.com from a “sell” rating to a “buy” rating and set a $97.00 price target on the stock in a research report on Tuesday, May 9th. One 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 company. The stock currently has a consensus rating of “Buy” and an average price target of $101.72.
Shares of Salesforce.com (NYSE CRM) traded down 0.05% on Thursday, hitting $94.10. The stock had a trading volume of 5,310,995 shares. The company’s 50-day moving average price is $90.44 and its 200 day moving average price is $86.60. The firm’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.
Salesforce.com (NYSE:CRM) last announced 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 positive return on equity of 1.83% and a negative net margin of 0.85%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the company earned $0.24 EPS. The business’s quarterly revenue was up 25.7% compared to the same quarter last year. On average, equities research analysts forecast that Salesforce.com will post $1.31 earnings per share for the current fiscal year.
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In related news, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $85.73, for a total transaction of $857,300.00. Following the sale, the chairman now owns 34,195,300 shares of the company’s stock, valued at $2,931,563,069. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark J. Hawkins sold 490 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $93.52, for a total transaction of $45,824.80. Following the sale, the chief financial officer now directly owns 14,886 shares in the company, valued at approximately $1,392,138.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,270,082 shares of company stock worth $114,312,463. 6.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC boosted its position in Salesforce.com by 911.7% in the second quarter. Janus Henderson Group PLC now owns 12,759,741 shares of the CRM provider’s stock valued at $1,104,945,000 after buying an additional 11,498,509 shares during the last quarter. Jennison Associates LLC boosted its position in Salesforce.com by 17.0% in the second quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock valued at $1,629,796,000 after buying an additional 2,740,329 shares during the last quarter. Vanguard Group Inc. boosted its position in Salesforce.com by 5.2% in the second quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock valued at $3,996,548,000 after buying an additional 2,268,623 shares during the last quarter. Tybourne Capital Management HK Ltd. boosted its position in Salesforce.com by 76.5% in the second quarter. Tybourne Capital Management HK Ltd. now owns 4,738,144 shares of the CRM provider’s stock valued at $410,323,000 after buying an additional 2,053,200 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in Salesforce.com by 21.6% in the first quarter. Janus Capital Management LLC now owns 10,755,181 shares of the CRM provider’s stock valued at $927,363,000 after buying an additional 1,910,921 shares during the last quarter. Hedge funds and other institutional investors own 86.29% 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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