Salesforce.com Inc (CRM) Stock Rating Upgraded by BidaskClub
BidaskClub upgraded shares of Salesforce.com Inc (NYSE:CRM) from a hold rating to a buy rating in a report issued on Tuesday.
A number of other equities analysts also recently commented on CRM. Vetr downgraded shares of Salesforce.com from a buy rating to a hold rating and set a $93.21 price objective for the company. in a report on Tuesday, August 15th. Northland Securities set a $105.00 price objective on shares of Salesforce.com and gave the stock a buy rating in a report on Saturday, June 24th. Credit Suisse Group reaffirmed an outperform rating and set a $115.00 price objective (up from $110.00) on shares of Salesforce.com in a report on Tuesday. Roth Capital reissued a buy rating and set a $112.00 price target (up from $103.00) on shares of Salesforce.com in a report on Tuesday. Finally, Zacks Investment Research raised shares of Salesforce.com from a hold rating to a buy rating and set a $102.00 price target for the company in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and forty-five have issued a buy rating to the company’s stock. Salesforce.com has an average rating of Buy and a consensus target price of $101.72.
Shares of Salesforce.com (NYSE CRM) opened at 94.10 on Tuesday. The firm’s market capitalization is $67.00 billion. The firm has a 50-day moving average price of $90.44 and a 200-day moving average price of $86.60. Salesforce.com has a 1-year low of $66.43 and a 1-year high of $95.23.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the firm earned $0.24 EPS. The business’s revenue was up 25.7% on a year-over-year basis. On average, analysts forecast that Salesforce.com will post $1.31 EPS for the current fiscal year.
In other Salesforce.com news, insider Joe Allanson sold 279 shares of Salesforce.com stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $90.77, for a total transaction of $25,324.83. Following the completion of the transaction, the insider now owns 28,753 shares of the company’s stock, valued at approximately $2,609,909.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 10,000 shares of Salesforce.com stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $91.24, for a total value of $912,400.00. Following the transaction, the chief executive officer now directly owns 34,195,300 shares of the company’s stock, valued at approximately $3,119,979,172. The disclosure for this sale can be found here. In the last three months, insiders sold 1,270,082 shares of company stock valued at $114,312,463. 6.70% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Sentry Investment Management LLC increased its stake in Salesforce.com by 1.1% in the second quarter. Sentry Investment Management LLC now owns 51,926 shares of the CRM provider’s stock worth $4,497,000 after buying an additional 543 shares during the last quarter. WFG Advisors LP increased its stake in Salesforce.com by 130.2% in the second quarter. WFG Advisors LP now owns 1,837 shares of the CRM provider’s stock worth $159,000 after buying an additional 1,039 shares during the last quarter. Toronto Dominion Bank increased its stake in Salesforce.com by 28.2% in the second quarter. Toronto Dominion Bank now owns 226,456 shares of the CRM provider’s stock worth $19,607,000 after buying an additional 49,835 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Salesforce.com during the second quarter worth $257,000. Finally, Advisory Services Network LLC increased its stake in Salesforce.com by 7.7% in the second quarter. Advisory Services Network LLC now owns 18,642 shares of the CRM provider’s stock worth $1,614,000 after buying an additional 1,331 shares during the last quarter. Institutional investors 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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