Societe Generale Reiterates “$110.00” Price Target for Salesforce.com Inc (CRM)
Several other analysts also recently commented on CRM. Wedbush reaffirmed an outperform rating and set a $108.00 price objective on shares of Salesforce.com in a research note on Wednesday. Vetr downgraded Salesforce.com from a buy rating to a hold rating and set a $93.21 price objective on the stock. in a research note on Tuesday, August 15th. Northland Securities reaffirmed a buy rating and set a $105.00 price objective on shares of Salesforce.com in a research note on Wednesday. William Blair reaffirmed a buy rating on shares of Salesforce.com in a research note on Wednesday. Finally, FBN Securities reaffirmed a buy rating and set a $105.00 price objective on shares of Salesforce.com in a research note on Wednesday. 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 presently has a consensus rating of Buy and a consensus price target of $101.72.
Salesforce.com (NYSE CRM) traded down 0.05% during mid-day trading on Thursday, hitting $94.10. The company had a trading volume of 5,310,995 shares. Salesforce.com has a one year low of $66.43 and a one year high of $95.23. The company’s market cap is $67.00 billion. The company’s 50 day moving average price is $90.44 and its 200-day moving average price is $86.60.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.24. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.52 billion. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 EPS. Equities research analysts anticipate that Salesforce.com will post $1.31 EPS for the current fiscal year.
In related news, CFO Mark J. Hawkins sold 490 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $93.52, for a total value of $45,824.80. Following the sale, the chief financial officer now owns 14,886 shares of the company’s stock, valued at $1,392,138.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Burke F. Norton sold 379,189 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $91.37, for a total transaction of $34,646,498.93. Following the completion of the sale, the executive vice president now directly owns 82,843 shares in the company, valued at approximately $7,569,364.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,270,082 shares of company stock worth $114,312,463. Insiders own 6.70% of the company’s stock.
Several hedge funds have recently modified their holdings of CRM. Janus Henderson Group PLC boosted its stake in shares of 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 worth $1,104,945,000 after buying an additional 11,498,509 shares during the period. Jennison Associates LLC boosted its stake in shares of Salesforce.com by 17.0% in the second quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock worth $1,629,796,000 after buying an additional 2,740,329 shares during the period. Vanguard Group Inc. boosted its stake in shares of Salesforce.com by 5.2% in the second quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock worth $3,996,548,000 after buying an additional 2,268,623 shares during the period. Tybourne Capital Management HK Ltd. boosted its stake in shares of 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 worth $410,323,000 after buying an additional 2,053,200 shares during the period. Finally, Janus Capital Management LLC boosted its stake in shares of 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 worth $927,363,000 after buying an additional 1,910,921 shares during the period. 86.29% of the stock is currently owned by institutional investors.
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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