Needham & Company LLC reaffirmed their hold rating on shares of Salesforce.com Inc (NYSE:CRM) in a report released on Thursday. The firm currently has a $88.00 target price on the CRM provider’s stock.

Several other research firms have also issued reports on CRM. Benchmark Co. reissued a buy rating on shares of Salesforce.com in a research note on Thursday. Instinet reissued a buy rating and set a $90.00 price objective on shares of Salesforce.com in a research note on Thursday. Wells Fargo & Company reissued a buy rating and set a $100.00 price objective on shares of Salesforce.com in a research note on Thursday. Bank of America Corporation reissued a buy rating and set a $100.00 price objective on shares of Salesforce.com in a research note on Thursday. Finally, UBS AG reissued a buy rating and set a $100.00 price objective on shares of Salesforce.com in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and forty-five have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $101.72.

Salesforce.com (NYSE:CRM) opened at 94.10 on Thursday. The company has a 50-day moving average price of $90.44 and a 200-day moving average price of $86.60. Salesforce.com has a 12-month low of $66.43 and a 12-month high of $95.23. The firm’s market cap is $67.00 billion.

Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.24. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. On average, analysts predict that Salesforce.com will post $1.31 earnings per share for the current year.

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In other Salesforce.com news, EVP Burke F. Norton sold 574 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $90.80, for a total value of $52,119.20. Following the completion of the sale, the executive vice president now owns 81,818 shares in the company, valued at approximately $7,429,074.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Burke F. Norton sold 379,189 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $91.37, for a total value of $34,646,498.93. Following the completion of the sale, the executive vice president now owns 82,843 shares of the company’s stock, valued at approximately $7,569,364.91. The disclosure for this sale can be found here. Insiders sold a total of 1,270,082 shares of company stock valued at $114,312,463 over the last 90 days. 6.70% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. Appropriate Balance Financial Services Inc. raised its stake in shares of Salesforce.com by 6.9% in the second quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock worth $5,928,000 after buying an additional 33 shares during the last quarter. Capital Analysts LLC raised its stake in shares of Salesforce.com by 14.1% in the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $110,000 after buying an additional 156 shares during the last quarter. Peddock Capital Advisors LLC raised its stake in shares of Salesforce.com by 3,000.0% in the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock worth $121,000 after buying an additional 1,350 shares during the last quarter. People s United Financial Inc. raised its stake in shares of Salesforce.com by 60.1% in the second quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock worth $127,000 after buying an additional 550 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new stake in shares of Salesforce.com during the second quarter worth about $130,000. Institutional investors and hedge funds own 86.98% 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.

Analyst Recommendations for Salesforce.com (NYSE:CRM)

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