Salesforce.com Inc (CRM) Stock Rating Reaffirmed by Stephens
Salesforce.com Inc (NYSE:CRM)‘s stock had its “overweight” rating reissued by equities research analysts at Stephens in a research report issued on Thursday. They currently have a $107.00 target price on the CRM provider’s stock, up from their previous target price of $100.00. Stephens’ price target would indicate a potential upside of 12.80% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $105.00 price target (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 target for the company in a research report on Monday, May 15th. Drexel Hamilton reiterated 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. upped their price target 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, Mizuho reiterated a “buy” rating and issued a $100.00 price target (up previously from $95.00) on shares of Salesforce.com in a research report on Friday, May 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty-six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $101.82.
Shares of Salesforce.com (NYSE CRM) traded up 0.70% during midday trading on Thursday, hitting $95.52. The company had a trading volume of 3,057,395 shares. The firm’s market capitalization is $68.65 billion. The stock 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 $95.66.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 EPS for the quarter, topping the 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 company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the business posted $0.24 EPS. The firm’s revenue was up 25.7% on a year-over-year basis. On average, equities analysts anticipate that Salesforce.com will post $1.31 EPS for the current fiscal year.
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In other Salesforce.com news, EVP Burke F. Norton sold 183,767 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $90.85, for a total value of $16,695,231.95. Following the sale, the executive vice president now directly owns 184,278 shares in the company, valued at $16,741,656.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $91.24, for a total value of $912,400.00. Following the completion of the sale, the chief executive officer now owns 34,195,300 shares in the company, valued at $3,119,979,172. The disclosure for this sale can be found here. Insiders have sold 1,222,616 shares of company stock worth $110,027,974 over the last 90 days. 6.70% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the stock. Appropriate Balance Financial Services Inc. boosted 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 in the last quarter. Capital Analysts LLC boosted 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 in the last quarter. Peddock Capital Advisors LLC boosted 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 in the last quarter. People s United Financial Inc. boosted 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 in the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new stake in shares of Salesforce.com during the second quarter worth $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.
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