Salesforce.com Inc (CRM) Now Covered by Moffett Nathanson
Analysts at Moffett Nathanson began coverage on shares of Salesforce.com Inc (NYSE:CRM) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating and a $125.00 price target on the CRM provider’s stock. Moffett Nathanson’s target price would indicate a potential upside of 29.96% from the stock’s current price.
A number of other equities analysts have also recently weighed in on CRM. Zacks Investment Research upgraded shares of Salesforce.com from a “sell” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Tuesday, May 9th. Piper Jaffray Companies restated an “overweight” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Sunday, May 14th. BMO Capital Markets reduced their price objective on shares of Salesforce.com from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Monday, May 15th. Wedbush restated an “outperform” rating and set a $102.00 price objective (down from $105.00) on shares of Salesforce.com in a research report on Monday, May 15th. Finally, Benchmark Co. upped their price objective on shares of Salesforce.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and forty-seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $102.28.
Shares of Salesforce.com (CRM) traded down 0.79% on Wednesday, hitting $95.42. The stock had a trading volume of 773,583 shares. The firm has a 50-day moving average of $91.48 and a 200 day moving average of $87.34. The company’s market capitalization is $68.58 billion. Salesforce.com has a 1-year low of $66.43 and a 1-year high of $96.49.
Salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the business posted $0.24 EPS. The business’s revenue was up 25.7% compared to the same quarter last year. On average, equities analysts anticipate that Salesforce.com will post $1.31 earnings per share for the current fiscal year.
In other Salesforce.com news, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $91.02, for a total value of $910,200.00. Following the transaction, the chairman now directly owns 34,195,300 shares of the company’s stock, valued at approximately $3,112,456,206. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 8,027 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $87.27, for a total value of $700,516.29. Following the completion of the transaction, the insider now directly owns 49,913 shares in the company, valued at $4,355,907.51. The disclosure for this sale can be found here. Insiders have sold a total of 722,333 shares of company stock valued at $64,869,928 in the last quarter. Company insiders own 6.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Appropriate Balance Financial Services Inc. raised its position in shares of Salesforce.com by 6.9% during the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock valued at $5,928,000 after acquiring an additional 33 shares in the last quarter. Capital Analysts LLC raised its position in shares of Salesforce.com by 14.1% during the 2nd quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock valued at $110,000 after acquiring an additional 156 shares in the last quarter. Peddock Capital Advisors LLC raised its position in shares of Salesforce.com by 3,000.0% during the 2nd quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock valued at $121,000 after acquiring an additional 1,350 shares in the last quarter. People s United Financial Inc. raised its position in shares of Salesforce.com by 60.1% during the 2nd quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock valued at $127,000 after acquiring an additional 550 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new stake in shares of Salesforce.com during the 2nd quarter valued at approximately $130,000. 86.98% of the stock is currently owned by institutional investors and hedge funds.
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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