Salesforce.com Inc (CRM) Downgraded by Vetr Inc.
Salesforce.com Inc (NYSE:CRM) was downgraded by equities research analysts at Vetr from a “hold” rating to a “strong sell” rating in a report released on Wednesday. They presently have a $80.76 price target on the CRM provider’s stock. Vetr‘s target price suggests a potential downside of 15.88% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus raised their price objective on shares of Salesforce.com from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, August 23rd. KeyCorp reaffirmed a “buy” rating and issued a $108.00 target price on shares of Salesforce.com in a research note on Wednesday, August 23rd. BidaskClub raised shares of Salesforce.com from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Roth Capital reaffirmed a “buy” rating and issued a $112.00 target price (up previously from $103.00) on shares of Salesforce.com in a research note on Tuesday, August 22nd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $102.00 target price on shares of Salesforce.com in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and forty-five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $102.40.
Salesforce.com (NYSE CRM) traded up 0.65% during midday trading on Wednesday, hitting $96.01. The company has a 50-day moving average price of $95.00 and a 200 day moving average price of $89.62. The company’s market capitalization is $69.00 billion. Salesforce.com has a 12 month low of $66.43 and a 12 month high of $98.22.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 negative net margin of 0.85% and a positive return on equity of 1.83%. The business’s revenue was up 25.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 EPS. On average, equities analysts anticipate that Salesforce.com will post $1.32 earnings per share for the current year.
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In other Salesforce.com news, Vice Chairman Keith Block sold 7,641 shares of Salesforce.com stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $95.85, for a total transaction of $732,389.85. Following the completion of the sale, the insider now owns 14,718 shares of the company’s stock, valued at approximately $1,410,720.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 8,027 shares of Salesforce.com stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $89.17, for a total value of $715,767.59. Following the sale, the insider now directly owns 49,913 shares of the company’s stock, valued at approximately $4,450,742.21. The disclosure for this sale can be found here. Insiders have sold a total of 506,342 shares of company stock worth $46,913,783 over the last 90 days. 6.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Salesforce.com by 5.1% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,667 shares of the CRM provider’s stock valued at $385,000 after buying an additional 226 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Salesforce.com by 16.6% in the 1st quarter. Van ECK Associates Corp now owns 335,980 shares of the CRM provider’s stock valued at $27,715,000 after purchasing an additional 47,748 shares in the last quarter. Citizens & Northern Corp increased its stake in shares of Salesforce.com by 1.0% in the 1st quarter. Citizens & Northern Corp now owns 19,765 shares of the CRM provider’s stock valued at $1,630,000 after purchasing an additional 187 shares in the last quarter. Gofen & Glossberg LLC IL increased its stake in shares of Salesforce.com by 5.3% in the 1st quarter. Gofen & Glossberg LLC IL now owns 9,116 shares of the CRM provider’s stock valued at $752,000 after purchasing an additional 456 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Salesforce.com by 4.0% in the 1st quarter. Principal Financial Group Inc. now owns 951,844 shares of the CRM provider’s stock valued at $78,517,000 after purchasing an additional 36,698 shares in the last quarter. Institutional investors and hedge funds own 86.06% 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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