Salesforce.com Inc (CRM) Given a $97.00 Price Target by Jefferies Group LLC Analysts
Jefferies Group LLC set a $97.00 price objective on Salesforce.com Inc (NYSE:CRM) in a research report sent to investors on Wednesday morning. The brokerage currently has a neutral rating on the CRM provider’s stock.
Several other analysts also recently weighed in on CRM. Zacks Investment Research downgraded Salesforce.com from a hold rating to a sell rating in a report on Tuesday, July 11th. Vetr downgraded Salesforce.com from a strong-buy rating to a buy rating and set a $97.77 target price for the company. in a report on Tuesday, July 11th. Royal Bank Of Canada reissued a buy rating and issued a $102.00 target price on shares of Salesforce.com in a report on Monday, July 31st. Credit Suisse Group began coverage on Salesforce.com in a report on Tuesday, August 1st. They issued an outperform rating and a $110.00 target price for the company. Finally, Roth Capital restated a buy rating and issued a $112.00 price target (up previously from $103.00) on shares of Salesforce.com in a research report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and forty-six have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $104.79.
Shares of Salesforce.com (NYSE:CRM) opened at $102.72 on Wednesday. Salesforce.com has a fifty-two week low of $66.43 and a fifty-two week high of $105.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization of $73,609.26, a PE ratio of 512.10, a PEG ratio of 9.77 and a beta of 1.24.
Salesforce.com (NYSE:CRM) last posted its 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. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $0.24 EPS. The business’s quarterly revenue was up 25.7% on a year-over-year basis. analysts anticipate that Salesforce.com will post 0.4 earnings per share for the current fiscal year.
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In other news, insider Parker Harris sold 8,027 shares of Salesforce.com stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $90.76, for a total transaction of $728,530.52. Following the sale, the insider now owns 49,913 shares of the company’s stock, valued at $4,530,103.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Keith Block sold 10,000 shares of Salesforce.com stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $102.49, for a total value of $1,024,900.00. Following the sale, the insider now directly owns 24,154 shares in the company, valued at approximately $2,475,543.46. The disclosure for this sale can be found here. Insiders sold 524,172 shares of company stock worth $50,803,446 in the last three months. 6.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Analysts LLC increased its stake in shares of Salesforce.com by 14.1% during the second 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 during the period. Peddock Capital Advisors LLC increased its stake in shares of Salesforce.com by 3,000.0% during the second 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 during the period. People s United Financial Inc. increased its stake in shares of Salesforce.com by 60.1% during the second 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 during the period. Shine Investment Advisory Services Inc. acquired a new position in shares of Salesforce.com during the second quarter valued at approximately $130,000. Finally, First Personal Financial Services increased its stake in shares of Salesforce.com by 1.6% during the second quarter. First Personal Financial Services now owns 1,636 shares of the CRM provider’s stock valued at $142,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 86.15% of the company’s stock.
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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