Salesforce.com Inc (CRM) Earns Buy Rating from Analysts at UBS AG
Equities research analysts at UBS AG started coverage on shares of Salesforce.com Inc (NYSE:CRM) in a research report issued to clients and investors on Thursday, 99wallstreet.com reports. The brokerage set a “buy” rating on the CRM provider’s stock.
Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded Salesforce.com from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research note on Monday, August 21st. Credit Suisse Group started coverage on shares of Salesforce.com in a research report on Tuesday, August 1st. They set an “outperform” rating and a $110.00 price target on the stock. Wells Fargo & Company reaffirmed a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Thursday, August 24th. BNP Paribas restated a “buy” rating and issued a $95.00 price objective on shares of Salesforce.com in a research note on Friday, August 25th. Finally, JMP Securities reiterated a “buy” rating and set a $95.00 target price on shares of Salesforce.com in a research note on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and forty-six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $107.37.
Shares of Salesforce.com (NYSE CRM) traded up $1.64 during trading hours on Thursday, reaching $105.24. The company’s stock had a trading volume of 4,675,700 shares, compared to its average volume of 4,364,057. The company has a market cap of $75,635.98, a P/E ratio of 526.20, a PEG ratio of 10.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.77 and a quick ratio of 0.77. Salesforce.com has a 52-week low of $66.43 and a 52-week high of $105.38.
Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.24. The firm had revenue of $2.56 billion for 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 company’s revenue was up 25.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 EPS. sell-side analysts forecast that Salesforce.com will post 0.4 EPS for the current year.
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In other Salesforce.com news, insider Parker Harris sold 8,027 shares of Salesforce.com stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $92.75, for a total transaction of $744,504.25. Following the completion of the transaction, the insider now directly owns 49,913 shares of the company’s stock, valued at $4,629,430.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexandre Dayon sold 124,331 shares of Salesforce.com stock in a transaction on Friday, October 20th. The stock was sold at an average price of $99.00, for a total transaction of $12,308,769.00. Following the transaction, the insider now directly owns 154,406 shares of the company’s stock, valued at $15,286,194. The disclosure for this sale can be found here. Insiders sold 533,944 shares of company stock worth $51,820,364 over the last quarter. 6.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Salesforce.com by 5.2% in the second quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock valued at $3,996,548,000 after purchasing an additional 2,268,623 shares in the last quarter. Jennison Associates LLC raised its stake in Salesforce.com by 17.0% in the second quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock valued at $1,629,796,000 after purchasing an additional 2,740,329 shares in the last quarter. Janus Henderson Group PLC raised its stake in Salesforce.com by 911.7% in the second quarter. Janus Henderson Group PLC now owns 12,759,741 shares of the CRM provider’s stock valued at $1,104,945,000 after purchasing an additional 11,498,509 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Salesforce.com by 6.8% in the second quarter. TIAA CREF Investment Management LLC now owns 9,344,787 shares of the CRM provider’s stock valued at $809,259,000 after purchasing an additional 592,409 shares in the last quarter. Finally, Winslow Capital Management LLC raised its stake in Salesforce.com by 12.0% in the second quarter. Winslow Capital Management LLC now owns 6,266,919 shares of the CRM provider’s stock valued at $542,715,000 after purchasing an additional 670,197 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.
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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