salesforce.com inc. Target of Unusually High Options Trading (CRM)
Shares of salesforce.com inc. (NYSE:CRM) was the target of some unusual options trading on Wednesday. Traders acquired 18,160 put options on the stock, American Banking News reports. This represents an increase of approximately 266% compared to the average volume of 4,960 put options.
In other salesforce.com inc. news, Director Lawrence Tomlinson sold 2,000 shares of the company’s stock on the open market in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $52.25, for a total value of $104,500.00. Following the completion of the sale, the director now directly owns 30,800 shares in the company, valued at approximately $1,609,300. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on CRM. Analysts at JMP Securities raised their price target on shares of salesforce.com inc. from $52.00 to $62.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Robert W. Baird reiterated a “buy” rating on shares of salesforce.com inc. in a research note to investors on Tuesday. They now have a $55.00 price target on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of salesforce.com inc. from $54.00 to $66.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. salesforce.com inc. has an average rating of “Buy” and an average target price of $94.42.
Shares of salesforce.com inc. (NYSE:CRM) opened at 49.91 on Thursday. salesforce.com inc. has a one year low of $34.76 and a one year high of $54.25. The stock has a 50-day moving average of $49.48 and a 200-day moving average of $43.77. The company’s market cap is $29.746 billion.
salesforce.com inc. (NYSE:CRM) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.07 by $0.02. The company had revenue of $957.00 million for the quarter, compared to the consensus estimate of $938.40 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 30.7% on a year-over-year basis. Analysts expect that salesforce.com inc. will post $0.34 EPS for the current fiscal year.
Salesforce.com, inc., is a provider of enterprise cloud computing and social enterprise solutions. The Company provides a customer and collaboration relationship management (NYSE:CRM), applications through the Internet or cloud.
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