salesforce.com, inc.’s Neutral Rating Reiterated at Zacks (CRM)
salesforce.com, inc. (NYSE:CRM)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Monday. They currently have a $63.00 price target on the stock. Zacks‘s price objective points to a potential upside of 5.35% from the stock’s previous close.
Zacks’ analyst wrote, “Salesforce’s adjusted loss per share in second-quarter fiscal 2015 was wider than the Zacks Consensus Estimate. Revenues increased on a year-over-year basis, primarily due to growth across all it business segments. The company provided positive third-quarter revenue guidance and raised fiscal 2015 guidance as well. We consider the rapid adoption of Salesforce1 Customer Platform to be a positive for the company. Overall, the company’s diverse cloud offerings and strong spending on digital marketing remain catalysts. Although the company is growing reasonably in the cloud market, growth prospects have been rationalized to a considerable extent due to intensifying competition. Currency fluctuations and an increase in investments for international expansions and data centers could impact near-term results. Thus, we reiterate our Neutral recommendation on the stock.”
A number of other analysts have also recently weighed in on CRM. Analysts at Argus reiterated a “buy” rating on shares of salesforce.com, inc. in a research note on Monday. They now have a $71.00 price target on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of salesforce.com, inc. from $65.00 to $70.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Pivotal Research raised their price target on shares of salesforce.com, inc. from $70.00 to $71.00 in a research note on Friday. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $67.47.
In other salesforce.com, inc. news, CEO Marc Benioff sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $59.95, for a total transaction of $1,199,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of salesforce.com, inc. (NYSE:CRM) traded down 1.19% during mid-day trading on Monday, hitting $59.09. The stock had a trading volume of 3,806,421 shares. salesforce.com, inc. has a 52 week low of $42.11 and a 52 week high of $67.00. The stock’s 50-day moving average is $54.43 and its 200-day moving average is $56.10. The company’s market cap is $36.459 billion.
salesforce.com, inc. (NYSE:CRM) last posted its quarterly earnings results on Thursday, August 21st. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.12 by $0.01. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 37.9% on a year-over-year basis. On average, analysts predict that salesforce.com, inc. will post $0.51 earnings per share 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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