Salesforce.com Inc. (CRM) Rating Reiterated by Goldman Sachs Group Inc.
Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating restated by investment analysts at Goldman Sachs Group Inc. in a research report issued on Wednesday. They presently have a $96.00 price objective on the CRM provider’s stock. Goldman Sachs Group Inc.’s target price suggests a potential upside of 35.38% from the stock’s current price.
A number of other brokerages have also recently commented on CRM. Bank of America Corp. reiterated a “buy” rating on shares of Salesforce.com in a report on Wednesday, June 8th. Brean Capital reiterated a “buy” rating and issued a $110.00 target price on shares of Salesforce.com in a report on Thursday, June 9th. Morgan Stanley dropped their target price on Salesforce.com from $110.00 to $94.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Cowen and Company assumed coverage on Salesforce.com in a report on Friday, June 24th. They issued an “outperform” rating and a $79.39 target price for the company. Finally, Jefferies Group reiterated a “hold” rating and issued a $80.00 target price on shares of Salesforce.com in a report on Tuesday, July 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $92.56.
Shares of Salesforce.com (NYSE:CRM) traded down 0.49% during midday trading on Wednesday, reaching $70.91. The company had a trading volume of 6,707,404 shares. The stock has a market capitalization of $48.57 billion, a price-to-earnings ratio of 218.86 and a beta of 1.59. The firm’s 50 day moving average price is $74.35 and its 200-day moving average price is $77.70. Salesforce.com has a 1-year low of $52.60 and a 1-year high of $84.48.
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Salesforce.com (NYSE:CRM) last announced its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The firm earned $2.04 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 EPS. Equities research analysts expect that Salesforce.com will post $0.95 EPS for the current fiscal year.
In other news, insider Parker Harris sold 5,000 shares of Salesforce.com stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $81.92, for a total transaction of $409,600.00. Following the completion of the sale, the insider now directly owns 37,620 shares in the company, valued at approximately $3,081,830.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Craig Conway sold 400 shares of Salesforce.com stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $81.86, for a total transaction of $32,744.00. Following the sale, the director now owns 9,268 shares of the company’s stock, valued at $758,678.48. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Brighton Jones LLC increased its stake in Salesforce.com by 0.5% in the second quarter. Brighton Jones LLC now owns 4,270 shares of the CRM provider’s stock worth $339,000 after buying an additional 22 shares during the last quarter. Hollencrest Securities LLC increased its position in shares of Salesforce.com by 0.9% in the second quarter. Hollencrest Securities LLC now owns 3,229 shares of the CRM provider’s stock valued at $256,000 after buying an additional 29 shares in the last quarter. Cornerstone Advisors Inc. increased its position in shares of Salesforce.com by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,552 shares of the CRM provider’s stock valued at $282,000 after buying an additional 35 shares in the last quarter. Integrated Investment Consultants LLC increased its position in shares of Salesforce.com by 1.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock valued at $225,000 after buying an additional 37 shares in the last quarter. Finally, Fulton Bank N.A. increased its position in shares of Salesforce.com by 0.3% in the second quarter. Fulton Bank N.A. now owns 12,763 shares of the CRM provider’s stock valued at $1,014,000 after buying an additional 38 shares in the last quarter. Institutional investors own 87.23% of the company’s stock.
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
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