Salesforce.com Inc. (CRM) Receives “Buy” Rating from BMO Capital Markets
Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating reaffirmed by analysts at BMO Capital Markets in a research note issued on Wednesday. They currently have a $86.00 price target on the CRM provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 21.28% from the stock’s current price.
A number of other analysts have also recently commented on the stock. SunTrust Banks Inc. reiterated a “buy” rating and issued a $98.00 price target on shares of Salesforce.com in a research note on Tuesday, June 14th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Salesforce.com in a research note on Monday, June 13th. Brean Capital reiterated a “buy” rating and issued a $110.00 price target on shares of Salesforce.com in a research note on Thursday, June 9th. Bank of America Corp. reiterated a “buy” rating on shares of Salesforce.com in a research note on Wednesday, June 8th. Finally, Vetr cut shares of Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $83.58 price target for the company. in a research note on Monday, July 4th. Two investment 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 stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $92.56.
Salesforce.com (NYSE:CRM) traded down 0.49% during trading on Wednesday, reaching $70.91. 6,707,404 shares of the company’s stock traded hands. The firm’s 50 day moving average is $74.35 and its 200 day moving average is $77.70. Salesforce.com has a 12 month low of $52.60 and a 12 month high of $84.48. The company has a market cap of $48.57 billion, a P/E ratio of 218.86 and a beta of 1.59.
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Salesforce.com (NYSE:CRM) last released its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The business earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. Analysts anticipate that Salesforce.com will post $0.95 EPS for the current year.
In other Salesforce.com news, insider Alexandre Dayon sold 2,158 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $73.82, for a total transaction of $159,303.56. Following the completion of the sale, the insider now directly owns 17,454 shares in the company, valued at approximately $1,288,454.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Marc Benioff sold 12,500 shares of the business’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $71.17, for a total value of $889,625.00. Following the sale, the chairman now owns 35,033,000 shares of the company’s stock, valued at $2,493,298,610. The disclosure for this sale can be found here. 6.70% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in CRM. Triangle Securities Wealth Management bought a new position in Salesforce.com during the third quarter worth $843,000. New England Research & Management Inc. acquired a new position in Salesforce.com during the third quarter worth approximately $449,000. Boltwood Capital Management boosted its position in Salesforce.com by 4.2% in the third quarter. Boltwood Capital Management now owns 11,345 shares of the CRM provider’s stock worth $809,000 after buying an additional 460 shares in the last quarter. Fulton Bank N.A. boosted its position in Salesforce.com by 44.0% in the third quarter. Fulton Bank N.A. now owns 18,383 shares of the CRM provider’s stock worth $1,311,000 after buying an additional 5,620 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Salesforce.com by 4.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,330,380 shares of the CRM provider’s stock worth $237,556,000 after buying an additional 139,700 shares in the last quarter. Institutional investors and hedge funds 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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