Salesforce.com’s (CRM) Buy Rating Reiterated at JMP Securities
Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating reiterated by research analysts at JMP Securities in a report released on Monday.
CRM has been the subject of several other reports. Bank of America Corp. reiterated a “buy” rating and issued a $77.82 price objective (down from $100.00) on shares of Salesforce.com in a report on Thursday, August 25th. Citigroup Inc. cut their price target on Salesforce.com from $97.00 to $94.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. Jefferies Group restated a “hold” rating and set a $80.00 price target on shares of Salesforce.com in a research note on Tuesday, July 12th. Piper Jaffray Cos. restated a “buy” rating and set a $100.00 price target on shares of Salesforce.com in a research note on Thursday, September 1st. Finally, Cowen and Company restated an “outperform” rating and set a $100.00 price target on shares of Salesforce.com in a research note on Monday, October 3rd. Two 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. The stock has an average rating of “Buy” and an average price target of $92.56.
Salesforce.com (NYSE:CRM) traded up 5.46% on Monday, hitting $74.78. 8,625,054 shares of the company traded hands. The firm has a market capitalization of $51.22 billion, a PE ratio of 230.80 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 released its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The company earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the company earned $0.19 EPS. Salesforce.com’s revenue for the quarter was up 25.0% on a year-over-year basis. Equities research analysts predict that Salesforce.com will post $0.95 EPS for the current fiscal year.
In related news, insider Keith Block sold 10,000 shares of Salesforce.com stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $82.68, for a total transaction of $826,800.00. Following the transaction, the insider now owns 10,000 shares in the company, valued at $826,800. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 12,500 shares of the firm’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $81.92, for a total value of $1,024,000.00. Following the sale, the chief executive officer now directly owns 35,383,000 shares of the company’s stock, valued at approximately $2,898,575,360. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
Large investors have recently bought and sold shares of the company. Signaturefd LLC boosted its stake in Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock valued at $107,000 after buying an additional 693 shares during the period. M&R Capital Management Inc. acquired a new stake in Salesforce.com during the second quarter valued at about $119,000. Ropes Wealth Advisors LLC boosted its stake in Salesforce.com by 128.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider’s stock valued at $143,000 after buying an additional 1,009 shares during the period. Mycio Wealth Partners LLC boosted its stake in Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock valued at $149,000 after buying an additional 44 shares during the period. Finally, Trust Co. of Vermont boosted its stake in Salesforce.com by 123.8% in the second quarter. Trust Co. of Vermont now owns 1,936 shares of the CRM provider’s stock valued at $154,000 after buying an additional 1,071 shares during the period. 87.23% of the stock is owned by institutional investors.
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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