Salesforce.com Inc. (CRM) Given “Outperform” Rating at Cowen and Company
Salesforce.com Inc. (NYSE:CRM)‘s stock had its “outperform” rating reiterated by stock analysts at Cowen and Company in a research report issued to clients and investors on Wednesday. They currently have a $100.00 price objective on the CRM provider’s stock. Cowen and Company’s target price would indicate a potential upside of 38.08% from the stock’s previous close.
Several other research analysts also recently weighed in on CRM. SunTrust Banks Inc. reissued a “buy” rating and issued a $98.00 target price on shares of Salesforce.com in a research report on Tuesday, June 14th. BMO Capital Markets started coverage on shares of Salesforce.com in a research report on Tuesday, June 14th. They issued an “outperform” rating and a $98.00 target price on the stock. Vetr raised shares of Salesforce.com from a “strong sell” rating to a “strong-buy” rating and set a $97.12 target price on the stock in a research report on Tuesday, June 14th. Brean Capital reissued a “buy” rating and issued a $110.00 target price on shares of Salesforce.com in a research report on Saturday, June 25th. Finally, JMP Securities reissued an “outperform” rating and issued a $92.00 target price on shares of Salesforce.com in a research report on Sunday, June 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and forty-four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $92.56.
Shares of Salesforce.com (NYSE:CRM) traded up 0.0920% during trading on Wednesday, hitting $72.4866. 3,782,754 shares of the company traded hands. The firm has a 50 day moving average price of $74.14 and a 200-day moving average price of $77.76. The stock has a market cap of $49.65 billion, a price-to-earnings ratio of 223.7241 and a beta of 1.59. Salesforce.com has a one year low of $52.60 and a one year high of $84.48.
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Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The business’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. Analysts predict that Salesforce.com will post $0.95 EPS for the current year.
In other Salesforce.com news, Director Craig Conway sold 400 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $81.86, for a total transaction of $32,744.00. Following the completion of the sale, the director now owns 9,268 shares of the company’s stock, valued at approximately $758,678.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 12,500 shares of the firm’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $81.67, for a total value of $1,020,875.00. Following the sale, the chief executive officer now directly owns 35,383,000 shares of the company’s stock, valued at approximately $2,889,729,610. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Signaturefd LLC increased its stake in shares of 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 in the last quarter. M&R Capital Management Inc. acquired a new stake in shares of Salesforce.com during the second quarter valued at about $119,000. Ropes Wealth Advisors LLC increased its stake in shares of 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 in the last quarter. Mycio Wealth Partners LLC increased its stake in shares of 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 in the last quarter. Finally, Trust Co. of Vermont increased its stake in shares of 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 in the last quarter. 87.23% of the stock is owned by institutional investors and hedge funds.
Salesforce.com Company Profile
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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