Salesforce.com Inc. (CRM) Stock Rating Reaffirmed by JPMorgan Chase & Co.
Salesforce.com Inc. (NYSE:CRM)‘s stock had its “overweight” rating restated by research analysts at JPMorgan Chase & Co. in a research report issued on Wednesday. They currently have a $95.00 price target on the CRM provider’s stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 31.18% from the stock’s previous close.
Several other equities analysts have also issued reports on CRM. SunTrust Banks Inc. reaffirmed a “buy” rating and set a $98.00 price objective on shares of Salesforce.com in a report on Tuesday, June 14th. BMO Capital Markets assumed coverage on shares of Salesforce.com in a research report on Tuesday, June 14th. They issued an “outperform” rating and a $98.00 price objective for the company. Vetr upgraded shares of Salesforce.com from a “strong sell” rating to a “strong-buy” rating and set a $97.12 price objective for the company in a research report on Tuesday, June 14th. Cowen and Company began coverage on shares of Salesforce.com in a research report on Friday, June 24th. They set an “outperform” rating and a $79.39 price target for the company. Finally, Brean Capital reiterated a “buy” rating and set a $110.00 price target on shares of Salesforce.com in a research report on Saturday, June 25th. Two 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 company’s stock. Salesforce.com presently has a consensus rating of “Buy” and an average price target of $92.56.
Salesforce.com (NYSE:CRM) traded down 0.43% during midday trading on Wednesday, reaching $72.11. The company’s stock had a trading volume of 575,428 shares. Salesforce.com has a 12-month low of $52.60 and a 12-month high of $84.48. The firm has a 50 day moving average price of $74.14 and a 200-day moving average price of $77.76. The company has a market cap of $49.40 billion, a P/E ratio of 222.56 and a beta of 1.59.
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Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 earnings per share. On average, equities research analysts predict that Salesforce.com will post $0.95 earnings per share for the current fiscal year.
In other Salesforce.com news, insider Alexandre Dayon sold 2,158 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $73.82, for a total value of $159,303.56. Following the transaction, the insider now owns 17,454 shares in the company, valued at approximately $1,288,454.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Keith Block sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $81.70, for a total transaction of $817,000.00. Following the completion of the transaction, the chief operating officer now owns 10,000 shares in the company, valued at approximately $817,000. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its position 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 in the last quarter. M&R Capital Management Inc. bought a new position in Salesforce.com during the second quarter valued at $119,000. Ropes Wealth Advisors LLC raised its position 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 in the last quarter. Mycio Wealth Partners LLC raised its position 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 in the last quarter. Finally, Trust Co. of Vermont raised its position 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 in the last quarter. Hedge funds and other 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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