salesforce.com, inc. (CRM) Given “Outperform” Rating at Cowen and Company
salesforce.com, inc. (NYSE:CRM)‘s stock had its “outperform” rating restated by equities research analysts at Cowen and Company in a research report issued on Friday. They presently have a $100.00 target price on the CRM provider’s stock. Cowen and Company’s price target indicates a potential upside of 14.42% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of salesforce.com, inc. in a research note on Friday. Oppenheimer Holdings Inc. reissued a “hold” rating and set a $100.00 target price (up from $95.00) on shares of salesforce.com, inc. in a research report on Friday. Vetr downgraded shares of salesforce.com, inc. from a “strong-buy” rating to a “buy” rating and set a $93.31 target price on the stock. in a research report on Wednesday, March 8th. BMO Capital Markets lowered their target price on shares of salesforce.com, inc. from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Monday, May 15th. Finally, Drexel Hamilton reissued a “buy” rating and set a $100.00 target price on shares of salesforce.com, inc. in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and forty-one have assigned a buy rating to the stock. salesforce.com, inc. currently has a consensus rating of “Buy” and an average price target of $95.48.
Shares of salesforce.com, inc. (NYSE:CRM) opened at 87.40 on Friday. The firm’s 50-day moving average price is $85.62 and its 200-day moving average price is $79.03. The stock has a market cap of $61.83 billion, a P/E ratio of 336.15 and a beta of 1.42. salesforce.com, inc. has a 52-week low of $66.43 and a 52-week high of $91.00.
salesforce.com, inc. (NYSE:CRM) last posted its quarterly earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. salesforce.com, inc. had a net margin of 2.60% and a return on equity of 2.40%. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the business posted $0.24 earnings per share. salesforce.com, inc.’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities research analysts forecast that salesforce.com, inc. will post $1.29 earnings per share for the current fiscal year.
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In related news, insider Alexandre Dayon sold 1,609 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $81.48, for a total value of $131,101.32. Following the transaction, the insider now owns 23,826 shares in the company, valued at approximately $1,941,342.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Maynard G. Webb, Jr. sold 335 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $86.25, for a total transaction of $28,893.75. Following the completion of the transaction, the director now owns 33,728 shares in the company, valued at approximately $2,909,040. The disclosure for this sale can be found here. Insiders have sold a total of 1,007,585 shares of company stock worth $84,292,293 over the last 90 days. 6.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of salesforce.com, inc. during the fourth quarter worth approximately $382,802,000. Vanguard Group Inc. raised its position in shares of salesforce.com, inc. by 4.7% in the first quarter. Vanguard Group Inc. now owns 43,880,907 shares of the CRM provider’s stock worth $3,619,736,000 after buying an additional 1,956,427 shares during the period. Two Sigma Advisers LP raised its position in shares of salesforce.com, inc. by 639.2% in the third quarter. Two Sigma Advisers LP now owns 2,252,776 shares of the CRM provider’s stock worth $160,691,000 after buying an additional 1,948,000 shares during the period. Janus Capital Management LLC raised its position in shares of salesforce.com, inc. by 21.6% in the first quarter. Janus Capital Management LLC now owns 10,755,181 shares of the CRM provider’s stock worth $927,363,000 after buying an additional 1,910,921 shares during the period. Finally, State Street Corp raised its position in shares of salesforce.com, inc. by 7.0% in the fourth quarter. State Street Corp now owns 26,765,636 shares of the CRM provider’s stock worth $1,832,372,000 after buying an additional 1,756,272 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.
About salesforce.com, inc.
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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