Stifel Nicolaus Reiterates Buy Rating for salesforce.com, inc. (CRM)
salesforce.com, inc. (NYSE:CRM)‘s stock had its “buy” rating reaffirmed by Stifel Nicolaus in a research note issued on Friday. They presently have a $105.00 target price on the CRM provider’s stock, up from their previous target price of $100.00. Stifel Nicolaus’ price target would suggest a potential upside of 20.14% from the company’s current price.
Several other analysts also recently issued reports on CRM. Cowen and Company reissued an “outperform” rating and set a $100.00 target price on shares of salesforce.com, inc. in a research note on Wednesday, March 8th. Wedbush reissued an “outperform” rating and set a $102.00 target price (down from $105.00) on shares of salesforce.com, inc. in a research note on Monday, May 15th. Drexel Hamilton reissued a “buy” rating and set a $100.00 target price on shares of salesforce.com, inc. in a research note on Monday, May 15th. Benchmark Co. boosted their target price on shares of salesforce.com, inc. from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Finally, Vetr raised shares of salesforce.com, inc. from a “hold” rating to a “buy” rating and set a $95.22 target price on the stock in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and forty-one have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $95.48.
salesforce.com, inc. (NYSE:CRM) traded down 0.40% during midday trading on Friday, hitting $87.40. The stock had a trading volume of 15,733,470 shares. The firm has a 50 day moving average price of $85.62 and a 200 day moving average price of $79.03. The stock has a market cap of $61.83 billion, a PE ratio of 336.15 and a beta of 1.42. salesforce.com, inc. has a one year low of $66.43 and a one year high of $91.00.
salesforce.com, inc. (NYSE:CRM) last announced its earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the business earned $0.24 EPS. The company’s revenue was up 24.6% on a year-over-year basis. Equities analysts expect that salesforce.com, inc. will post $1.29 EPS for the current year.
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In other salesforce.com, inc. news, Director Susan Wojcicki acquired 1,224 shares of salesforce.com, inc. stock in a transaction on Monday, March 6th. The shares were purchased at an average cost of $81.68 per share, with a total value of $99,976.32. Following the completion of the purchase, the director now owns 25,554 shares in the company, valued at $2,087,250.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $82.00, for a total transaction of $820,000.00. Following the completion of the transaction, the chairman now directly owns 34,195,300 shares in the company, valued at $2,804,014,600. The disclosure for this sale can be found here. Insiders have sold 1,007,585 shares of company stock worth $84,292,293 over the last three months. 6.70% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in CRM. JNBA Financial Advisors raised its stake in salesforce.com, inc. by 9.3% in the fourth quarter. JNBA Financial Advisors now owns 1,828 shares of the CRM provider’s stock valued at $125,000 after buying an additional 155 shares during the period. First Personal Financial Services raised its stake in salesforce.com, inc. by 7.5% in the first quarter. First Personal Financial Services now owns 1,611 shares of the CRM provider’s stock valued at $133,000 after buying an additional 112 shares during the period. Dubuque Bank & Trust Co. raised its stake in salesforce.com, inc. by 387.1% in the first quarter. Dubuque Bank & Trust Co. now owns 1,622 shares of the CRM provider’s stock valued at $134,000 after buying an additional 1,289 shares during the period. Hemenway Trust Co LLC purchased a new stake in salesforce.com, inc. during the fourth quarter valued at $137,000. Finally, Harfst & Associates Inc. purchased a new stake in salesforce.com, inc. during the first quarter valued at $141,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.
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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