Salesforce.com Inc (CRM) Upgraded to “Positive” at JMP Securities
Salesforce.com Inc (NYSE:CRM) was upgraded by stock analysts at JMP Securities to a “positive” rating in a research report issued on Friday, The Fly reports.
Several other research firms have also recently commented on CRM. Northland Securities set a $105.00 price target on Salesforce.com and gave the company a “buy” rating in a report on Saturday, June 24th. Robert W. Baird reaffirmed a “buy” rating and issued a $110.00 price target (up previously from $100.00) on shares of Salesforce.com in a report on Wednesday, August 23rd. Drexel Hamilton reaffirmed a “buy” rating and issued a $111.00 price target on shares of Salesforce.com in a report on Wednesday, August 23rd. UBS AG reaffirmed a “buy” rating and issued a $100.00 price target on shares of Salesforce.com in a report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $100.00 price target on shares of Salesforce.com in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty-five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $102.66.
Shares of Salesforce.com (NYSE:CRM) opened at 95.73 on Friday. The company’s market cap is $68.80 billion. The firm has a 50-day moving average price of $94.50 and a 200-day moving average price of $89.17. Salesforce.com has a 1-year low of $66.43 and a 1-year high of $98.22.
Salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.24. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The business’s revenue was up 25.7% compared to the same quarter last year. On average, equities analysts expect that Salesforce.com will post $1.32 EPS for the current year.
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In related news, Vice Chairman Keith Block sold 10,000 shares of Salesforce.com stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $95.11, for a total value of $951,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 8,027 shares of Salesforce.com stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $88.22, for a total value of $708,141.94. Following the completion of the transaction, the insider now owns 49,913 shares of the company’s stock, valued at $4,403,324.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 536,343 shares of company stock valued at $49,439,541. Company insiders own 6.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CRM. Capital Analysts LLC boosted its holdings in Salesforce.com by 14.1% in the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock valued at $110,000 after purchasing an additional 156 shares during the period. Peddock Capital Advisors LLC boosted its holdings in Salesforce.com by 3,000.0% in the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock valued at $121,000 after purchasing an additional 1,350 shares during the period. People s United Financial Inc. boosted its holdings in Salesforce.com by 60.1% in the second quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock valued at $127,000 after purchasing an additional 550 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in Salesforce.com in the second quarter valued at $130,000. Finally, Harfst & Associates Inc. purchased a new position in Salesforce.com in the first quarter valued at $141,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.
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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