Salesforce.com Inc (NYSE:CRM) was downgraded by Vetr from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday. They currently have a $80.76 price target on the CRM provider’s stock. Vetr‘s price target indicates a potential downside of 15.88% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Northland Securities set a $105.00 price objective on shares of Salesforce.com and gave the company a “buy” rating in a report on Saturday, June 24th. Robert W. Baird reaffirmed a “buy” rating and set a $110.00 price objective (up from $100.00) on shares of Salesforce.com in a report on Wednesday, August 23rd. Drexel Hamilton reaffirmed a “buy” rating and set a $111.00 price objective on shares of Salesforce.com in a report on Wednesday, August 23rd. UBS AG reaffirmed a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and forty-five have given a buy rating to the stock. Salesforce.com has a consensus rating of “Buy” and an average target price of $102.40.

Salesforce.com (NYSE CRM) traded up 0.65% during trading on Wednesday, hitting $96.01. The company’s market capitalization is $69.00 billion. Salesforce.com has a 1-year low of $66.43 and a 1-year high of $98.22. The company’s 50 day moving average price is $95.00 and its 200 day moving average price is $89.62.

Salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.24. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the firm posted $0.24 EPS. The firm’s quarterly revenue was up 25.7% compared to the same quarter last year. Equities research analysts anticipate that Salesforce.com will post $1.32 EPS for the current fiscal year.

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In other Salesforce.com news, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $89.94, for a total transaction of $899,400.00. Following the sale, the chairman now owns 34,195,300 shares in the company, valued at approximately $3,075,525,282. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 8,027 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $96.57, for a total value of $775,167.39. Following the sale, the insider now owns 51,572 shares in the company, valued at approximately $4,980,308.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 506,342 shares of company stock worth $46,913,783. 6.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Salesforce.com by 5.2% in the 2nd quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock valued at $3,996,548,000 after acquiring an additional 2,268,623 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Salesforce.com by 17.0% in the 2nd quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock valued at $1,629,796,000 after acquiring an additional 2,740,329 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Salesforce.com by 911.7% in the 2nd quarter. Janus Henderson Group PLC now owns 12,759,741 shares of the CRM provider’s stock valued at $1,104,945,000 after acquiring an additional 11,498,509 shares during the last quarter. Janus Capital Management LLC increased its holdings in shares of Salesforce.com by 21.6% in the 1st quarter. Janus Capital Management LLC now owns 10,755,181 shares of the CRM provider’s stock valued at $927,363,000 after acquiring an additional 1,910,921 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Salesforce.com by 6.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 9,344,787 shares of the CRM provider’s stock valued at $809,259,000 after acquiring an additional 592,409 shares during the last quarter. Institutional investors and hedge funds own 86.06% of the company’s stock.

About Salesforce.com

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Salesforce.com (NYSE:CRM)

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