BMO Capital Markets Increases Salesforce.com Inc (CRM) Price Target to $112.00
Salesforce.com Inc (NYSE:CRM) had its target price upped by investment analysts at BMO Capital Markets to $112.00 in a research note issued to investors on Friday, The Fly reports. The firm presently has an “outperform” rating on the CRM provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 9.16% from the company’s previous close.
Other equities research analysts have also recently issued reports about the company. Stephens reaffirmed an “overweight” rating and issued a $107.00 price objective (up from $100.00) on shares of Salesforce.com in a research note on Thursday, August 31st. Zacks Investment Research cut Salesforce.com from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Vetr cut Salesforce.com from a “hold” rating to a “strong sell” rating and set a $80.76 price objective for the company. in a research note on Wednesday, October 11th. Moffett Nathanson initiated coverage on Salesforce.com in a research note on Wednesday, September 6th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, BNP Paribas reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Salesforce.com in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and forty-six have given a buy rating to the stock. Salesforce.com currently has a consensus rating of “Buy” and a consensus price target of $104.07.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the business posted $0.24 earnings per share. The firm’s revenue was up 25.7% compared to the same quarter last year.
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In other news, CFO Mark J. Hawkins sold 992 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $93.38, for a total transaction of $92,632.96. Following the completion of the sale, the chief financial officer now owns 16,272 shares of the company’s stock, valued at $1,519,479.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark J. Hawkins sold 490 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $93.52, for a total transaction of $45,824.80. Following the sale, the chief financial officer now directly owns 14,886 shares of the company’s stock, valued at approximately $1,392,138.72. The disclosure for this sale can be found here. Insiders sold 544,173 shares of company stock worth $52,389,296 over the last 90 days. 6.20% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CRM. Janus Henderson Group PLC boosted its holdings in Salesforce.com by 911.7% during the second quarter. Janus Henderson Group PLC now owns 12,759,741 shares of the CRM provider’s stock worth $1,104,945,000 after purchasing an additional 11,498,509 shares during the last quarter. Jennison Associates LLC boosted its holdings in Salesforce.com by 17.0% during the second quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock worth $1,629,796,000 after purchasing an additional 2,740,329 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Salesforce.com by 5.2% during the second quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock worth $3,996,548,000 after purchasing an additional 2,268,623 shares during the last quarter. Tybourne Capital Management HK Ltd. boosted its holdings in Salesforce.com by 76.5% during the second quarter. Tybourne Capital Management HK Ltd. now owns 4,738,144 shares of the CRM provider’s stock worth $410,323,000 after purchasing an additional 2,053,200 shares during the last quarter. Finally, Janus Capital Management LLC boosted its holdings in Salesforce.com by 21.6% during the first quarter. Janus Capital Management LLC now owns 10,755,181 shares of the CRM provider’s stock worth $927,363,000 after purchasing an additional 1,910,921 shares during the last quarter. Institutional investors and hedge funds own 86.06% of the company’s stock.
Salesforce.com Company Profile
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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