Salesforce.com Inc (CRM) Earns Buy Rating from SunTrust Banks, Inc.
Salesforce.com Inc (NYSE:CRM)‘s stock had its “buy” rating reissued by equities research analysts at SunTrust Banks, Inc. in a report issued on Friday. They presently have a $114.00 price target on the CRM provider’s stock. SunTrust Banks, Inc.’s target price would suggest a potential upside of 10.99% from the company’s current price.
CRM has been the topic of a number of other reports. Stephens reissued 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. JMP Securities raised Salesforce.com to a “positive” rating in a research note on Friday, October 6th. Northland Securities reaffirmed a “buy” rating and issued a $105.00 target price on shares of Salesforce.com in a report on Sunday, September 10th. Wells Fargo & Company reaffirmed a “buy” rating and issued a $100.00 target price on shares of Salesforce.com in a report on Thursday, August 24th. Finally, Zacks Investment Research lowered Salesforce.com from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Two investment 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 company’s stock. Salesforce.com presently has an average rating of “Buy” and an average price target of $104.25.
Salesforce.com (NYSE:CRM) opened at $102.71 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.08. The company has a market cap of $73.74 billion, a price-to-earnings ratio of 513.00, a P/E/G ratio of 9.78 and a beta of 1.24.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, beating 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 business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the business earned $0.24 EPS. The firm’s revenue was up 25.7% compared to the same quarter last year. equities analysts anticipate that Salesforce.com will post 0.4 EPS for the current year.
In other Salesforce.com news, Vice Chairman Keith Block sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $102.17, for a total value of $1,021,700.00. Following the sale, the insider now owns 24,154 shares in the company, valued at $2,467,814.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Marc Benioff sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $90.31, for a total value of $2,709,300.00. Following the completion of the sale, the chairman now owns 34,195,300 shares in the company, valued at approximately $3,088,177,543. The disclosure for this sale can be found here. Insiders have sold 544,173 shares of company stock worth $52,389,296 in the last quarter. 6.20% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Moreno Evelyn V increased its stake in shares of Salesforce.com by 2.6% during the third quarter. Moreno Evelyn V now owns 48,590 shares of the CRM provider’s stock worth $4,539,000 after purchasing an additional 1,242 shares during the period. Cohen Lawrence B increased its stake in shares of Salesforce.com by 4.0% during the third quarter. Cohen Lawrence B now owns 18,545 shares of the CRM provider’s stock worth $1,733,000 after purchasing an additional 715 shares during the period. Essex Financial Services Inc. increased its stake in shares of Salesforce.com by 19.2% during the third quarter. Essex Financial Services Inc. now owns 5,299 shares of the CRM provider’s stock worth $495,000 after purchasing an additional 852 shares during the period. Advantus Capital Management Inc increased its stake in shares of Salesforce.com by 2.8% during the third quarter. Advantus Capital Management Inc now owns 69,318 shares of the CRM provider’s stock worth $6,476,000 after purchasing an additional 1,873 shares during the period. Finally, Bradley Foster & Sargent Inc. CT grew its position in Salesforce.com by 94.2% during the third quarter. Bradley Foster & Sargent Inc. CT now owns 10,432 shares of the CRM provider’s stock worth $975,000 after buying an additional 5,060 shares in the last quarter. Institutional investors 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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