Salesforce.com Inc. (NYSE:CRM) Given Consensus Rating of “Buy” by Analysts
Shares of Salesforce.com Inc. (NYSE:CRM) have been assigned a consensus recommendation of “Buy” from the forty-eight research firms that are presently covering the stock. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and forty-one have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $92.31.
Several equities research analysts have recently issued reports on CRM shares. Vetr upgraded shares of Salesforce.com from a “strong sell” rating to a “hold” rating and set a $82.92 price objective on the stock in a research report on Wednesday, June 1st. DA Davidson reiterated a “neutral” rating and set a $86.00 price objective on shares of Salesforce.com in a research report on Wednesday, August 31st. Royal Bank Of Canada reduced their price objective on shares of Salesforce.com from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, September 1st. BMO Capital Markets started coverage on shares of Salesforce.com in a research report on Tuesday, June 14th. They set an “outperform” rating and a $98.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $96.00 price objective (down previously from $98.00) on shares of Salesforce.com in a research report on Thursday, September 1st.
In related news, CEO Marc Benioff sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $81.25, for a total transaction of $2,031,250.00. Following the completion of the sale, the chief executive officer now directly owns 35,383,000 shares of the company’s stock, valued at approximately $2,874,868,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan Wojcicki acquired 1,356 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were acquired at an average cost of $73.71 per share, with a total value of $99,950.76. Following the completion of the transaction, the director now directly owns 14,147 shares in the company, valued at approximately $1,042,775.37. The disclosure for this purchase can be found here. 6.70% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Salesforce.com during the fourth quarter worth approximately $1,833,000. Royal London Asset Management Ltd. boosted its position in shares of Salesforce.com by 1.6% in the fourth quarter. Royal London Asset Management Ltd. now owns 214,471 shares of the CRM provider’s stock worth $16,970,000 after buying an additional 3,320 shares during the period. Reliance Trust Co. of Delaware boosted its position in shares of Salesforce.com by 40.4% in the fourth quarter. Reliance Trust Co. of Delaware now owns 22,013 shares of the CRM provider’s stock worth $1,726,000 after buying an additional 6,335 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Salesforce.com by 0.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 65,550 shares of the CRM provider’s stock worth $5,139,000 after buying an additional 300 shares during the period. Finally, Norges Bank purchased a new position in shares of Salesforce.com during the fourth quarter worth approximately $326,988,000. 87.68% of the stock is owned by hedge funds and other institutional investors.
Salesforce.com (NYSE:CRM) opened at 73.00 on Thursday. The firm has a 50-day moving average of $77.76 and a 200 day moving average of $77.80. Salesforce.com has a one year low of $52.60 and a one year high of $84.48. The company has a market capitalization of $50.01 billion, a price-to-earnings ratio of 225.31 and a beta of 1.57.
Salesforce.com (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. Equities research analysts predict that Salesforce.com will post $0.95 earnings per share for the current fiscal year.
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
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