Salesforce.com Inc. (CRM) Lifted to “Buy” at Vetr Inc.
Salesforce.com Inc. (NYSE:CRM) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Friday.
CRM has been the topic of a number of other research reports. Jefferies Group restated a “hold” rating and set a $80.00 price objective on shares of Salesforce.com in a research note on Friday, August 19th. Bank of America Corp. restated a “buy” rating and set a $77.82 price objective (down previously from $100.00) on shares of Salesforce.com in a research note on Thursday, August 25th. Stifel Nicolaus restated a “buy” rating and set a $93.00 price objective on shares of Salesforce.com in a research note on Thursday, August 25th. Macquarie reaffirmed an “outperform” rating and issued a $97.00 target price on shares of Salesforce.com in a report on Wednesday, August 31st. Finally, Morgan Stanley reduced their target price on Salesforce.com from $110.00 to $94.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and forty-two have issued a buy rating to the company’s stock. Salesforce.com currently has a consensus rating of “Buy” and a consensus target price of $92.63.
Salesforce.com (NYSE:CRM) traded down 5.4161% during midday trading on Friday, reaching $70.5501. The company had a trading volume of 12,957,319 shares. Salesforce.com has a 12-month low of $52.60 and a 12-month high of $84.48. The stock has a 50-day moving average price of $77.18 and a 200 day moving average price of $77.77. The company has a market capitalization of $48.33 billion, a PE ratio of 217.7472 and a beta of 1.57.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the company earned $0.19 EPS. The company’s revenue was up 25.0% on a year-over-year basis. Equities analysts forecast that Salesforce.com will post $0.95 EPS for the current year.
In other Salesforce.com news, CEO Marc Benioff sold 12,500 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $82.30, for a total transaction of $1,028,750.00. Following the completion of the sale, the chief executive officer now directly owns 35,383,000 shares in the company, valued at $2,912,020,900. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Keith Block sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $82.68, for a total transaction of $826,800.00. Following the sale, the insider now owns 10,000 shares of the company’s stock, valued at $826,800. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Signaturefd LLC raised its stake in Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock valued at $107,000 after buying an additional 693 shares during the last quarter. M&R Capital Management Inc. acquired a new stake in Salesforce.com during the second quarter valued at about $119,000. Ropes Wealth Advisors LLC raised its stake in Salesforce.com by 128.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider’s stock valued at $143,000 after buying an additional 1,009 shares during the last quarter. Mycio Wealth Partners LLC raised its stake in Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock valued at $149,000 after buying an additional 44 shares during the last quarter. Finally, Trust Co. of Vermont raised its stake in Salesforce.com by 123.8% in the second quarter. Trust Co. of Vermont now owns 1,936 shares of the CRM provider’s stock valued at $154,000 after buying an additional 1,071 shares during the last quarter. Institutional investors and hedge funds own 87.23% of the company’s stock.
Salesforce.com Company Profile
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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