Salesforce.com Inc. (CRM) Rating Reiterated by JMP Securities
Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating restated by stock analysts at JMP Securities in a report issued on Tuesday.
Other research analysts also recently issued research reports about the stock. SunTrust Banks Inc. reiterated a “buy” rating and issued a $98.00 target price on shares of Salesforce.com in a report on Tuesday, June 14th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Salesforce.com in a research report on Monday, June 13th. Brean Capital restated a “buy” rating and issued a $110.00 price target on shares of Salesforce.com in a research report on Thursday, June 9th. Bank of America Corp. restated a “buy” rating on shares of Salesforce.com in a research report on Wednesday, June 8th. Finally, Vetr lowered shares of Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $83.58 price target on the stock. in a research report on Monday, July 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and forty-four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $92.56.
Shares of Salesforce.com (NYSE:CRM) opened at 68.42 on Tuesday. The firm has a market cap of $46.87 billion, a price-to-earnings ratio of 211.17 and a beta of 1.59. Salesforce.com has a 1-year low of $52.60 and a 1-year high of $84.48. The company’s 50-day moving average is $74.66 and its 200 day moving average is $77.76.
Salesforce.com (NYSE:CRM) last announced its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS. On average, equities research analysts expect that Salesforce.com will post $0.95 EPS for the current fiscal year.
In other Salesforce.com news, Director Craig Conway sold 400 shares of Salesforce.com stock in a transaction on Friday, July 15th. The shares were sold at an average price of $81.86, for a total transaction of $32,744.00. Following the transaction, the director now directly owns 9,268 shares of the company’s stock, valued at approximately $758,678.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Benioff sold 50,000 shares of Salesforce.com stock in a transaction on Friday, July 8th. The stock was sold at an average price of $79.15, for a total transaction of $3,957,500.00. Following the transaction, the chief executive officer now directly owns 35,383,000 shares in the company, valued at $2,800,564,450. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Signaturefd LLC increased its position in Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock worth $107,000 after buying an additional 693 shares in the last quarter. M&R Capital Management Inc. purchased a new position in Salesforce.com during the second quarter worth about $119,000. Ropes Wealth Advisors LLC increased its position 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 worth $143,000 after buying an additional 1,009 shares in the last quarter. Mycio Wealth Partners LLC increased its position 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 worth $149,000 after buying an additional 44 shares in the last quarter. Finally, Trust Co. of Vermont increased its position 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 worth $154,000 after buying an additional 1,071 shares in the last quarter. 87.23% of the stock is currently owned by hedge funds and other institutional investors.
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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