Salesforce.com Inc. (CRM) Stock Rating Reaffirmed by Citigroup Inc.
Salesforce.com Inc. (NYSE:CRM)‘s stock had its “buy” rating restated by Citigroup Inc. in a report released on Saturday. They presently have a $89.00 target price on the CRM provider’s stock. Citigroup Inc.’s target price would indicate a potential upside of 25.51% from the company’s current price.
Several other equities research analysts have also recently weighed in on CRM. Goldman Sachs Group Inc. restated a “buy” rating on shares of Salesforce.com in a research note on Monday, June 13th. SunTrust Banks Inc. reaffirmed a “buy” rating and set a $98.00 price target on shares of Salesforce.com in a research report on Tuesday, June 14th. BMO Capital Markets assumed coverage on Salesforce.com in a research report on Tuesday, June 14th. They set an “outperform” rating and a $98.00 price target on the stock. Vetr raised Salesforce.com from a “strong sell” rating to a “strong-buy” rating and set a $97.12 price target on the stock in a research report on Tuesday, June 14th. Finally, Cowen and Company assumed coverage on Salesforce.com in a research report on Friday, June 24th. They set an “outperform” rating and a $79.39 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and forty-four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $92.56.
Shares of Salesforce.com (NYSE:CRM) opened at 70.91 on Friday. The stock has a market cap of $48.57 billion, a price-to-earnings ratio of 218.86 and a beta of 1.59. Salesforce.com has a 52-week low of $52.60 and a 52-week high of $84.48. The firm has a 50-day moving average price of $74.35 and a 200 day moving average price of $77.70.
Salesforce.com (NYSE:CRM) last posted its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm earned $2.04 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The firm’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. Analysts expect that Salesforce.com will post $0.95 earnings per share for the current year.
In other Salesforce.com news, Director Susan Wojcicki bought 1,356 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was acquired at an average price 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 12,500 shares of the firm’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $67.76, for a total value of $847,000.00. Following the completion of the sale, the chief executive officer now directly owns 35,033,000 shares of the company’s stock, valued at approximately $2,373,836,080. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Signaturefd LLC boosted its stake in shares of 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 period. M&R Capital Management Inc. acquired a new stake in shares of Salesforce.com during the second quarter valued at approximately $119,000. Ropes Wealth Advisors LLC boosted its stake in shares of 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 period. Mycio Wealth Partners LLC boosted its stake in shares of 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 period. Finally, Trust Co. of Vermont boosted its stake in shares of 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 period. 87.23% of the stock is owned by institutional investors and hedge funds.
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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