Salesforce.com Inc. (CRM) Receives “Hold” Rating from Jefferies Group
Jefferies Group reaffirmed their hold rating on shares of Salesforce.com Inc. (NYSE:CRM) in a research note published on Wednesday morning. The brokerage currently has a $80.00 target price on the CRM provider’s stock.
Other analysts also recently issued reports about the stock. Raymond James Financial Inc. set a $105.00 target price on shares of Salesforce.com and gave the stock a buy rating in a research report on Sunday, September 4th. FBN Securities set a $90.00 price objective on shares of Salesforce.com and gave the stock a buy rating in a report on Sunday, September 4th. DA Davidson set a $86.00 price objective on shares of Salesforce.com and gave the stock a hold rating in a report on Sunday, September 11th. Vetr downgraded shares of Salesforce.com from a buy rating to a hold rating and set a $83.58 price objective for the company. in a report on Monday, July 11th. Finally, Brean Capital reaffirmed a buy rating and set a $110.00 price objective on shares of Salesforce.com in a report on Thursday, June 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and forty-four have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $92.56.
Salesforce.com (NYSE:CRM) last posted its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The company earned $2.04 billion during 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 company’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share.
In other news, insider Parker Harris sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $70.13, for a total value of $350,650.00. Following the completion of the transaction, the insider now owns 39,467 shares of the company’s stock, valued at $2,767,820.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Marc Benioff sold 12,500 shares of the company’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $70.96, for a total value of $887,000.00. Following the completion of the transaction, the chairman now directly owns 35,033,000 shares of the company’s stock, valued at approximately $2,485,941,680. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in CRM. Triangle Securities Wealth Management acquired a new position in Salesforce.com during the third quarter worth $843,000. New England Research & Management Inc. purchased a new position in shares of Salesforce.com during the third quarter worth approximately $449,000. Boltwood Capital Management raised its position in shares of Salesforce.com by 4.2% in the third quarter. Boltwood Capital Management now owns 11,345 shares of the CRM provider’s stock worth $809,000 after buying an additional 460 shares during the last quarter. Fulton Bank N.A. raised its position in shares of Salesforce.com by 44.0% in the third quarter. Fulton Bank N.A. now owns 18,383 shares of the CRM provider’s stock worth $1,311,000 after buying an additional 5,620 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Salesforce.com by 4.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,330,380 shares of the CRM provider’s stock worth $237,556,000 after buying an additional 139,700 shares during the last quarter. 87.23% of the stock is 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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