Salesforce.com (CRM) Downgraded to Hold at Vetr
Vetr downgraded shares of Salesforce.com (NYSE:CRM) from a buy rating to a hold rating in a research note issued to investors on Monday. The firm currently has $107.78 price target on the CRM provider’s stock.
A number of other equities research analysts have also weighed in on the stock. Stephens restated an overweight rating and issued a $107.00 target price (up previously from $100.00) on shares of Salesforce.com in a report on Thursday, August 31st. BMO Capital Markets upped their target price on shares of Salesforce.com from $112.00 to $118.00 and gave the stock an outperform rating in a report on Wednesday, November 22nd. Royal Bank of Canada restated a buy rating on shares of Salesforce.com in a report on Thursday, November 9th. KeyCorp restated a buy rating and issued a $108.00 target price on shares of Salesforce.com in a report on Wednesday, November 8th. Finally, Morgan Stanley restated an overweight rating and issued a $127.00 target price (up previously from $107.00) on shares of Salesforce.com in a report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and forty-five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $112.53.
Shares of Salesforce.com (NYSE CRM) opened at $104.24 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. Salesforce.com has a fifty-two week low of $68.23 and a fifty-two week high of $109.19. The firm has a market cap of $74,956.69, a PE ratio of 324.30, a P/E/G ratio of 9.75 and a beta of 1.24.
Salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. Salesforce.com had a net margin of 0.09% and a return on equity of 2.81%. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the prior year, the business posted $0.24 EPS. The firm’s revenue was up 25.0% compared to the same quarter last year. analysts expect that Salesforce.com will post 0.43 earnings per share for the current fiscal year.
In related news, insider Mark J. Hawkins sold 39,780 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $103.72, for a total value of $4,125,981.60. Following the completion of the transaction, the insider now directly owns 58,719 shares of the company’s stock, valued at approximately $6,090,334.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexandre Dayon sold 180,748 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $109.02, for a total transaction of $19,705,146.96. Following the completion of the transaction, the insider now directly owns 210,823 shares of the company’s stock, valued at $22,983,923.46. The disclosure for this sale can be found here. Insiders have sold a total of 686,543 shares of company stock valued at $70,323,309 over the last three months. Insiders own 6.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC lifted its stake in Salesforce.com by 23.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,700,014 shares of the CRM provider’s stock worth $158,815,000 after purchasing an additional 322,822 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Salesforce.com by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 469,967 shares of the CRM provider’s stock worth $43,904,000 after purchasing an additional 1,697 shares in the last quarter. Crestwood Advisors Group LLC purchased a new stake in Salesforce.com in the 3rd quarter worth approximately $206,000. GSA Capital Partners LLP lifted its stake in Salesforce.com by 85.3% in the 3rd quarter. GSA Capital Partners LLP now owns 8,909 shares of the CRM provider’s stock worth $832,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Wealthsource Partners LLC lifted its stake in Salesforce.com by 11.3% in the 3rd quarter. Wealthsource Partners LLC now owns 8,807 shares of the CRM provider’s stock worth $823,000 after purchasing an additional 894 shares in the last quarter. 85.75% of the stock is owned by institutional investors.
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Salesforce.com Company Profile
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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