Barclays PLC restated their buy rating on shares of Salesforce.com Inc (NYSE:CRM) in a research note published on Wednesday. They currently have a $97.00 price target on the CRM provider’s stock, down from their prior price target of $100.00.
Several other brokerages also recently issued reports on CRM. Credit Suisse Group began coverage on shares of Salesforce.com in a report on Thursday, April 27th. They set an outperform rating and a $110.00 price target for the company. Benchmark Co. began coverage on shares of Salesforce.com in a report on Thursday, April 27th. They set an outperform rating and a $100.00 price target for the company. Zacks Investment Research downgraded shares of Salesforce.com from a hold rating to a sell rating in a report on Tuesday, May 2nd. Piper Jaffray Companies reissued an overweight rating and issued a $100.00 price objective on shares of Salesforce.com in a research note on Sunday, May 14th. Finally, BMO Capital Markets reduced their price objective on shares of Salesforce.com from $100.00 to $92.00 and set an outperform rating on the stock in a research note on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and forty-five have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $101.72.
Shares of Salesforce.com (NYSE:CRM) traded down 0.05% on Wednesday, hitting $94.10. The stock had a trading volume of 5,310,995 shares. The stock’s market cap is $67.00 billion. Salesforce.com has a 1-year low of $66.43 and a 1-year high of $95.23. The firm’s 50-day moving average is $90.44 and its 200 day moving average is $86.60.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.09 by $0.24. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $0.24 earnings per share. The company’s revenue was up 25.7% on a year-over-year basis. Equities analysts forecast that Salesforce.com will post $1.31 EPS for the current year.
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In other news, EVP Burke F. Norton sold 379,189 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $91.37, for a total value of $34,646,498.93. Following the sale, the executive vice president now owns 82,843 shares of the company’s stock, valued at approximately $7,569,364.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $90.83, for a total value of $908,300.00. Following the completion of the sale, the chairman now directly owns 34,195,300 shares in the company, valued at approximately $3,105,959,099. The disclosure for this sale can be found here. Insiders have sold a total of 1,270,082 shares of company stock worth $114,312,463 over the last 90 days. 6.70% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in CRM. Capital Analysts LLC increased its stake in shares of Salesforce.com by 14.1% in the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock valued at $110,000 after buying an additional 156 shares during the last quarter. Peddock Capital Advisors LLC boosted its position in Salesforce.com by 3,000.0% in the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock valued at $121,000 after buying an additional 1,350 shares during the period. People s United Financial Inc. boosted its position in Salesforce.com by 60.1% in the second quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock valued at $127,000 after buying an additional 550 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in Salesforce.com during the second quarter valued at approximately $130,000. Finally, First Personal Financial Services boosted its position in Salesforce.com by 7.5% in the first quarter. First Personal Financial Services now owns 1,611 shares of the CRM provider’s stock valued at $133,000 after buying an additional 112 shares during the period. Institutional investors own 86.29% of the company’s stock.
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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