Macquarie restated their buy rating on shares of Salesforce.com Inc (NYSE:CRM) in a research note issued to investors on Wednesday morning. They currently have a $102.00 target price on the CRM provider’s stock.
Several other research firms also recently commented on CRM. Citigroup Inc. upped their price objective on shares of Salesforce.com from $111.00 to $112.00 and gave the company a buy rating in a report on Wednesday. Barclays PLC reissued a buy rating and set a $97.00 price target (down from $100.00) on shares of Salesforce.com in a report on Wednesday. Canaccord Genuity reissued a buy rating and set a $110.00 price target (up from $100.00) on shares of Salesforce.com in a report on Wednesday. Piper Jaffray Companies reissued a buy rating and set a $110.00 price target on shares of Salesforce.com in a report on Wednesday. Finally, Royal Bank Of Canada reissued a buy rating on shares of Salesforce.com in a report on Wednesday. One 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 stock currently has a consensus rating of Buy and an average price target of $101.72.
Shares of Salesforce.com (CRM) traded down 0.05% during trading on Wednesday, hitting $94.10. The stock had a trading volume of 5,310,995 shares. The stock has a 50 day moving average of $90.44 and a 200 day moving average of $86.60. The firm’s market cap is $67.00 billion. Salesforce.com has a 52-week low of $66.43 and a 52-week high of $95.23.
Salesforce.com (NYSE:CRM) last released 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. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.52 billion. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The business’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. On average, equities analysts anticipate that Salesforce.com will post $1.31 EPS for the current year.
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In other Salesforce.com news, EVP Burke F. Norton sold 379,189 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $91.37, for a total transaction of $34,646,498.93. Following the sale, the executive vice president now owns 82,843 shares of the company’s stock, valued at $7,569,364.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 8,027 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $90.82, for a total transaction of $729,012.14. Following the sale, the insider now directly owns 49,913 shares in the company, valued at approximately $4,533,098.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,270,082 shares of company stock worth $114,312,463. 6.70% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its position in shares of Salesforce.com by 911.7% in the second quarter. Janus Henderson Group PLC now owns 12,759,741 shares of the CRM provider’s stock worth $1,104,945,000 after buying an additional 11,498,509 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Salesforce.com by 17.0% in the second quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock worth $1,629,796,000 after buying an additional 2,740,329 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Salesforce.com by 5.2% in the second quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock worth $3,996,548,000 after buying an additional 2,268,623 shares during the last quarter. Tybourne Capital Management HK Ltd. boosted its position in shares of Salesforce.com by 76.5% in the second quarter. Tybourne Capital Management HK Ltd. now owns 4,738,144 shares of the CRM provider’s stock worth $410,323,000 after buying an additional 2,053,200 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in shares of Salesforce.com by 21.6% in the first quarter. Janus Capital Management LLC now owns 10,755,181 shares of the CRM provider’s stock worth $927,363,000 after buying an additional 1,910,921 shares during the last quarter. 86.29% of the stock is currently owned by institutional investors and hedge funds.
About Salesforce.com
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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