Evercore ISI reissued their buy rating on shares of Salesforce.com Inc (NYSE:CRM) in a research report sent to investors on Wednesday. The brokerage currently has a $110.00 price target on the CRM provider’s stock.
Other analysts also recently issued research reports about the company. Stifel Nicolaus restated a buy rating and set a $105.00 target price (up previously from $100.00) on shares of Salesforce.com in a research note on Friday, May 19th. Vetr upgraded Salesforce.com from a hold rating to a buy rating and set a $95.22 target price for the company in a research note on Monday, May 15th. Drexel Hamilton restated a buy rating and set a $100.00 target price on shares of Salesforce.com in a research note on Monday, May 15th. Benchmark Co. increased their target price on Salesforce.com from $100.00 to $110.00 and gave the company a buy rating in a research note on Monday, May 15th. Finally, Zacks Investment Research upgraded Salesforce.com from a sell rating to a buy rating and set a $97.00 target price for the company in a research note on Tuesday, May 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty-five have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $101.72.
Salesforce.com (NYSE:CRM) traded down 0.05% on Wednesday, reaching $94.10. 5,310,995 shares of the company’s stock were exchanged. Salesforce.com has a 1-year low of $66.43 and a 1-year high of $95.23. The company has a 50 day moving average price of $90.44 and a 200-day moving average price of $86.60. The company’s market capitalization is $67.00 billion.
Salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.24. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. On average, equities research analysts anticipate that Salesforce.com will post $1.31 earnings per share for the current year.
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In related news, Director Susan Wojcicki bought 1,100 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were acquired at an average price of $90.89 per share, with a total value of $99,979.00. Following the completion of the transaction, the director now owns 30,517 shares in the company, valued at $2,773,690.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Amy E. Weaver sold 1,400 shares of Salesforce.com stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $90.12, for a total value of $126,168.00. Following the completion of the sale, the insider now directly owns 17,913 shares in the company, valued at approximately $1,614,319.56. The disclosure for this sale can be found here. Insiders sold a total of 1,270,082 shares of company stock worth $114,312,463 in the last three months. Company insiders own 6.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Capital Analysts LLC boosted its position in Salesforce.com by 14.1% in the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $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 worth $121,000 after buying an additional 1,350 shares during the last quarter. 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 worth $127,000 after buying an additional 550 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Salesforce.com during the second quarter worth 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 worth $133,000 after buying an additional 112 shares during the last quarter. 86.29% of the stock is currently owned by institutional investors and hedge funds.
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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