Salesforce.com Inc (NYSE:CRM) – Investment analysts at Jefferies Group increased their FY2018 earnings per share estimates for Salesforce.com in a report issued on Wednesday, according to Zacks Investment Research. Jefferies Group analyst J. Difucci now forecasts that the CRM provider will earn $0.43 per share for the year, up from their previous estimate of $0.41. Jefferies Group currently has a “Neutral” rating and a $97.00 target price on the stock. Jefferies Group also issued estimates for Salesforce.com’s Q4 2018 earnings at $0.11 EPS.
A number of other research analysts also recently weighed in on CRM. Vetr downgraded Salesforce.com from a “buy” rating to a “hold” rating and set a $93.21 price target for the company. in a research note on Tuesday, August 15th. Rosenblatt Securities reiterated a “buy” rating and set a $115.00 target price on shares of Salesforce.com in a research note on Wednesday, August 23rd. Northland Securities reiterated a “buy” rating and set a $105.00 target price on shares of Salesforce.com in a research note on Wednesday, August 23rd. BTIG Research reiterated a “buy” rating and set a $100.00 target price on shares of Salesforce.com in a research note on Wednesday, August 23rd. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Salesforce.com in a research note on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and forty-four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $112.48.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.65 billion. Salesforce.com had a return on equity of 2.81% and a net margin of 0.09%. The business’s revenue was up 25.0% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share.
In other news, CFO Mark J. Hawkins sold 4,906 shares of the business’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $94.79, for a total transaction of $465,039.74. Following the completion of the transaction, the chief financial officer now owns 20,186 shares of the company’s stock, valued at approximately $1,913,430.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Joe Allanson sold 622 shares of the business’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $106.77, for a total value of $66,410.94. Following the transaction, the chief accounting officer now directly owns 29,062 shares of the company’s stock, valued at approximately $3,102,949.74. The disclosure for this sale can be found here. Insiders sold a total of 670,072 shares of company stock valued at $68,439,414 over the last ninety days. Insiders own 6.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Capital Analysts LLC raised its holdings in shares of Salesforce.com by 14.1% during the 2nd quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $110,000 after buying an additional 156 shares in the last quarter. Peddock Capital Advisors LLC increased its holdings in Salesforce.com by 3,000.0% in the 2nd quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock worth $121,000 after purchasing an additional 1,350 shares in the last quarter. People s United Financial Inc. increased its holdings in Salesforce.com by 60.1% in the 2nd quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock worth $127,000 after purchasing an additional 550 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Salesforce.com in the 2nd quarter worth about $130,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in Salesforce.com by 204.3% in the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,400 shares of the CRM provider’s stock worth $131,000 after purchasing an additional 940 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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