Investment analysts at Credit Suisse Group started coverage on shares of Salesforce.com Inc (NYSE:CRM) in a research note issued on Tuesday, August 1st, MarketBeat reports. The firm set an “outperform” rating and a $110.00 price target on the CRM provider’s stock. Credit Suisse Group’s target price would indicate a potential upside of 21.20% from the company’s previous close.
Other research analysts also recently issued reports about the company. Stifel Nicolaus reissued a “buy” rating and issued a $105.00 price objective (up from $100.00) on shares of Salesforce.com in a research note on Friday, May 19th. Vetr raised 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 reissued a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Monday, May 15th. Benchmark Co. raised their price objective on Salesforce.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research report 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 report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirty-nine have issued a buy rating to the stock. Salesforce.com has a consensus rating of “Buy” and a consensus target price of $97.31.
Salesforce.com (NYSE CRM) opened at 90.76 on Tuesday. The stock’s 50 day moving average is $89.63 and its 200 day moving average is $86.11. The company has a market capitalization of $64.64 billion, a PE ratio of 480.21 and a beta of 1.29. Salesforce.com has a one year low of $66.43 and a one year high of $92.49.
Salesforce.com (NYSE:CRM) last announced its earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm posted $0.24 EPS. The business’s revenue was up 24.6% on a year-over-year basis. On average, analysts anticipate that Salesforce.com will post $1.30 earnings per share for the current fiscal year.
In other Salesforce.com news, insider Parker Harris sold 8,027 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $90.76, for a total transaction of $728,530.52. Following the completion of the sale, the insider now owns 49,913 shares of the company’s stock, valued at approximately $4,530,103.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Benioff sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $91.24, for a total transaction of $912,400.00. Following the completion of the sale, the chief executive officer now directly owns 34,195,300 shares of the company’s stock, valued at $3,119,979,172. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,333,410 shares of company stock worth $119,961,863. 6.70% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Capital Analysts LLC boosted 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 in the last quarter. Peddock Capital Advisors LLC boosted its stake in shares of 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 in the last quarter. People s United Financial Inc. boosted its stake in shares of 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 in the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in shares of Salesforce.com during the second quarter valued at $130,000. Finally, First Personal Financial Services boosted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 86.29% of the company’s stock.
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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