salesforce.com, inc. (NYSE:CRM)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research note issued to investors on Thursday.
Several other research analysts have also issued reports on CRM. Mizuho increased their price objective on salesforce.com, inc. from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, November 18th. BMO Capital Markets increased their price objective on salesforce.com, inc. from $86.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, November 18th. Goldman Sachs Group Inc set a $96.00 price objective on salesforce.com, inc. and gave the stock a “buy” rating in a research note on Friday, November 18th. BTIG Research reiterated a “buy” rating on shares of salesforce.com, inc. in a research note on Friday, November 18th. Finally, Pacific Crest reiterated a “buy” rating and set a $95.00 price objective on shares of salesforce.com, inc. in a research note on Friday, November 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. salesforce.com, inc. has an average rating of “Buy” and a consensus target price of $94.06.
Shares of salesforce.com, inc. (NYSE:CRM) opened at 83.03 on Thursday. salesforce.com, inc. has a one year low of $66.43 and a one year high of $84.48. The firm has a 50-day moving average of $81.59 and a 200-day moving average of $75.38. The firm has a market capitalization of $58.74 billion, a P/E ratio of 319.35 and a beta of 1.42.
salesforce.com, inc. (NYSE:CRM) last released its quarterly earnings data on Tuesday, February 28th. The CRM provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. salesforce.com, inc. had a return on equity of 2.40% and a net margin of 2.60%. The firm earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. On average, equities analysts predict that salesforce.com, inc. will post $1.29 earnings per share for the current fiscal year.
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In related news, Chairman Marc Benioff sold 37,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 28th. The stock was sold at an average price of $69.69, for a total transaction of $2,613,375.00. Following the transaction, the chairman now directly owns 34,195,500 shares of the company’s stock, valued at approximately $2,383,084,395. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Keith Block sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $83.73, for a total value of $837,300.00. Following the transaction, the insider now directly owns 10,000 shares in the company, valued at $837,300. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 3,833 shares of company stock worth $299,899 and have sold 938,629 shares worth $72,768,164. 6.70% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc increased its stake in salesforce.com, inc. by 2.3% in the third quarter. NEXT Financial Group Inc now owns 1,754 shares of the CRM provider’s stock valued at $125,000 after buying an additional 39 shares during the period. JNBA Financial Advisors increased its stake in salesforce.com, inc. by 9.3% in the fourth quarter. JNBA Financial Advisors now owns 1,828 shares of the CRM provider’s stock valued at $125,000 after buying an additional 155 shares during the period. Hemenway Trust Co LLC purchased a new stake in salesforce.com, inc. during the fourth quarter valued at about $137,000. Global X Management Co. LLC increased its stake in salesforce.com, inc. by 278.4% in the third quarter. Global X Management Co. LLC now owns 2,066 shares of the CRM provider’s stock valued at $147,000 after buying an additional 1,520 shares during the period. Finally, Alpha Omega Wealth Management LLC purchased a new stake in salesforce.com, inc. during the third quarter valued at about $150,000. Institutional investors and hedge funds own 83.13% of the company’s stock.
About salesforce.com, inc.
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
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