Robert W. Baird reaffirmed their outperform rating on shares of salesforce.com, inc. (NYSE:CRM) in a research report released on Saturday morning. Robert W. Baird currently has a $90.00 price objective on the CRM provider’s stock.
Several other research firms have also recently issued reports on CRM. Vetr cut shares of salesforce.com, inc. from a strong-buy rating to a buy rating and set a $93.31 price objective for the company. in a research report on Wednesday, March 1st. Societe Generale set a $98.00 price target on shares of salesforce.com, inc. and gave the company a buy rating in a research report on Thursday, March 2nd. Wells Fargo & Co reissued an outperform rating and issued a $102.50 price target on shares of salesforce.com, inc. in a research report on Thursday, March 2nd. DA Davidson reissued a neutral rating and issued a $88.00 price target (up from $80.00) on shares of salesforce.com, inc. in a research report on Saturday, March 11th. Finally, Pacific Crest set a $95.00 price target on shares of salesforce.com, inc. and gave the company a buy rating in a research report on Wednesday, March 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have given a buy rating to the stock. salesforce.com, inc. has an average rating of Buy and an average target price of $94.02.
salesforce.com, inc. (NYSE:CRM) traded down 0.31% during midday trading on Friday, reaching $83.79. The company’s stock had a trading volume of 2,946,068 shares. The company’s 50-day moving average is $83.10 and its 200 day moving average is $76.92. The firm has a market cap of $59.28 billion, a price-to-earnings ratio of 322.27 and a beta of 1.42. salesforce.com, inc. has a 12-month low of $66.43 and a 12-month high of $86.42.
salesforce.com, inc. (NYSE:CRM) last released its quarterly earnings data on Tuesday, February 28th. The CRM provider reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.23. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. salesforce.com, inc. had a return on equity of 2.40% and a net margin of 2.60%. salesforce.com, inc.’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. Equities analysts forecast that salesforce.com, inc. will post $1.29 earnings per share for the current year.
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In related news, Chairman Marc Benioff sold 10,000 shares of salesforce.com, inc. stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $83.93, for a total value of $839,300.00. Following the sale, the chairman now directly owns 34,195,300 shares in the company, valued at approximately $2,870,011,529. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Susan Wojcicki acquired 1,256 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The stock was purchased at an average price of $79.61 per share, for a total transaction of $99,990.16. Following the completion of the transaction, the director now owns 22,612 shares in the company, valued at $1,800,141.32. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 3,689 shares of company stock worth $299,951 and sold 1,130,476 shares worth $91,938,815. Company insiders own 6.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CRM. JNBA Financial Advisors boosted its position 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 last quarter. Hemenway Trust Co LLC acquired a new position in shares of salesforce.com, inc. during the fourth quarter valued at about $137,000. Global X Management Co. LLC boosted its position in shares of 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 in the last quarter. Alpha Omega Wealth Management LLC acquired a new position in shares of salesforce.com, inc. during the third quarter valued at about $150,000. Finally, Pinnacle Bank acquired a new position in shares of salesforce.com, inc. during the first quarter valued at about $181,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.
salesforce.com, inc. 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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