Salesforce.com Inc (CRM) Rating Increased to Positive at JMP Securities

JMP Securities upgraded shares of Salesforce.com Inc (NYSE:CRM) to a positive rating in a research report report published on Friday morning, The Fly reports.

Several other brokerages have also recently weighed in on CRM. J P Morgan Chase & Co reaffirmed a buy rating and issued a $95.00 price target on shares of Salesforce.com in a research report on Wednesday, August 23rd. Drexel Hamilton reaffirmed a buy rating and issued a $111.00 price target on shares of Salesforce.com in a research report on Wednesday, August 23rd. SunTrust Banks, Inc. initiated coverage on shares of Salesforce.com in a research report on Monday, June 26th. They issued a buy rating and a $110.00 price target for the company. Vetr cut shares of Salesforce.com from a strong-buy rating to a buy rating and set a $97.77 price target for the company. in a research report on Tuesday, July 11th. Finally, Deutsche Bank AG reaffirmed a buy rating and issued a $90.00 price target (down previously from $95.00) on shares of Salesforce.com in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty-five have assigned a buy rating to the company’s stock. Salesforce.com currently has a consensus rating of Buy and an average target price of $102.66.

Salesforce.com (CRM) opened at 96.27 on Friday. The stock’s market capitalization is $69.19 billion. Salesforce.com has a 12-month low of $66.43 and a 12-month high of $98.22. The stock’s 50 day moving average is $94.81 and its 200 day moving average is $89.48.

Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.24. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the company earned $0.24 EPS. The company’s revenue was up 25.7% compared to the same quarter last year. Equities analysts predict that Salesforce.com will post $1.32 earnings per share for the current fiscal year.

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In other Salesforce.com news, Vice Chairman Keith Block sold 10,000 shares of Salesforce.com stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $95.11, for a total transaction of $951,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark J. Hawkins sold 490 shares of Salesforce.com stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $93.52, for a total transaction of $45,824.80. Following the transaction, the chief financial officer now directly owns 14,886 shares in the company, valued at $1,392,138.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 508,316 shares of company stock worth $46,966,199. Insiders own 6.20% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Appropriate Balance Financial Services Inc. raised its stake in Salesforce.com by 6.9% during the second quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock worth $5,928,000 after purchasing an additional 33 shares during the period. Capital Analysts LLC raised its stake in Salesforce.com by 14.1% during the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $110,000 after purchasing an additional 156 shares during the period. Peddock Capital Advisors LLC raised its stake in Salesforce.com by 3,000.0% during the second 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 during the period. People s United Financial Inc. raised its stake in Salesforce.com by 60.1% during the second 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 during the period. Finally, Shine Investment Advisory Services Inc. purchased a new position in Salesforce.com during the second quarter worth about $130,000. 86.06% of the stock is currently owned by institutional investors.

About Salesforce.com

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.

The Fly

Analyst Recommendations for Salesforce.com (NYSE:CRM)

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