Roth Capital downgraded shares of Salesforce.com Inc (NYSE:CRM) from a buy rating to a neutral rating in a report published on Wednesday morning, Marketbeat.com reports. Roth Capital currently has $112.00 target price on the CRM provider’s stock.
Several other equities analysts also recently weighed in on the company. Stephens restated an overweight rating and set a $107.00 price target (up from $100.00) on shares of Salesforce.com in a report on Thursday, August 31st. Vetr downgraded Salesforce.com from a hold rating to a strong sell rating and set a $80.76 price target for the company. in a report on Wednesday, October 11th. KeyCorp restated a buy rating and set a $108.00 price target on shares of Salesforce.com in a report on Wednesday, November 8th. BMO Capital Markets raised their price target on Salesforce.com from $105.00 to $112.00 and gave the company an outperform rating in a report on Friday, November 3rd. Finally, Jefferies Group LLC restated a hold rating and set a $84.00 price target on shares of Salesforce.com in a report on Sunday, October 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and forty-five have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $112.41.
Salesforce.com (NYSE CRM) opened at $107.15 on Wednesday. Salesforce.com has a twelve month low of $66.43 and a twelve month high of $109.19. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $77,163.31, a price-to-earnings ratio of 333.84, a PEG ratio of 10.59 and a beta of 1.24.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. Salesforce.com had a return on equity of 2.81% and a net margin of 0.09%. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period last year, the company earned $0.24 earnings per share. The company’s revenue was up 25.0% on a year-over-year basis. sell-side analysts anticipate that Salesforce.com will post 0.4 EPS for the current fiscal year.
In other Salesforce.com news, insider Parker Harris sold 8,026 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $92.61, for a total value of $743,287.86. Following the transaction, the insider now directly owns 51,571 shares of the company’s stock, valued at $4,775,990.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Maria Martinez sold 726 shares of Salesforce.com stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $93.38, for a total value of $67,793.88. Following the transaction, the insider now directly owns 20,833 shares in the company, valued at $1,945,385.54. The disclosure for this sale can be found here. Insiders sold 735,682 shares of company stock worth $74,020,397 over the last three months. Insiders own 6.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of CRM. Gilbert & Cook Inc. purchased a new position in shares of Salesforce.com during the 2nd quarter valued at about $251,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Salesforce.com during the 2nd quarter valued at about $2,312,000. First Citizens Bank & Trust Co. purchased a new position in shares of Salesforce.com during the 2nd quarter valued at about $575,000. Jag Capital Management LLC purchased a new position in shares of Salesforce.com during the 2nd quarter valued at about $8,009,000. Finally, Appropriate Balance Financial Services Inc. lifted its position in shares of Salesforce.com by 6.9% during the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock valued at $5,928,000 after buying an additional 33 shares in the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.
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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