salesforce.com (NYSE:CRM) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm currently has a $113.54 price objective on the CRM provider’s stock. Vetr‘s target price suggests a potential upside of 5.47% from the company’s current price.
Several other research analysts have also issued reports on the company. BMO Capital Markets upped their target price on salesforce.com from $112.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, November 22nd. Royal Bank of Canada reaffirmed a “buy” rating on shares of salesforce.com in a research report on Thursday, November 9th. KeyCorp reaffirmed a “buy” rating and set a $108.00 target price on shares of salesforce.com in a research report on Wednesday, November 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $127.00 target price (up from $107.00) on shares of salesforce.com in a research report on Thursday, November 16th. Finally, Cowen reaffirmed a “buy” rating and set a $118.00 target price on shares of salesforce.com in a research report on Tuesday, November 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and forty-five have issued a buy rating to the stock. salesforce.com has a consensus rating of “Buy” and a consensus price target of $112.91.
Shares of salesforce.com (NYSE CRM) traded down $3.13 during midday trading on Monday, hitting $107.65. The company had a trading volume of 6,061,244 shares, compared to its average volume of 3,670,000. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The stock has a market cap of $77,760.00, a PE ratio of 10,765.00, a P/E/G ratio of 6.14 and a beta of 1.32. salesforce.com has a 1 year low of $79.35 and a 1 year high of $114.52.
salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $2.65 billion. During the same period in the prior year, the business posted $0.24 EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. analysts predict that salesforce.com will post 0.43 EPS for the current year.
In related news, insider Mark J. Hawkins sold 16,844 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $101.75, for a total transaction of $1,713,877.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $111.45, for a total value of $557,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 501,626 shares of company stock worth $54,081,206. 6.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of CRM. Ark Investment Management LLC boosted its position in salesforce.com by 38.3% during the second quarter. Ark Investment Management LLC now owns 111,279 shares of the CRM provider’s stock worth $9,637,000 after purchasing an additional 30,792 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in salesforce.com by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 731,441 shares of the CRM provider’s stock worth $63,345,000 after purchasing an additional 24,079 shares in the last quarter. People s United Financial Inc. boosted its position 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 in the last quarter. AHL Partners LLP purchased a new position in salesforce.com during the second quarter worth approximately $1,297,000. Finally, Shelton Capital Management purchased a new position in salesforce.com during the second quarter worth approximately $513,000. Institutional investors own 85.65% of the company’s stock.
salesforce.com 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.
To view Vetr’s full report, visit Vetr’s official website.
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