Robert W. Baird Analysts Give Salesforce.com Inc (CRM) a $110.00 Price Target
Several other equities research analysts have also recently issued reports on CRM. Piper Jaffray Companies reiterated a buy rating on shares of Salesforce.com in a report on Tuesday, September 26th. Canaccord Genuity restated a buy rating on shares of Salesforce.com in a report on Monday, September 11th. Northland Securities reissued a buy rating and issued a $105.00 price objective on shares of Salesforce.com in a report on Sunday, September 10th. Moffett Nathanson assumed coverage on shares of Salesforce.com in a research note on Wednesday, September 6th. They issued a buy rating and a $125.00 price target for the company. Finally, Stephens reiterated an overweight rating and issued a $107.00 price objective (up from $100.00) on shares of Salesforce.com in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and forty-six have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $102.62.
Shares of Salesforce.com (NYSE:CRM) opened at 95.36 on Friday. Salesforce.com has a one year low of $66.43 and a one year high of $98.22. The stock’s market capitalization is $68.54 billion. The firm’s 50-day moving average is $94.26 and its 200-day moving average is $89.07.
Salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.24. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the firm earned $0.24 EPS. The company’s quarterly revenue was up 25.7% on a year-over-year basis. Equities research analysts forecast that Salesforce.com will post $1.32 EPS for the current year.
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In other news, Director Craig Conway sold 602 shares of the company’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $94.76, for a total value of $57,045.52. Following the transaction, the director now owns 9,908 shares in the company, valued at approximately $938,882.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Keith Block sold 7,641 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $95.85, for a total transaction of $732,389.85. Following the completion of the sale, the insider now directly owns 14,718 shares of the company’s stock, valued at $1,410,720.30. The disclosure for this sale can be found here. Insiders sold a total of 546,571 shares of company stock valued at $50,256,790 over the last three months. 6.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in CRM. Thompson Davis & CO. Inc. raised its position in shares of Salesforce.com by 0.6% in the second quarter. Thompson Davis & CO. Inc. now owns 3,163 shares of the CRM provider’s stock valued at $274,000 after purchasing an additional 18 shares during the period. First Personal Financial Services grew its stake in Salesforce.com by 1.6% in the 2nd quarter. First Personal Financial Services now owns 1,636 shares of the CRM provider’s stock valued at $142,000 after buying an additional 25 shares during the last quarter. Appropriate Balance Financial Services Inc. grew its stake in Salesforce.com by 6.9% in 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 during the last quarter. Boston Private Wealth LLC grew its stake in Salesforce.com by 0.3% in the 2nd quarter. Boston Private Wealth LLC now owns 12,607 shares of the CRM provider’s stock valued at $1,092,000 after buying an additional 38 shares during the last quarter. Finally, King Luther Capital Management Corp grew its stake in Salesforce.com by 1.3% in the 1st quarter. King Luther Capital Management Corp now owns 3,233 shares of the CRM provider’s stock valued at $267,000 after buying an additional 43 shares during the last quarter. 86.06% of the stock is 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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