Salesforce.com Inc (CRM) Upgraded to “Strong-Buy” by Vetr Inc.
Salesforce.com Inc (NYSE:CRM) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $96.64 price objective on the CRM provider’s stock. Vetr‘s price target points to a potential upside of 19.57% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. Rosenblatt Securities set a $90.00 price objective on Salesforce.com and gave the company a “buy” rating in a research report on Saturday, November 19th. Cowen and Company restated a “buy” rating on shares of Salesforce.com in a research report on Sunday, November 20th. Wedbush restated an “outperform” rating and issued a $98.00 price objective on shares of Salesforce.com in a research report on Thursday. DA Davidson reiterated a “neutral” rating and issued a $80.00 target price on shares of Salesforce.com in a research report on Wednesday, December 28th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $107.00 target price on shares of Salesforce.com in a research report on Wednesday, December 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $92.67.
Shares of Salesforce.com (NYSE:CRM) opened at 80.82 on Friday. The stock has a market cap of $56.31 billion, a PE ratio of 273.97 and a beta of 1.42. The firm has a 50-day moving average price of $76.82 and a 200 day moving average price of $74.91. Salesforce.com has a 12-month low of $60.33 and a 12-month high of $84.48.
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In other Salesforce.com news, Chairman Marc Benioff sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $81.31, for a total value of $1,626,200.00. Following the transaction, the chairman now directly owns 34,195,300 shares of the company’s stock, valued at approximately $2,780,419,843. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Keith Block sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $81.39, for a total transaction of $813,900.00. Following the completion of the transaction, the insider now directly owns 10,000 shares in the company, valued at $813,900. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 4,052 shares of company stock worth $299,908 and have sold 954,190 shares worth $71,227,534. 6.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc increased its stake in shares of Salesforce.com by 2.3% in the third quarter. NEXT Financial Group Inc now owns 1,754 shares of the CRM provider’s stock worth $125,000 after buying an additional 39 shares in the last quarter. JNBA Financial Advisors increased its stake in shares of Salesforce.com by 9.3% in the fourth quarter. JNBA Financial Advisors now owns 1,828 shares of the CRM provider’s stock worth $125,000 after buying an additional 155 shares in the last quarter. Mycio Wealth Partners LLC increased its stake in shares of Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock worth $149,000 after buying an additional 44 shares in the last quarter. Hemenway Trust Co LLC purchased a new stake in shares of Salesforce.com during the fourth quarter worth about $137,000. Finally, Global X Management Co. LLC increased its stake in shares of Salesforce.com by 278.4% in the third quarter. Global X Management Co. LLC now owns 2,066 shares of the CRM provider’s stock worth $147,000 after buying an additional 1,520 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.
Salesforce.com Company Profile
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
To view Vetr’s full report, visit Vetr’s official website.
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