Salesforce.com Inc (CRM) Given Buy Rating at SunTrust Banks, Inc.
SunTrust Banks, Inc. reissued their buy rating on shares of Salesforce.com Inc (NYSE:CRM) in a research report released on Friday morning. SunTrust Banks, Inc. currently has a $114.00 target price on the CRM provider’s stock.
Other equities research analysts have also recently issued research reports about the stock. Barclays PLC lifted their price objective on shares of Salesforce.com from $101.00 to $117.00 and gave the company an overweight rating in a research report on Thursday. BMO Capital Markets boosted their price target on shares of Salesforce.com from $105.00 to $112.00 and gave the stock an outperform rating in a research report on Friday. Robert W. Baird restated a buy rating and issued a $110.00 price target (up previously from $100.00) on shares of Salesforce.com in a research report on Wednesday, August 23rd. Drexel Hamilton restated a buy rating and issued a $111.00 price target on shares of Salesforce.com in a research report on Wednesday, August 23rd. Finally, Oppenheimer Holdings, Inc. restated a buy rating and issued a $100.00 price target on shares of Salesforce.com in a research report on Thursday, August 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and forty-six have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $104.25.
Salesforce.com (CRM) traded up $0.76 during trading on Friday, hitting $102.71. 3,262,216 shares of the stock traded hands, compared to its average volume of 3,490,000. The company has a market capitalization of $73.82 billion, a PE ratio of 513.00, a P/E/G ratio of 9.78 and a beta of 1.23. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.77 and a current ratio of 0.77. Salesforce.com has a 52-week low of $66.43 and a 52-week high of $103.92.
Salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.24. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. sell-side analysts expect that Salesforce.com will post 0.4 earnings per share for the current fiscal year.
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In other news, insider Parker Harris sold 8,027 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $90.29, for a total transaction of $724,757.83. Following the transaction, the insider now owns 49,913 shares in the company, valued at approximately $4,506,644.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexandre Dayon sold 124,331 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $99.00, for a total value of $12,308,769.00. Following the transaction, the insider now owns 154,406 shares in the company, valued at approximately $15,286,194. The disclosure for this sale can be found here. In the last 90 days, insiders sold 544,173 shares of company stock worth $52,389,296. Insiders own 6.20% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Thompson Davis & CO. Inc. lifted its position in shares of Salesforce.com by 0.6% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 3,163 shares of the CRM provider’s stock valued at $274,000 after buying an additional 18 shares in the last quarter. First Personal Financial Services raised 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 purchasing an additional 25 shares during the last quarter. Appropriate Balance Financial Services Inc. raised 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 purchasing an additional 33 shares during the last quarter. Boston Private Wealth LLC raised 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 purchasing an additional 38 shares during the last quarter. Finally, Boltwood Capital Management raised its stake in Salesforce.com by 0.4% in the 2nd quarter. Boltwood Capital Management now owns 13,655 shares of the CRM provider’s stock valued at $1,182,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 86.06% 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.
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