Salesforce.com Inc (CRM) Rating Reiterated by Citigroup Inc.
Salesforce.com Inc (NYSE:CRM)‘s stock had its “buy” rating reaffirmed by Citigroup Inc. in a research report issued on Wednesday. They presently have a $124.00 price target on the CRM provider’s stock. Citigroup Inc.’s price objective would suggest a potential upside of 16.07% from the stock’s previous close.
A number of other equities analysts also recently commented on the company. Stephens restated an “overweight” rating and issued a $107.00 target price (up from $100.00) on shares of Salesforce.com in a research note on Thursday, August 31st. Vetr downgraded Salesforce.com from a “hold” rating to a “strong sell” rating and set a $80.76 price objective for the company. in a research report on Wednesday, October 11th. BMO Capital Markets boosted their price objective on Salesforce.com from $105.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. KeyCorp reiterated a “buy” rating and set a $108.00 price objective on shares of Salesforce.com in a research report on Wednesday, November 8th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $84.00 price objective on shares of Salesforce.com in a research report on Sunday, October 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and forty-five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $112.41.
Salesforce.com (CRM) opened at $106.83 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Salesforce.com has a 52 week low of $66.43 and a 52 week high of $109.19. The company has a market capitalization of $77,163.31, a P/E ratio of 333.84, a price-to-earnings-growth ratio of 10.59 and a beta of 1.24.
Salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, November 21st. The CRM provider reported $0.39 EPS for the quarter, beating the Zacks’ 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 company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the previous year, the firm posted $0.24 earnings per share. Salesforce.com’s quarterly revenue was up 25.0% compared to the same quarter last year. equities research analysts predict that Salesforce.com will post 0.4 EPS for the current year.
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In other Salesforce.com news, insider Alexandre Dayon sold 180,748 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $109.02, for a total transaction of $19,705,146.96. Following the sale, the insider now directly owns 210,823 shares of the company’s stock, valued at approximately $22,983,923.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Amy E. Weaver sold 681 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $98.75, for a total transaction of $67,248.75. Following the sale, the insider now directly owns 1,517 shares in the company, valued at $149,803.75. The disclosure for this sale can be found here. Insiders sold 735,682 shares of company stock worth $74,020,397 in the last ninety days. 6.20% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in CRM. Capital Analysts LLC raised its stake in Salesforce.com by 14.1% during the 2nd quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock valued at $110,000 after purchasing an additional 156 shares during the period. Peddock Capital Advisors LLC raised its stake in Salesforce.com by 3,000.0% during the 2nd quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock valued at $121,000 after purchasing an additional 1,350 shares during the period. People s United Financial Inc. raised its stake in Salesforce.com by 60.1% during the 2nd quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock valued at $127,000 after purchasing an additional 550 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in Salesforce.com during the 2nd quarter valued at $130,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Salesforce.com by 204.3% during the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,400 shares of the CRM provider’s stock valued at $131,000 after purchasing an additional 940 shares during the period. 86.39% of the stock is currently owned by institutional investors.
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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