Salesforce.com Inc (CRM) Receives Buy Rating from Drexel Hamilton
Drexel Hamilton reiterated their buy rating on shares of Salesforce.com Inc (NYSE:CRM) in a report released on Tuesday morning. They currently have a $120.00 price objective on the CRM provider’s stock.
Several other equities analysts have also recently issued reports on CRM. Royal Bank Of Canada reissued a buy rating and issued a $102.00 price objective on shares of Salesforce.com in a report on Monday, July 31st. Credit Suisse Group started coverage on Salesforce.com in a report on Tuesday, August 1st. They issued an outperform rating and a $110.00 price objective for the company. Vetr cut Salesforce.com from a buy rating to a hold rating and set a $93.21 price objective for the company. in a report on Wednesday, August 9th. Zacks Investment Research raised Salesforce.com from a hold rating to a buy rating and set a $102.00 price objective for the company in a report on Monday, August 21st. Finally, Roth Capital reissued a buy rating and issued a $112.00 price objective (up previously from $103.00) on shares of Salesforce.com in a report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and forty-five have issued a buy rating to the company. Salesforce.com currently has an average rating of Buy and an average price target of $112.41.
Salesforce.com (NYSE CRM) opened at $107.15 on Tuesday. The stock has a market capitalization of $77,163.31, a PE ratio of 333.84, a PEG ratio of 10.59 and a beta of 1.24. 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 fifty-two week low of $66.43 and a fifty-two week high of $109.19.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Salesforce.com had a return on equity of 2.81% and a net margin of 0.09%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. sell-side analysts expect that Salesforce.com will post 0.4 earnings per share for the current year.
In other news, insider Parker Harris sold 8,026 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $92.61, for a total value of $743,287.86. Following the completion of the sale, the insider now directly owns 51,571 shares in the company, valued at $4,775,990.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexandre Dayon sold 180,748 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $109.02, for a total value of $19,705,146.96. Following the completion of the sale, the insider now owns 210,823 shares of the company’s stock, valued at $22,983,923.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 735,682 shares of company stock valued at $74,020,397. 6.20% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Appropriate Balance Financial Services Inc. grew its position in shares of Salesforce.com by 6.9% in the second 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 in the last quarter. Capital Analysts LLC grew its position in shares of Salesforce.com by 14.1% in the second 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 in the last quarter. Peddock Capital Advisors LLC grew its position in shares of Salesforce.com by 3,000.0% in the second 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 in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its position in shares of Salesforce.com by 204.3% in the third 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 in the last quarter. Finally, People s United Financial Inc. grew its position in shares of Salesforce.com by 60.1% in the second 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 in the last quarter. Institutional investors and hedge funds own 86.39% 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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