Salesforce.com Inc (CRM) Receives Buy Rating from Royal Bank Of Canada
A number of other research firms have also recently issued reports on CRM. UBS AG assumed coverage on Salesforce.com in a report on Thursday. They issued a buy rating for the company. Deutsche Bank AG upped their price objective on Salesforce.com from $105.00 to $115.00 and gave the stock a buy rating in a report on Wednesday, November 8th. Bank of America Corporation upped their price objective on Salesforce.com from $114.00 to $125.00 and gave the stock a buy rating in a report on Wednesday, November 8th. Wedbush reiterated an outperform rating and issued a $108.00 price objective on shares of Salesforce.com in a report on Wednesday, November 8th. Finally, J P Morgan Chase & Co set a $120.00 price objective on Salesforce.com and gave the stock a buy rating in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and forty-six have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $107.37.
Salesforce.com (NYSE CRM) traded up $1.64 on Thursday, hitting $105.24. The stock had a trading volume of 4,675,700 shares, compared to its average volume of 4,364,057. Salesforce.com has a 1 year low of $66.43 and a 1 year high of $105.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market cap of $75,635.98, a PE ratio of 526.20, a P/E/G ratio of 10.44 and a beta of 1.24.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the business earned $0.24 EPS. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. research analysts expect that Salesforce.com will post 0.4 EPS for the current fiscal year.
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In related news, insider Alexandre Dayon sold 124,331 shares of the business’s 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 completion of the transaction, the insider now owns 154,406 shares of the company’s stock, valued at $15,286,194. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 8,027 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $90.76, for a total transaction of $728,530.52. Following the completion of the transaction, the insider now directly owns 49,913 shares of the company’s stock, valued at approximately $4,530,103.88. The disclosure for this sale can be found here. Insiders have sold 523,944 shares of company stock valued at $50,782,964 in the last 90 days. Company insiders own 6.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Salesforce.com by 5.2% during the second quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock valued at $3,996,548,000 after buying an additional 2,268,623 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Salesforce.com by 17.0% during the second quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock valued at $1,629,796,000 after buying an additional 2,740,329 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Salesforce.com by 911.7% during the second quarter. Janus Henderson Group PLC now owns 12,759,741 shares of the CRM provider’s stock valued at $1,104,945,000 after buying an additional 11,498,509 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Salesforce.com by 6.8% during the second quarter. TIAA CREF Investment Management LLC now owns 9,344,787 shares of the CRM provider’s stock valued at $809,259,000 after buying an additional 592,409 shares during the last quarter. Finally, Winslow Capital Management LLC grew its holdings in shares of Salesforce.com by 12.0% during the second quarter. Winslow Capital Management LLC now owns 6,266,919 shares of the CRM provider’s stock valued at $542,715,000 after buying an additional 670,197 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other 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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