Salesforce.com Inc (NYSE:CRM) Downgraded by Vetr Inc. to “Hold”
Salesforce.com Inc (NYSE:CRM) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday. They currently have a $93.21 price target on the CRM provider’s stock. Vetr‘s price target points to a potential upside of 3.28% from the stock’s current price.
Other equities analysts have also issued reports about the stock. Stifel Nicolaus restated a “buy” rating and issued a $105.00 price objective (up from $100.00) on shares of Salesforce.com in a report on Friday, May 19th. Drexel Hamilton reiterated a “buy” rating and set a $100.00 target price on shares of Salesforce.com in a report on Monday, May 15th. Benchmark Co. increased their target price on shares of Salesforce.com from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Zacks Investment Research upgraded shares of Salesforce.com from a “sell” rating to a “buy” rating and set a $97.00 target price on the stock in a report on Tuesday, May 9th. Finally, Mizuho reiterated a “buy” rating and set a $100.00 target price (up from $95.00) on shares of Salesforce.com in a report on Friday, May 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirty-nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $97.31.
Salesforce.com (NYSE:CRM) opened at 90.25 on Tuesday. The stock’s 50 day moving average is $89.23 and its 200-day moving average is $85.86. Salesforce.com has a 12 month low of $66.43 and a 12 month high of $92.13. The stock has a market capitalization of $64.28 billion, a price-to-earnings ratio of 477.51 and a beta of 1.29.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Thursday, May 18th. The CRM provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. Salesforce.com had a net margin of 1.49% and a return on equity of 1.80%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business posted $0.24 EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities research analysts expect that Salesforce.com will post $1.30 earnings per share for the current year.
In related news, insider Maria Martinez sold 10,000 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $92.00, for a total value of $920,000.00. Following the sale, the insider now directly owns 30,907 shares of the company’s stock, valued at $2,843,444. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 8,027 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $90.29, for a total transaction of $724,757.83. Following the completion of the sale, the insider now directly owns 49,913 shares in the company, valued at $4,506,644.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,365,109 shares of company stock worth $122,750,079. Corporate insiders own 6.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV raised its stake in Salesforce.com by 16.9% in the first quarter. KBC Group NV now owns 521,167 shares of the CRM provider’s stock valued at $42,991,000 after buying an additional 75,430 shares during the last quarter. Gilbert & Cook Inc. acquired a new stake in Salesforce.com during the second quarter valued at $251,000. Compton Capital Management Inc. RI acquired a new stake in Salesforce.com during the first quarter valued at $436,000. Shell Asset Management Co. raised its stake in Salesforce.com by 0.7% in the first quarter. Shell Asset Management Co. now owns 72,793 shares of the CRM provider’s stock valued at $6,005,000 after buying an additional 497 shares during the last quarter. Finally, 1st Global Advisors Inc. raised its stake in Salesforce.com by 35.1% in the first quarter. 1st Global Advisors Inc. now owns 15,029 shares of the CRM provider’s stock valued at $1,240,000 after buying an additional 3,903 shares during the last quarter. Hedge funds and other institutional investors own 86.29% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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