Vetr Upgrades Salesforce.com (CRM) to “Buy”
Salesforce.com (NYSE:CRM) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $110.67 price target on the CRM provider’s stock. Vetr‘s target price would indicate a potential upside of 6.47% from the company’s current price.
CRM has been the subject of several other reports. Stephens restated an “overweight” rating and set a $107.00 price objective (up from $100.00) on shares of Salesforce.com in a research note on Thursday, August 31st. JMP Securities upgraded shares of Salesforce.com to a “positive” rating in a research note on Friday, October 6th. Northland Securities restated a “buy” rating and set a $105.00 price objective on shares of Salesforce.com in a research note on Sunday, September 10th. Royal Bank of Canada restated a “buy” rating on shares of Salesforce.com in a research note on Thursday, November 9th. Finally, BMO Capital Markets lifted their price objective on shares of Salesforce.com from $105.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and forty-five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $112.53.
Shares of Salesforce.com (CRM) opened at $103.94 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. Salesforce.com has a 12 month low of $68.23 and a 12 month high of $109.19. The company has a market cap of $75,080.00, a P/E ratio of 326.69, a price-to-earnings-growth ratio of 9.82 and a beta of 1.24.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, November 21st. The CRM provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. Salesforce.com had a net margin of 0.09% and a return on equity of 2.81%. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the business posted $0.24 EPS. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. equities research analysts predict that Salesforce.com will post 0.43 earnings per share for the current year.
In other Salesforce.com news, insider Parker Harris sold 8,026 shares of Salesforce.com stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $92.61, for a total transaction of $743,287.86. Following the sale, the insider now owns 51,571 shares of the company’s stock, valued at approximately $4,775,990.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexandre Dayon sold 124,331 shares of Salesforce.com stock in a transaction on Friday, October 20th. The stock was sold at an average price of $99.00, for a total transaction of $12,308,769.00. Following the sale, the insider now directly 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 three months, insiders sold 686,543 shares of company stock valued at $70,323,309. 6.20% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in CRM. Janus Henderson Group PLC boosted its position in shares of Salesforce.com by 911.7% during the 2nd quarter. Janus Henderson Group PLC now owns 12,759,741 shares of the CRM provider’s stock valued at $1,104,945,000 after acquiring an additional 11,498,509 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Salesforce.com by 17.0% during the 2nd quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock valued at $1,629,796,000 after acquiring an additional 2,740,329 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Salesforce.com by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock valued at $3,996,548,000 after acquiring an additional 2,268,623 shares during the last quarter. Tybourne Capital Management HK Ltd. boosted its position in shares of Salesforce.com by 76.5% during the 2nd quarter. Tybourne Capital Management HK Ltd. now owns 4,738,144 shares of the CRM provider’s stock valued at $410,323,000 after acquiring an additional 2,053,200 shares during the last quarter. Finally, Coatue Management LLC acquired a new position in shares of Salesforce.com during the 2nd quarter valued at about $94,297,000. 85.75% 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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