CRM has been the subject of a number of other reports. Credit Suisse Group began coverage on Salesforce.com in a report on Tuesday, August 1st. They issued an outperform rating and a $110.00 price target for the company. Zacks Investment Research raised Salesforce.com from a hold rating to a buy rating and set a $102.00 price target for the company in a report on Monday, August 21st. Wells Fargo & Company reaffirmed a buy rating and issued a $100.00 price target on shares of Salesforce.com in a report on Thursday, August 24th. BNP Paribas reaffirmed a buy rating and issued a $95.00 price target on shares of Salesforce.com in a report on Friday, August 25th. Finally, JMP Securities reaffirmed a buy rating and issued a $95.00 price target on shares of Salesforce.com in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty-seven have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $102.28.
Salesforce.com (CRM) opened at 96.43 on Friday. Salesforce.com has a one year low of $66.43 and a one year high of $97.52. The company’s market capitalization is $69.30 billion. The firm’s 50-day moving average is $92.04 and its 200 day moving average is $87.54.
Salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.24. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was up 25.7% compared to the same quarter last year. On average, equities analysts expect that Salesforce.com will post $1.32 EPS for the current fiscal year.
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In related news, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $87.34, for a total transaction of $873,400.00. Following the transaction, the chairman now directly owns 34,195,300 shares of the company’s stock, valued at $2,986,617,502. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 8,027 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $87.27, for a total value of $700,516.29. Following the transaction, the insider now directly owns 49,913 shares in the company, valued at $4,355,907.51. The disclosure for this sale can be found here. Insiders have sold 692,105 shares of company stock worth $62,193,091 over the last ninety days. 6.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Salesforce.com by 5.2% in 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 purchasing an additional 2,268,623 shares in the last quarter. Jennison Associates LLC grew its stake in Salesforce.com by 17.0% in 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 purchasing an additional 2,740,329 shares in the last quarter. Janus Henderson Group PLC grew its stake in Salesforce.com by 911.7% in 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 purchasing an additional 11,498,509 shares in the last quarter. Janus Capital Management LLC grew its stake in Salesforce.com by 21.6% in the first quarter. Janus Capital Management LLC now owns 10,755,181 shares of the CRM provider’s stock valued at $927,363,000 after purchasing an additional 1,910,921 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in Salesforce.com by 6.8% in 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 purchasing an additional 592,409 shares in the last quarter. Hedge funds and other institutional investors own 86.98% 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.
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