Mizuho reaffirmed their buy rating on shares of Salesforce.com Inc (NYSE:CRM) in a research note issued to investors on Monday. They currently have a $120.00 price target on the CRM provider’s stock, up from their prior price target of $110.00.
Several other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Salesforce.com from a hold rating to a sell rating in a research report on Friday. Royal Bank Of Canada reiterated a buy rating on shares of Salesforce.com in a research report on Thursday, November 9th. UBS AG initiated coverage on shares of Salesforce.com in a research report on Thursday, November 9th. They set a buy rating for the company. Wedbush restated an outperform rating and set a $108.00 price target on shares of Salesforce.com in a research report on Wednesday, November 8th. Finally, Bank of America Corporation upped their price target on shares of Salesforce.com from $114.00 to $125.00 and gave the company a buy rating in a research report on Wednesday, November 8th. Two 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 presently has a consensus rating of Buy and an average target price of $107.37.
Shares of Salesforce.com (NYSE CRM) traded up $0.54 during trading hours on Monday, reaching $105.78. 4,609,500 shares of the company traded hands, compared to its average volume of 4,365,178. Salesforce.com has a one year low of $66.43 and a one year high of $105.96. The stock has a market capitalization of $75,635.98, a price-to-earnings ratio of 526.20, a PEG ratio of 10.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.77 and a quick ratio of 0.77.
Salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 25.7% compared to the same quarter last year. equities analysts predict that Salesforce.com will post 0.4 earnings per share for the current fiscal year.
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In other news, insider Alexandre Dayon sold 124,331 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 154,406 shares in the company, valued at approximately $15,286,194. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Keith Block sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $103.74, for a total transaction of $1,037,400.00. Following the completion of the sale, the insider now owns 24,154 shares in the company, valued at $2,505,735.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 525,667 shares of company stock worth $51,069,184. 6.20% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Synovus Financial Corp boosted its stake in shares of Salesforce.com by 10.7% during the 2nd quarter. Synovus Financial Corp now owns 22,247 shares of the CRM provider’s stock worth $1,927,000 after purchasing an additional 2,144 shares during the period. Dai Ichi Life Insurance Company Ltd boosted its stake in shares of Salesforce.com by 142.5% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 124,707 shares of the CRM provider’s stock worth $10,800,000 after purchasing an additional 73,271 shares during the period. Rosenblum Silverman Sutton S F Inc. CA boosted its stake in shares of Salesforce.com by 15.6% during the 2nd quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 60,612 shares of the CRM provider’s stock worth $5,249,000 after purchasing an additional 8,181 shares during the period. Prudential Financial Inc. boosted its stake in shares of Salesforce.com by 1.4% during the 2nd quarter. Prudential Financial Inc. now owns 911,249 shares of the CRM provider’s stock worth $78,914,000 after purchasing an additional 12,516 shares during the period. Finally, Summit Global Investments boosted its stake in shares of Salesforce.com by 85.3% during the 2nd quarter. Summit Global Investments now owns 23,394 shares of the CRM provider’s stock worth $2,026,000 after purchasing an additional 10,768 shares during the period. 86.14% of the stock is 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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