The Salesforce.com Inc. (CRM) Given “Outperform” Rating at Cowen and Company

The Salesforce.com Inc. (CRM) Given “Outperform” Rating at Cowen and Company

Salesforce.com Inc. (NYSE:CRM)‘s stock had its “outperform” rating reiterated by stock analysts at Cowen and Company in a research report issued to clients and investors on Wednesday. They currently have a $100.00 price objective on the CRM provider’s stock. Cowen and Company’s target price would indicate a potential upside of 38.08% from the stock’s previous close.

Several other research analysts also recently weighed in on CRM. SunTrust Banks Inc. reissued a “buy” rating and issued a $98.00 target price on shares of Salesforce.com in a research report on Tuesday, June 14th. BMO Capital Markets started coverage on shares of Salesforce.com in a research report on Tuesday, June 14th. They issued an “outperform” rating and a $98.00 target price on the stock. Vetr raised shares of Salesforce.com from a “strong sell” rating to a “strong-buy” rating and set a $97.12 target price on the stock in a research report on Tuesday, June 14th. Brean Capital reissued a “buy” rating and issued a $110.00 target price on shares of Salesforce.com in a research report on Saturday, June 25th. Finally, JMP Securities reissued an “outperform” rating and issued a $92.00 target price on shares of Salesforce.com in a research report on Sunday, June 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and forty-four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $92.56.

Shares of Salesforce.com (NYSE:CRM) traded up 0.0920% during trading on Wednesday, hitting $72.4866. 3,782,754 shares of the company traded hands. The firm has a 50 day moving average price of $74.14 and a 200-day moving average price of $77.76. The stock has a market cap of $49.65 billion, a price-to-earnings ratio of 223.7241 and a beta of 1.59. Salesforce.com has a one year low of $52.60 and a one year high of $84.48.

Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The business’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. Analysts predict that Salesforce.com will post $0.95 EPS for the current year.

In other Salesforce.com news, Director Craig Conway sold 400 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $81.86, for a total transaction of $32,744.00. Following the completion of the sale, the director now owns 9,268 shares of the company’s stock, valued at approximately $758,678.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 12,500 shares of the firm’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $81.67, for a total value of $1,020,875.00. Following the sale, the chief executive officer now directly owns 35,383,000 shares of the company’s stock, valued at approximately $2,889,729,610. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Signaturefd LLC increased its stake in shares of Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock valued at $107,000 after buying an additional 693 shares in the last quarter. M&R Capital Management Inc. acquired a new stake in shares of Salesforce.com during the second quarter valued at about $119,000. Ropes Wealth Advisors LLC increased its stake in shares of Salesforce.com by 128.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider’s stock valued at $143,000 after buying an additional 1,009 shares in the last quarter. Mycio Wealth Partners LLC increased its stake in shares of Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock valued at $149,000 after buying an additional 44 shares in the last quarter. Finally, Trust Co. of Vermont increased its stake in shares of Salesforce.com by 123.8% in the second quarter. Trust Co. of Vermont now owns 1,936 shares of the CRM provider’s stock valued at $154,000 after buying an additional 1,071 shares in the last quarter. 87.23% of the stock is owned by institutional investors and hedge funds.

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