Trade Report: Today, Salesforce.com Inc. (CRM) Receives Consensus Recommendation of “Buy” from Analysts

Today, Salesforce.com Inc. (CRM) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Salesforce.com Inc. (NYSE:CRM) have earned a consensus recommendation of “Buy” from the forty-six research firms that are presently covering the firm. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and forty-two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $91.93.

Several research analysts have recently commented on the company. Morgan Stanley restated an “overweight” rating and set a $107.00 price target on shares of Salesforce.com in a research report on Monday, September 26th. DA Davidson restated a “neutral” rating and set a $86.00 price target on shares of Salesforce.com in a research report on Wednesday, August 31st. Royal Bank Of Canada lowered their price target on Salesforce.com from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, September 1st. JMP Securities restated a “buy” rating on shares of Salesforce.com in a research report on Friday, November 18th. Finally, Wedbush restated an “outperform” rating and set a $96.00 price target (down from $98.00) on shares of Salesforce.com in a research report on Thursday, September 1st.

Shares of Salesforce.com (NYSE:CRM) traded down 0.30% on Friday, reaching $73.73. The company had a trading volume of 2,341,520 shares. Salesforce.com has a 52 week low of $52.60 and a 52 week high of $84.48. The company has a 50 day moving average of $74.03 and a 200-day moving average of $77.55. The company has a market capitalization of $50.91 billion, a P/E ratio of 249.93 and a beta of 1.55.

Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Thursday, November 17th. The CRM provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.03. The company earned $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Salesforce.com had a return on equity of 2.40% and a net margin of 2.60%. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 earnings per share. Analysts predict that Salesforce.com will post $0.98 earnings per share for the current fiscal year.

In other Salesforce.com news, insider Alexandre Dayon sold 2,158 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $73.82, for a total value of $159,303.56. Following the completion of the transaction, the insider now directly owns 17,454 shares of the company’s stock, valued at approximately $1,288,454.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Maria Martinez sold 3,335 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $79.92, for a total transaction of $266,533.20. Following the completion of the transaction, the insider now directly owns 29,352 shares of the company’s stock, valued at $2,345,811.84. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Signaturefd LLC boosted its position in Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock worth $107,000 after buying an additional 693 shares during the last quarter. M&R Capital Management Inc. purchased a new position in Salesforce.com during the second quarter worth $119,000. NEXT Financial Group Inc boosted its position in Salesforce.com by 2.3% in the third quarter. NEXT Financial Group Inc now owns 1,754 shares of the CRM provider’s stock worth $125,000 after buying an additional 39 shares during the last quarter. Ropes Wealth Advisors LLC boosted its position in Salesforce.com by 128.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider’s stock worth $143,000 after buying an additional 1,009 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position in Salesforce.com by 278.4% in the third quarter. Global X Management Co. LLC now owns 2,066 shares of the CRM provider’s stock worth $147,000 after buying an additional 1,520 shares during the last quarter. 87.22% of the stock is owned by institutional investors.

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