JMP Securities reissued their buy rating on shares of Salesforce.com Inc. (NYSE:CRM) in a report published on Monday. The brokerage currently has a $92.00 price target on the CRM provider’s stock.
A number of other research analysts have also recently issued reports on the company. Bank of America Corp. reissued a buy rating and set a $70.52 price objective (down from $100.00) on shares of Salesforce.com in a report on Wednesday, October 5th. Vetr raised Salesforce.com from a hold rating to a buy rating in a report on Friday, September 23rd. Morgan Stanley cut their price objective on Salesforce.com from $110.00 to $94.00 and set an overweight rating for the company in a report on Monday, July 25th. Piper Jaffray Cos. reissued an overweight rating and set a $100.00 price objective on shares of Salesforce.com in a report on Monday, August 15th. Finally, Mizuho lifted their price objective on Salesforce.com from $85.00 to $100.00 and gave the company a buy rating in a report on Thursday, September 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and forty-five have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $92.51.
Shares of Salesforce.com (NYSE:CRM) opened at 70.63 on Monday. The firm has a market capitalization of $48.38 billion, a P/E ratio of 217.99 and a beta of 1.59. The firm has a 50-day moving average of $73.77 and a 200-day moving average of $77.67. Salesforce.com has a one year low of $52.60 and a one year high of $84.48.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. The company earned $2.04 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The business’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the business earned $0.19 earnings per share. On average, equities analysts predict that Salesforce.com will post $0.95 earnings per share for the current fiscal year.
In other news, CEO Marc Benioff sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $81.75, for a total value of $1,021,875.00. Following the transaction, the chief executive officer now owns 35,383,000 shares in the company, valued at $2,892,560,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $81.39, for a total value of $406,950.00. Following the completion of the transaction, the insider now owns 37,620 shares in the company, valued at approximately $3,061,891.80. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. raised its position in Salesforce.com by 1.3% in the second quarter. Cullen Frost Bankers Inc. now owns 206,019 shares of the CRM provider’s stock worth $16,360,000 after buying an additional 2,648 shares in the last quarter. Bank of Montreal Can bought a new position in Salesforce.com during the second quarter worth $31,592,000. Soroban Capital Partners LP bought a new position in Salesforce.com during the first quarter worth $290,380,000. Tybourne Capital Management HK Ltd. bought a new position in Salesforce.com during the first quarter worth $72,518,000. Finally, Thrax Management LLC raised its position in Salesforce.com by 42.5% in the first quarter. Thrax Management LLC now owns 401,562 shares of the CRM provider’s stock worth $29,647,000 after buying an additional 119,731 shares in the last quarter. Institutional investors own 87.23% of the company’s stock.