Salesforce.com Inc. (NYSE:CRM)‘s stock had its “outperform” rating reaffirmed by research analysts at Oppenheimer Holdings Inc. in a research report issued to clients and investors on Sunday. They currently have a $95.00 target price on the CRM provider’s stock. Oppenheimer Holdings Inc.’s price objective points to a potential upside of 26.45% from the stock’s current price.
A number of other equities analysts have also commented on the stock. Bank of America Corp. reiterated a “buy” rating and set a $70.52 price target (down previously from $100.00) on shares of Salesforce.com in a report on Wednesday, October 5th. Vetr upgraded shares of Salesforce.com from a “hold” rating to a “buy” rating in a report on Friday, September 23rd. Morgan Stanley lowered their target price on shares of Salesforce.com from $110.00 to $94.00 and set an “overweight” rating for the company in a research note on Monday, July 25th. Piper Jaffray Cos. reissued an “overweight” rating and set a $100.00 target price on shares of Salesforce.com in a research note on Monday, August 15th. Finally, Mizuho lifted their target price on shares of Salesforce.com from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-six have issued a buy rating to the company. Salesforce.com has an average rating of “Buy” and an average target price of $92.19.
Salesforce.com (NYSE:CRM) opened at 75.13 on Friday. The stock’s 50 day moving average is $72.79 and its 200-day moving average is $77.64. Salesforce.com has a 1-year low of $52.60 and a 1-year high of $84.48. The firm has a market capitalization of $51.46 billion, a P/E ratio of 231.88 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. Salesforce.com’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. Analysts forecast that Salesforce.com will post $0.95 EPS for the current year.
In other Salesforce.com news, Director Susan Wojcicki acquired 1,356 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was purchased at an average cost of $73.71 per share, with a total value of $99,950.76. Following the transaction, the director now owns 14,147 shares of the company’s stock, valued at $1,042,775.37. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Marc Benioff sold 37,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $81.64, for a total value of $3,061,500.00. Following the sale, the chairman now directly owns 35,383,000 shares of the company’s stock, valued at $2,888,668,120. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of Salesforce.com by 0.5% in the second quarter. Brighton Jones LLC now owns 4,270 shares of the CRM provider’s stock worth $339,000 after buying an additional 22 shares during the last quarter. Hollencrest Securities LLC increased its stake in shares of Salesforce.com by 0.9% in the second quarter. Hollencrest Securities LLC now owns 3,229 shares of the CRM provider’s stock worth $256,000 after buying an additional 29 shares during the last quarter. Cornerstone Advisors Inc. increased its stake in shares of Salesforce.com by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,552 shares of the CRM provider’s stock worth $282,000 after buying an additional 35 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in shares of Salesforce.com by 1.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock worth $225,000 after buying an additional 37 shares during the last quarter. Finally, Fulton Bank N.A. increased its stake in shares of Salesforce.com by 0.3% in the second quarter. Fulton Bank N.A. now owns 12,763 shares of the CRM provider’s stock worth $1,014,000 after buying an additional 38 shares during the last quarter. 87.03% of the stock is owned by hedge funds and other institutional investors.
Salesforce.com Company Profile