Trade Report: The DA Davidson Weighs in on Salesforce.com Inc.’s FY2017 Earnings (CRM)

The DA Davidson Weighs in on Salesforce.com Inc.’s FY2017 Earnings (CRM)

Salesforce.com Inc. (NYSE:CRM) – Equities research analysts at DA Davidson lifted their FY2017 earnings estimates for Salesforce.com in a report issued on Tuesday. DA Davidson analyst J. Andrews now anticipates that the brokerage will post earnings of $0.31 per share for the year, up from their previous estimate of $0.30. DA Davidson has a “Neutral” rating and a $80.00 price objective on the stock.

A number of other brokerages also recently issued reports on CRM. Morgan Stanley reissued an “overweight” rating and set a $107.00 price objective on shares of Salesforce.com in a research report on Monday, September 26th. Royal Bank Of Canada lowered their target price on Salesforce.com from $91.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, September 1st. BMO Capital Markets started coverage on Salesforce.com in a report on Tuesday, June 14th. They set an “outperform” rating and a $98.00 target price for the company. Wedbush restated an “outperform” rating and set a $96.00 target price (down from $98.00) on shares of Salesforce.com in a report on Thursday, September 1st. Finally, Cowen and Company started coverage on Salesforce.com in a report on Friday, June 24th. They set an “outperform” rating and a $79.39 target price for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and forty-four have given a buy rating to the stock. Salesforce.com currently has a consensus rating of “Buy” and an average price target of $92.56.

Salesforce.com (NYSE:CRM) traded down 0.49% during trading on Thursday, hitting $70.91. 6,707,404 shares of the stock traded hands. Salesforce.com has a 12 month low of $52.60 and a 12 month high of $84.48. The company’s 50 day moving average price is $74.35 and its 200 day moving average price is $77.70. The company has a market cap of $48.57 billion, a P/E ratio of 218.86 and a beta of 1.59.

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

In related news, insider Alexandre Dayon sold 2,158 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $73.82, for a total value of $159,303.56. Following the sale, the insider now directly owns 17,454 shares in the company, valued at approximately $1,288,454.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Amy E. Weaver sold 2,722 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $82.20, for a total value of $223,748.40. Following the completion of the sale, the executive vice president now owns 15,678 shares in the company, valued at $1,288,731.60. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Salesforce.com by 3.1% in the second quarter. Vanguard Group Inc. now owns 39,426,135 shares of the CRM provider’s stock valued at $3,130,829,000 after buying an additional 1,181,756 shares in the last quarter. Jennison Associates LLC boosted its stake in Salesforce.com by 0.9% in the second quarter. Jennison Associates LLC now owns 20,109,339 shares of the CRM provider’s stock valued at $1,596,883,000 after buying an additional 183,663 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Salesforce.com by 0.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 16,394,124 shares of the CRM provider’s stock valued at $1,301,857,000 after buying an additional 127,481 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Salesforce.com by 4.5% in the second quarter. Ameriprise Financial Inc. now owns 8,227,065 shares of the CRM provider’s stock valued at $653,308,000 after buying an additional 353,274 shares during the period. Finally, Baillie Gifford & Co. boosted its position in shares of Salesforce.com by 0.7% in the second quarter. Baillie Gifford & Co. now owns 6,981,936 shares of the CRM provider’s stock valued at $554,435,000 after buying an additional 47,955 shares during the period. Hedge funds and other institutional investors own 87.23% of the company’s stock.

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