Trading Report: The Jefferies Group Reaffirms “Hold” Rating for Salesforce.com Inc. (CRM)

The Jefferies Group Reaffirms “Hold” Rating for Salesforce.com Inc. (CRM)

Jefferies Group reissued their hold rating on shares of Salesforce.com Inc. (NYSE:CRM) in a report released on Wednesday morning. The firm currently has a $80.00 target price on the CRM provider’s stock.

A number of other equities analysts have also recently commented on CRM. DA Davidson set a $86.00 target price on Salesforce.com and gave the company a hold rating in a report on Sunday, September 11th. FBN Securities set a $90.00 target price on Salesforce.com and gave the company a buy rating in a report on Sunday, September 4th. Raymond James Financial Inc. set a $105.00 target price on Salesforce.com and gave the company a buy rating in a report on Sunday, September 4th. Morgan Stanley restated a buy rating on shares of Salesforce.com in a report on Tuesday, June 28th. Finally, Citigroup Inc. lowered their target price on Salesforce.com from $97.00 to $94.00 and set a buy rating for the company in a report on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-four have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $92.56.

Salesforce.com (NYSE:CRM) opened at 70.91 on Wednesday. Salesforce.com has a 12-month low of $52.60 and a 12-month high of $84.48. The stock’s 50 day moving average is $74.35 and its 200 day moving average is $77.70. The firm 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 announced its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The company earned $2.04 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the business posted $0.19 EPS. Salesforce.com’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, equities research analysts expect that Salesforce.com will post $0.95 EPS for the current year.

In other news, insider Keith Block sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $82.68, for a total transaction of $826,800.00. Following the sale, the insider now directly owns 10,000 shares in the company, valued at approximately $826,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 12,500 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $82.30, for a total value of $1,028,750.00. Following the sale, the chief executive officer now owns 35,383,000 shares in the company, valued at $2,912,020,900. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Signaturefd LLC boosted its stake in 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 Salesforce.com during the second quarter valued at approximately $119,000. Ropes Wealth Advisors LLC boosted its stake 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 valued at $143,000 after buying an additional 1,009 shares in the last quarter. Mycio Wealth Partners LLC boosted its stake in 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 boosted its stake in 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. Institutional investors and hedge funds own 87.23% of the company’s stock.

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