The salesforce.com, inc.’s (CRM) “Outperform” Rating Reiterated at Wedbush

The salesforce.com, inc.’s (CRM) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of salesforce.com, inc. (NYSE:CRM) in a research note published on Wednesday morning. They currently have a $102.00 target price on the CRM provider’s stock, up from their previous target price of $98.00.

A number of other research analysts have also weighed in on the stock. Goldman Sachs Group Inc lowered shares of salesforce.com, inc. from a conviction-buy rating to a buy rating and raised their price target for the company from $79.10 to $96.00 in a research report on Wednesday, February 1st. Brean Capital reissued a buy rating and set a $110.00 price target on shares of salesforce.com, inc. in a research report on Thursday, December 15th. MKM Partners reissued a buy rating and set a $93.00 price target on shares of salesforce.com, inc. in a research report on Thursday, December 1st. Cowen and Company set a $95.00 price target on shares of salesforce.com, inc. and gave the company a buy rating in a research report on Tuesday, November 29th. Finally, Deutsche Bank AG reissued a buy rating and set a $90.00 price target on shares of salesforce.com, inc. in a research report on Tuesday, January 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-two have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $93.53.

salesforce.com, inc. (NYSE:CRM) traded down 0.3769% during mid-day trading on Wednesday, reaching $81.9101. 1,111,856 shares of the company’s stock were exchanged. The stock has a market cap of $57.42 billion, a price-to-earnings ratio of 315.0389 and a beta of 1.42. salesforce.com, inc. has a 52-week low of $66.43 and a 52-week high of $84.48. The company has a 50-day moving average of $79.72 and a 200-day moving average of $75.01.

salesforce.com, inc. (NYSE:CRM) last released its quarterly earnings results on Tuesday, February 28th. The CRM provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. salesforce.com, inc. had a net margin of 2.60% and a return on equity of 2.40%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the firm earned $0.19 earnings per share. The firm’s revenue was up 26.8% on a year-over-year basis. Equities research analysts anticipate that salesforce.com, inc. will post $1.29 earnings per share for the current year.

In other salesforce.com, inc. news, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $83.38, for a total transaction of $833,800.00. Following the transaction, the chairman now directly owns 34,195,300 shares of the company’s stock, valued at approximately $2,851,204,114. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan Wojcicki acquired 1,353 shares of salesforce.com, inc. stock in a transaction on Monday, January 9th. The shares were bought at an average cost of $73.86 per share, for a total transaction of $99,932.58. Following the completion of the transaction, the director now owns 21,356 shares in the company, valued at approximately $1,577,354.16. The disclosure for this purchase can be found here. Insiders have sold a total of 936,285 shares of company stock valued at $71,156,925 over the last quarter. 6.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wetherby Asset Management Inc. increased its position in shares of salesforce.com, inc. by 10.8% in the second quarter. Wetherby Asset Management Inc. now owns 9,529 shares of the CRM provider’s stock worth $756,000 after buying an additional 928 shares during the last quarter. Homrich & Berg bought a new position in shares of salesforce.com, inc. during the second quarter worth about $303,000. Ameritas Investment Partners Inc. increased its position in shares of salesforce.com, inc. by 1.0% in the second quarter. Ameritas Investment Partners Inc. now owns 51,185 shares of the CRM provider’s stock worth $4,064,000 after buying an additional 511 shares during the last quarter. US Bancorp DE increased its position in shares of salesforce.com, inc. by 4.1% in the second quarter. US Bancorp DE now owns 216,351 shares of the CRM provider’s stock worth $17,180,000 after buying an additional 8,514 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of salesforce.com, inc. 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 worth $1,301,857,000 after buying an additional 127,481 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

salesforce.com, inc. Company Profile

salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.

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