Salesforce.com (NYSE:CRM) received a $122.00 price target from stock analysts at Goldman Sachs Group in a research report issued to clients and investors on Thursday, November 23rd. The firm presently has a “buy” rating on the CRM provider’s stock. Goldman Sachs Group’s price target would suggest a potential upside of 21.16% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Robert W. Baird reissued a “buy” rating and set a $110.00 price target (up from $100.00) on shares of Salesforce.com in a report on Wednesday, August 23rd. Drexel Hamilton restated a “buy” rating and set a $111.00 price objective on shares of Salesforce.com in a research report on Wednesday, August 23rd. Oppenheimer restated a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Thursday, August 24th. UBS reaffirmed a “buy” rating and issued a $100.00 price target on shares of Salesforce.com in a report on Thursday, August 24th. Finally, Vetr downgraded shares of Salesforce.com from a “buy” rating to a “hold” rating and set a $93.21 price target for the company. in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and forty-four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $112.48.
Salesforce.com (NYSE CRM) opened at $100.69 on Thursday. The stock has a market capitalization of $72,121.66, a P/E ratio of 312.03, a P/E/G ratio of 9.38 and a beta of 1.24. Salesforce.com has a 12-month low of $68.23 and a 12-month high of $109.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82.
Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Salesforce.com had a return on equity of 2.81% and a net margin of 0.09%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. equities analysts anticipate that Salesforce.com will post 0.43 earnings per share for the current fiscal year.
In other Salesforce.com news, CAO Joe Allanson sold 622 shares of Salesforce.com stock in a transaction on Friday, November 24th. The shares were sold at an average price of $106.77, for a total value of $66,410.94. Following the transaction, the chief accounting officer now directly owns 29,062 shares of the company’s stock, valued at $3,102,949.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 8,027 shares of Salesforce.com stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $96.57, for a total transaction of $775,167.39. Following the completion of the transaction, the insider now directly owns 51,572 shares in the company, valued at $4,980,308.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 670,072 shares of company stock worth $68,439,414. 6.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Vanguard Group Inc. raised its position in Salesforce.com by 5.2% during the second quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock worth $3,996,548,000 after acquiring an additional 2,268,623 shares during the last quarter. Jennison Associates LLC increased its position in shares of Salesforce.com by 17.0% during the 2nd quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock worth $1,629,796,000 after purchasing an additional 2,740,329 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Salesforce.com by 5.3% during the 3rd quarter. Janus Henderson Group PLC now owns 13,435,212 shares of the CRM provider’s stock worth $1,255,082,000 after purchasing an additional 675,471 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Salesforce.com by 6.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 9,344,787 shares of the CRM provider’s stock worth $809,259,000 after purchasing an additional 592,409 shares during the last quarter. Finally, Winslow Capital Management LLC increased its position in shares of Salesforce.com by 12.0% during the 2nd quarter. Winslow Capital Management LLC now owns 6,266,919 shares of the CRM provider’s stock worth $542,715,000 after purchasing an additional 670,197 shares during the last quarter. 85.75% of the stock is currently owned by institutional investors and hedge funds.
Salesforce.com Company Profile
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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