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salesforce.com (NYSE:CRM)‘s stock had its “buy” rating reissued by investment analysts at Royal Bank of Canada in a report released on Monday, June 17th, Borsen Zeitung reports. They presently have a $181.00 target price on the CRM provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 14.50% from the company’s previous close.
Other equities research analysts have also issued reports about the company. BNP Paribas initiated coverage on Workday in a research report on Friday, March 29th. They set an “underperform” rating and a $125.00 target price for the company. Exane BNP Paribas assumed coverage on Workday in a research note on Friday, March 29th. They set an “underperform” rating for the company. JPMorgan Chase & Co. upgraded ROYAL MAIL PLC/ADR from an “underweight” rating to a “neutral” rating in a research note on Monday, June 3rd. Nomura cut their price target on Capri from $76.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Finally, Sanford C. Bernstein upgraded Zimmer Biomet from an “underperform” rating to a “market perform” rating and set a $121.71 price target for the company in a research note on Tuesday, June 11th. Three analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company. salesforce.com has a consensus rating of “Buy” and a consensus price target of $179.97.
NYSE CRM traded down $0.82 on Monday, reaching $158.08. The company had a trading volume of 4,348,041 shares, compared to its average volume of 6,008,078. The stock has a market capitalization of $122.67 billion, a PE ratio of 109.02, a P/E/G ratio of 5.84 and a beta of 1.28. The business has a fifty day moving average price of $153.68. salesforce.com has a 52-week low of $113.60 and a 52-week high of $167.56. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34.
salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. salesforce.com’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 EPS. Sell-side analysts predict that salesforce.com will post 1.25 earnings per share for the current fiscal year.
In other news, insider Mark J. Hawkins sold 15,271 shares of salesforce.com stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $157.31, for a total value of $2,402,281.01. Following the sale, the insider now directly owns 24,375 shares in the company, valued at approximately $3,834,431.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Joe Allanson sold 168 shares of salesforce.com stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $153.88, for a total value of $25,851.84. Following the completion of the sale, the chief accounting officer now owns 30,641 shares in the company, valued at $4,715,037.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 377,828 shares of company stock worth $59,094,878. Corporate insiders own 5.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bremer Trust National Association raised its stake in shares of salesforce.com by 0.4% in the fourth quarter. Bremer Trust National Association now owns 17,925 shares of the CRM provider’s stock worth $2,455,000 after purchasing an additional 66 shares during the last quarter. Highland Private Wealth Management increased its position in salesforce.com by 3.3% during the fourth quarter. Highland Private Wealth Management now owns 2,124 shares of the CRM provider’s stock valued at $291,000 after acquiring an additional 68 shares during the last quarter. Asset Dedication LLC increased its position in salesforce.com by 45.3% during the first quarter. Asset Dedication LLC now owns 218 shares of the CRM provider’s stock valued at $35,000 after acquiring an additional 68 shares during the last quarter. Arcadia Investment Management Corp MI increased its position in salesforce.com by 63.0% during the first quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. Finally, Fagan Associates Inc. increased its position in salesforce.com by 1.2% during the first quarter. Fagan Associates Inc. now owns 5,760 shares of the CRM provider’s stock valued at $912,000 after acquiring an additional 70 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.
salesforce.com Company Profile
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
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