salesforce.com (CRM) Cut to “C+” at TheStreet

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TheStreet lowered shares of salesforce.com (NYSE:CRM) from a b- rating to a c+ rating in a research report report published on Friday.

A number of other research analysts have also weighed in on the stock. Nomura assumed coverage on shares of salesforce.com in a report on Monday. They issued a buy rating and a $181.00 target price for the company. BMO Capital Markets lifted their price objective on shares of salesforce.com from $165.00 to $174.00 and gave the stock a market perform rating in a research note on Monday, October 15th. Rosenblatt Securities reaffirmed a buy rating and set a $178.00 price objective on shares of salesforce.com in a research note on Tuesday, October 2nd. Robert W. Baird lifted their price objective on shares of salesforce.com from $170.00 to $180.00 and gave the stock an outperform rating in a research note on Friday, September 28th. Finally, Deutsche Bank lifted their price objective on shares of salesforce.com from $170.00 to $180.00 and gave the stock a buy rating in a research note on Friday, September 28th. Six analysts have rated the stock with a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. salesforce.com presently has an average rating of Buy and a consensus price target of $165.25.

CRM stock opened at $130.99 on Friday. salesforce.com has a fifty-two week low of $98.68 and a fifty-two week high of $161.19. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $102.55 billion, a P/E ratio of 291.09, a price-to-earnings-growth ratio of 4.46 and a beta of 1.27.

salesforce.com (NYSE:CRM) last posted its earnings results on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.24. salesforce.com had a net margin of 6.45% and a return on equity of 8.27%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period last year, the firm posted $0.33 earnings per share. salesforce.com’s revenue for the quarter was up 27.3% compared to the same quarter last year. Analysts predict that salesforce.com will post 1.22 earnings per share for the current year.

In other salesforce.com news, insider Amy E. Weaver sold 5,325 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $160.11, for a total value of $852,585.75. Following the completion of the transaction, the insider now directly owns 26,798 shares in the company, valued at $4,290,627.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keith Block sold 2,160 shares of the business’s stock in a transaction dated Thursday, October 25th. The stock was sold at an average price of $134.11, for a total transaction of $289,677.60. Following the completion of the transaction, the chief executive officer now owns 23,836 shares of the company’s stock, valued at $3,196,645.96. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 18,000 shares of company stock valued at $2,703,900 and sold 518,278 shares valued at $78,207,613. Insiders own 6.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CRM. Principal Financial Group Inc. increased its holdings in shares of salesforce.com by 5.6% during the first quarter. Principal Financial Group Inc. now owns 1,675,716 shares of the CRM provider’s stock valued at $194,886,000 after acquiring an additional 89,171 shares in the last quarter. Neville Rodie & Shaw Inc. increased its holdings in shares of salesforce.com by 13.5% during the second quarter. Neville Rodie & Shaw Inc. now owns 31,886 shares of the CRM provider’s stock valued at $4,349,000 after acquiring an additional 3,785 shares in the last quarter. Gulf International Bank UK Ltd increased its holdings in shares of salesforce.com by 2.8% during the second quarter. Gulf International Bank UK Ltd now owns 221,309 shares of the CRM provider’s stock valued at $30,186,000 after acquiring an additional 6,050 shares in the last quarter. DnB Asset Management AS increased its holdings in shares of salesforce.com by 6.2% during the second quarter. DnB Asset Management AS now owns 82,616 shares of the CRM provider’s stock valued at $11,269,000 after acquiring an additional 4,800 shares in the last quarter. Finally, Newman Dignan & Sheerar Inc. acquired a new position in shares of salesforce.com during the second quarter valued at about $356,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

About salesforce.com

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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Analyst Recommendations for salesforce.com (NYSE:CRM)

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