Salesforce.com Inc (CRM) Given “Underperform” Rating at Sanford C. Bernstein

Sanford C. Bernstein reissued their underperform rating on shares of Salesforce.com Inc (NYSE:CRM) in a research note published on Wednesday morning. Sanford C. Bernstein currently has a $89.00 price objective on the CRM provider’s stock, up from their previous price objective of $70.00.

Several other brokerages also recently weighed in on CRM. Vetr downgraded Salesforce.com from a hold rating to a sell rating and set a $104.56 price target for the company. in a report on Tuesday. BMO Capital Markets raised their price target on Salesforce.com from $112.00 to $118.00 and gave the company an outperform rating in a report on Wednesday. Piper Jaffray Companies restated an overweight rating and set a $135.00 price target on shares of Salesforce.com in a report on Wednesday. KeyCorp restated an overweight rating and set a $124.00 price target (up from $108.00) on shares of Salesforce.com in a report on Wednesday. Finally, Royal Bank Of Canada raised their price target on Salesforce.com from $110.00 to $120.00 and gave the company an outperform rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, six have issued a hold rating and forty-five have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $112.41.

Shares of Salesforce.com (CRM) traded down $1.97 during trading on Wednesday, reaching $106.83. The company’s stock had a trading volume of 9,003,551 shares, compared to its average volume of 4,415,381. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $78,194.56, a price-to-earnings ratio of 340.00, a P/E/G ratio of 10.79 and a beta of 1.24. Salesforce.com has a fifty-two week low of $66.43 and a fifty-two week high of $109.19.

Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, November 21st. The CRM provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.65 billion. Salesforce.com had a return on equity of 2.88% and a net margin of 0.09%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. equities analysts expect that Salesforce.com will post 0.4 EPS for the current year.

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In other Salesforce.com news, CFO Mark J. Hawkins sold 992 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $93.38, for a total value of $92,632.96. Following the completion of the sale, the chief financial officer now directly owns 16,272 shares in the company, valued at approximately $1,519,479.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Craig Conway sold 250 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $105.90, for a total value of $26,475.00. Following the completion of the sale, the director now owns 9,408 shares of the company’s stock, valued at $996,307.20. The disclosure for this sale can be found here. Insiders sold a total of 735,682 shares of company stock valued at $74,020,397 over the last quarter. Company insiders own 6.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio lifted its stake in shares of Salesforce.com by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 469,967 shares of the CRM provider’s stock worth $43,904,000 after purchasing an additional 1,697 shares during the last quarter. Crestwood Advisors Group LLC purchased a new stake in shares of Salesforce.com during the 3rd quarter worth $206,000. GSA Capital Partners LLP lifted its stake in shares of Salesforce.com by 85.3% during the 3rd quarter. GSA Capital Partners LLP now owns 8,909 shares of the CRM provider’s stock worth $832,000 after purchasing an additional 4,100 shares during the last quarter. Wealthsource Partners LLC lifted its stake in shares of Salesforce.com by 11.3% during the 3rd quarter. Wealthsource Partners LLC now owns 8,807 shares of the CRM provider’s stock worth $823,000 after purchasing an additional 894 shares during the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in shares of Salesforce.com during the 3rd quarter worth $965,000. Institutional investors and hedge funds own 86.39% of the company’s stock.

About Salesforce.com

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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