Salesforce.com (CRM) Cut to Hold at Vetr

Salesforce.com (NYSE:CRM) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Monday. They presently have a $107.78 target price on the CRM provider’s stock. Vetr‘s price target indicates a potential upside of 3.80% from the stock’s current price.

CRM has been the topic of several other research reports. Stephens reiterated an “overweight” rating and set a $107.00 price objective (up previously from $100.00) on shares of Salesforce.com in a research report on Thursday, August 31st. JMP Securities raised shares of Salesforce.com to a “positive” rating in a report on Friday, October 6th. Northland Securities reissued a “buy” rating and issued a $105.00 target price on shares of Salesforce.com in a report on Sunday, September 10th. Royal Bank Of Canada reissued a “buy” rating on shares of Salesforce.com in a report on Thursday, November 9th. Finally, BMO Capital Markets raised their target price on shares of Salesforce.com from $105.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and forty-four have issued a buy rating to the company’s stock. Salesforce.com presently has an average rating of “Buy” and an average target price of $112.48.

Shares of Salesforce.com (NYSE:CRM) opened at $103.83 on Monday. The stock has a market cap of $74,996.41, a P/E ratio of 324.47, a PEG ratio of 9.75 and a beta of 1.24. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. Salesforce.com has a 1 year low of $66.43 and a 1 year high of $109.19.

Salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share (EPS) 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 net margin of 0.09% and a return on equity of 2.81%. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. sell-side analysts expect that Salesforce.com will post 0.43 EPS for the current year.

In other news, COO Keith Block sold 10,000 shares of Salesforce.com stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $106.14, for a total transaction of $1,061,400.00. Following the completion of the sale, the chief operating officer now directly owns 28,235 shares in the company, valued at $2,996,862.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Craig Conway sold 250 shares of Salesforce.com 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 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. Over the last quarter, insiders have sold 678,099 shares of company stock valued at $69,210,086. Corporate insiders own 6.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CRM. Janus Henderson Group PLC raised its holdings in shares of Salesforce.com by 911.7% in the second quarter. Janus Henderson Group PLC now owns 12,759,741 shares of the CRM provider’s stock valued at $1,104,945,000 after acquiring an additional 11,498,509 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Salesforce.com by 17.0% in the second quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock valued at $1,629,796,000 after acquiring an additional 2,740,329 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Salesforce.com by 5.2% in the second quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock valued at $3,996,548,000 after acquiring an additional 2,268,623 shares in the last quarter. Tybourne Capital Management HK Ltd. raised its holdings in shares of Salesforce.com by 76.5% in the second quarter. Tybourne Capital Management HK Ltd. now owns 4,738,144 shares of the CRM provider’s stock valued at $410,323,000 after acquiring an additional 2,053,200 shares in the last quarter. Finally, Coatue Management LLC bought a new stake in shares of Salesforce.com in the second quarter valued at about $94,297,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

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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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