salesforce.com (CRM) Downgraded to Hold at Vetr

Vetr lowered shares of salesforce.com (NYSE:CRM) from a buy rating to a hold rating in a report issued on Monday. Vetr currently has $111.23 price target on the CRM provider’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Raymond James Financial reissued a buy rating and issued a $125.00 price target on shares of salesforce.com in a research note on Wednesday, November 22nd. Needham & Company LLC reissued a hold rating on shares of salesforce.com in a research note on Wednesday, November 22nd. Goldman Sachs Group set a $122.00 price target on shares of salesforce.com and gave the company a buy rating in a research note on Thursday, November 23rd. Cowen reissued a buy rating and issued a $118.00 price target on shares of salesforce.com in a research note on Tuesday, November 21st. Finally, Drexel Hamilton reaffirmed a buy rating and set a $120.00 target price on shares of salesforce.com in a research note on Tuesday, November 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and forty-three have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $112.66.

salesforce.com (CRM) opened at $109.10 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $78,800.00, a P/E ratio of 10,910.00, a PEG ratio of 10.09 and a beta of 1.24. salesforce.com has a 1-year low of $74.00 and a 1-year high of $109.49.

salesforce.com (NYSE:CRM) last posted its 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 during the quarter, compared to analyst estimates of $2.65 billion. salesforce.com had a net margin of 0.09% and a return on equity of 2.81%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. sell-side analysts anticipate that salesforce.com will post 0.43 earnings per share for the current year.

In other salesforce.com news, insider Parker Harris sold 8,026 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $96.44, for a total value of $774,027.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexandre Dayon sold 180,748 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $109.02, for a total value of $19,705,146.96. Following the completion of the transaction, the insider now owns 210,823 shares in the company, valued at $22,983,923.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 623,787 shares of company stock valued at $64,938,024. Company insiders own 6.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in salesforce.com by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock worth $3,996,548,000 after purchasing an additional 2,268,623 shares during the last quarter. Janus Henderson Group PLC increased its holdings in 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 holdings in 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. Winslow Capital Management LLC increased its holdings in 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. Finally, Tybourne Capital Management HK Ltd. increased its holdings in salesforce.com by 76.5% during the 2nd quarter. Tybourne Capital Management HK Ltd. now owns 4,738,144 shares of the CRM provider’s stock worth $410,323,000 after purchasing an additional 2,053,200 shares during the last quarter. Institutional investors own 85.57% 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.

To view Vetr’s full report, visit Vetr’s official website.

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