salesforce.com (CRM) – Investment Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of salesforce.com (NYSE: CRM) in the last few weeks:

  • 12/2/2018 – salesforce.com had its price target raised by analysts at Wedbush from $160.00 to $166.00.
  • 11/30/2018 – salesforce.com was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $156.00 price target on the stock. According to Zacks, “Salesforce’s fiscal third quarter results benefited from strong growth across its product portfolio. On the back of stellar results, Salesforce raised its fiscal 2019 guidance and further stated that it is on track to achieve $21-$23 billion in annual revenues by fiscal 2022. Rapid adoption of its diverse cloud offerings given the growing demand for digital transformation remains the key catalyst. Strengthening relationships with cloud companies like Amazon, Google and IBM are a positive. Additionally, strategic acquisitions like MuleSoft, Datorama and Cloudcraze is helping it deliver strong growth. The stock has outperformed the industry on a year-to-date basis. Nonetheless, stiff competition from Oracle and Microsoft is a concern. Currency fluctuations remain a key headwind. Besides, increasing investments for international expansions and data centers is an overhang on near-term profitability.”
  • 11/28/2018 – salesforce.com had its price target lowered by analysts at Robert W. Baird from $180.00 to $165.00. They now have an “outperform” rating on the stock.
  • 11/28/2018 – salesforce.com had its price target raised by analysts at BMO Capital Markets from $174.00 to $175.00. They now have an “outperform” rating on the stock.
  • 11/28/2018 – salesforce.com had its “neutral” rating reaffirmed by analysts at Sanford C. Bernstein. They now have a $149.00 price target on the stock.
  • 11/28/2018 – salesforce.com had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $175.00 price target on the stock.
  • 11/28/2018 – salesforce.com had its price target raised by analysts at Citigroup Inc from $178.00 to $183.00. They now have a “buy” rating on the stock.
  • 11/28/2018 – salesforce.com had its “buy” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $160.00 price target on the stock.
  • 11/28/2018 – salesforce.com had its “buy” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $182.00 price target on the stock.
  • 11/28/2018 – salesforce.com had its “buy” rating reaffirmed by analysts at Goldman Sachs Group Inc. They now have a $168.00 price target on the stock.
  • 11/26/2018 – salesforce.com had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $180.00 price target on the stock, up previously from $160.00.
  • 11/21/2018 – salesforce.com had its price target lowered by analysts at Piper Jaffray Companies from $190.00 to $160.00. They now have an “overweight” rating on the stock.
  • 11/12/2018 – salesforce.com had its “hold” rating reaffirmed by analysts at Zacks Investment Research. According to Zacks, “Salesforce’s diverse cloud offerings and strong spending on digital marketing remain the catalysts. Additionally, strategic acquisitions and the resultant synergies are anticipated to prove conducive to growth over the long run. Furthermore, the company’s move of utilizing other data center operators like Amazon and Alphabet’s geographical reach to expand its international business is commendable and will help it in achieving its targeted $23 billion sales mark by 2022. The stock has outperformed the industry on a year-to-date basis. Estimates have been stable lately ahead of the company’s Q3 earnings release. The company has positive record of earnings surprises in recent quarters.Nonetheless, stiff competition, currency fluctuations and an increase in investments for international expansions and data centers could negatively impact near-term profitability.”
  • 10/29/2018 – salesforce.com is now covered by analysts at Nomura. They set a “buy” rating and a $181.00 price target on the stock.
  • 10/26/2018 – salesforce.com was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 10/15/2018 – salesforce.com had its price target raised by analysts at BMO Capital Markets from $165.00 to $174.00. They now have a “market perform” rating on the stock.

CRM opened at $144.15 on Tuesday. salesforce.com, inc. has a fifty-two week low of $98.68 and a fifty-two week high of $161.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $109.21 billion, a PE ratio of 320.33, a PEG ratio of 4.34 and a beta of 1.42.

salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, November 27th. The CRM provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.11. salesforce.com had a return on equity of 8.06% and a net margin of 6.51%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter last year, the firm earned $0.39 earnings per share. The company’s revenue was up 25.6% on a year-over-year basis. On average, sell-side analysts predict that salesforce.com, inc. will post 1.32 EPS for the current year.

In related news, insider Joe Allanson sold 104,277 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $158.33, for a total value of $16,510,177.41. Following the transaction, the insider now owns 134,587 shares in the company, valued at $21,309,159.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Amy E. Weaver sold 4,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $146.90, for a total value of $587,600.00. Following the completion of the transaction, the insider now owns 26,971 shares in the company, valued at approximately $3,962,039.90. The disclosure for this sale can be found here. Insiders have sold 498,002 shares of company stock valued at $73,200,270 in the last three months. Insiders own 6.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Botty Investors LLC bought a new position in shares of salesforce.com in the third quarter worth $123,000. Psagot Investment House Ltd. bought a new position in shares of salesforce.com in the third quarter worth $134,000. Resources Investment Advisors Inc. increased its position in shares of salesforce.com by 328.2% in the second quarter. Resources Investment Advisors Inc. now owns 1,259 shares of the CRM provider’s stock worth $172,000 after purchasing an additional 965 shares during the period. CWM LLC increased its position in shares of salesforce.com by 95.8% in the second quarter. CWM LLC now owns 1,318 shares of the CRM provider’s stock worth $180,000 after purchasing an additional 645 shares during the period. Finally, United Capital Management of KS Inc. bought a new position in shares of salesforce.com in the third quarter worth $193,000. Institutional investors own 82.78% of the company’s stock.

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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