Salesforce.com (CRM) Downgraded by Vetr

Vetr cut shares of Salesforce.com (NYSE:CRM) from a buy rating to a hold rating in a research report report published on Monday. The firm currently has $107.78 price target on the CRM provider’s stock.

Other analysts have also issued reports about the stock. Stifel Nicolaus increased their price target on shares of Salesforce.com from $105.00 to $110.00 and gave the company a buy rating in a research report on Wednesday, August 23rd. KeyCorp reissued a buy rating and set a $108.00 price target on shares of Salesforce.com in a research report on Wednesday, August 23rd. BidaskClub raised shares of Salesforce.com from a hold rating to a buy rating in a research report on Tuesday, August 22nd. Roth Capital reissued a buy rating and set a $112.00 price target (up from $103.00) on shares of Salesforce.com in a research report on Tuesday, August 22nd. Finally, J P Morgan Chase & Co reissued a buy rating and set a $95.00 price target on shares of Salesforce.com in a research report on Wednesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and forty-four have given a buy rating to the company. Salesforce.com currently has an average rating of Buy and a consensus price target of $112.48.

Salesforce.com (CRM) opened at $102.92 on Monday. 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 $68.23 and a 1-year high of $109.19. The stock has a market cap of $72,121.66, a PE ratio of 312.03, a price-to-earnings-growth ratio of 9.38 and a beta of 1.24.

Salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Salesforce.com had a net margin of 0.09% and a return on equity of 2.81%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the business earned $0.24 EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. equities analysts anticipate that Salesforce.com will post 0.43 earnings per share for the current year.

In other news, COO Keith Block sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $106.14, for a total transaction of $1,061,400.00. Following the sale, the chief operating officer now owns 28,235 shares of the company’s stock, valued at approximately $2,996,862.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexandre Dayon sold 9,210 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $106.69, for a total transaction of $982,614.90. Following the sale, the insider now directly owns 18,473 shares in the company, valued at approximately $1,970,884.37. The disclosure for this sale can be found here. Insiders have sold a total of 670,072 shares of company stock valued at $68,439,414 over the last three months. 6.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. NGAM Advisors L.P. grew its stake in Salesforce.com by 7.6% in the 2nd quarter. NGAM Advisors L.P. now owns 28,720 shares of the CRM provider’s stock valued at $2,487,000 after acquiring an additional 2,019 shares during the period. Stratos Wealth Partners LTD. grew its stake in Salesforce.com by 15.9% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 4,496 shares of the CRM provider’s stock valued at $389,000 after acquiring an additional 617 shares during the period. Welch & Forbes LLC grew its stake in Salesforce.com by 11.5% in the 2nd quarter. Welch & Forbes LLC now owns 2,972 shares of the CRM provider’s stock valued at $257,000 after acquiring an additional 306 shares during the period. Gilder Gagnon Howe & Co. LLC grew its stake in Salesforce.com by 86.0% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 468,489 shares of the CRM provider’s stock valued at $40,571,000 after acquiring an additional 216,570 shares during the period. Finally, TD Asset Management Inc. grew its stake in Salesforce.com by 6.9% in the 2nd quarter. TD Asset Management Inc. now owns 1,219,790 shares of the CRM provider’s stock valued at $105,634,000 after acquiring an additional 79,194 shares during the period. 85.75% of the stock is currently owned by institutional investors and hedge funds.

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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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