Salesforce.com (CRM) Lowered to Sell at Vetr

Vetr cut shares of Salesforce.com (NYSE:CRM) from a hold rating to a sell rating in a research note issued to investors on Tuesday, November 21st. The brokerage currently has $104.56 price objective on the CRM provider’s stock.

CRM has been the subject of a number of other reports. Stephens restated an overweight rating and set a $107.00 target price (up from $100.00) on shares of Salesforce.com in a report on Thursday, August 31st. Royal Bank Of Canada restated a buy rating on shares of Salesforce.com in a report on Thursday, November 9th. KeyCorp restated a buy rating and set a $108.00 target price on shares of Salesforce.com in a report on Wednesday, November 8th. BMO Capital Markets raised their target price on Salesforce.com from $105.00 to $112.00 and gave the company an outperform rating in a report on Friday, November 3rd. Finally, Morgan Stanley restated an overweight rating and set a $127.00 target price (up from $107.00) on shares of Salesforce.com in a report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and forty-four have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $112.48.

Salesforce.com (NYSE CRM) traded up $1.15 during midday trading on Tuesday, reaching $104.07. The company had a trading volume of 3,898,355 shares, compared to its average volume of 4,455,816. Salesforce.com has a 1 year low of $68.23 and a 1 year high of $109.19. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The firm has a market cap of $75,170.00, a P/E ratio of 314.66, a P/E/G ratio of 9.46 and a beta of 1.24.

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

In related news, Director Craig Conway sold 250 shares of Salesforce.com stock in a transaction that occurred 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 directly owns 9,408 shares in the company, valued at $996,307.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 8,026 shares of Salesforce.com stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $92.61, for a total value of $743,287.86. Following the completion of the sale, the insider now owns 51,571 shares in the company, valued at $4,775,990.31. The disclosure for this sale can be found here. Insiders sold a total of 670,072 shares of company stock worth $68,439,414 over the last quarter. Company insiders own 6.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its holdings in Salesforce.com by 0.4% during the third 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 acquired a new position in Salesforce.com during the third quarter worth $206,000. GSA Capital Partners LLP raised its holdings in Salesforce.com by 85.3% during the third 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 raised its holdings in Salesforce.com by 11.3% during the third 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. acquired a new position in Salesforce.com during the third quarter worth $965,000. Hedge funds and other institutional investors own 85.75% of the company’s stock.

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Salesforce.com Company Profile

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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