Pivotal Research Reaffirms Hold Rating for Salesforce.com (NYSE:CRM)

Salesforce.com (NYSE:CRM)‘s stock had its “hold” rating reissued by research analysts at Pivotal Research in a report released on Wednesday, November 22nd, Marketbeat.com reports. They presently have a $96.00 target price on the CRM provider’s stock, up from their previous target price of $84.00. Pivotal Research’s price target suggests a potential downside of 7.75% from the stock’s previous close.

CRM has been the subject of a number of other reports. Zacks Investment Research raised Salesforce.com from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research note on Monday, August 21st. Credit Suisse Group assumed coverage on Salesforce.com in a research note on Tuesday, August 1st. They set an “outperform” rating and a $110.00 price objective for the company. Wells Fargo & Company reissued a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a research note on Thursday, August 24th. BNP Paribas reissued a “buy” rating and set a $95.00 price objective on shares of Salesforce.com in a research note on Friday, August 25th. Finally, JMP Securities reaffirmed a “buy” rating and issued a $95.00 target price on shares of Salesforce.com in a research report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and forty-four have issued a buy rating to the company. Salesforce.com has an average rating of “Buy” and a consensus price target of $112.48.

Shares of Salesforce.com (NYSE:CRM) traded up $1.15 during trading on Wednesday, hitting $104.07. The stock had a trading volume of 3,898,355 shares, compared to its average volume of 4,455,816. Salesforce.com has a fifty-two week low of $68.23 and a fifty-two week high of $109.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $75,170.00, a PE ratio of 314.66, a price-to-earnings-growth ratio of 9.46 and a beta of 1.24.

Salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, November 21st. The CRM provider reported $0.39 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 return on equity of 2.81% and a net margin of 0.09%. The firm’s revenue was up 25.0% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. research analysts forecast that Salesforce.com will post 0.43 EPS for the current year.

In related news, insider Parker Harris sold 8,027 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $96.57, for a total value of $775,167.39. Following the completion of the transaction, the insider now owns 51,572 shares in the company, valued at approximately $4,980,308.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexandre Dayon sold 180,748 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $109.02, for a total transaction of $19,705,146.96. Following the sale, the insider now owns 210,823 shares of the company’s stock, valued at approximately $22,983,923.46. The disclosure for this sale can be found here. Insiders sold 670,072 shares of company stock valued at $68,439,414 in the last quarter. 6.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Synovus Financial Corp grew its holdings in shares of Salesforce.com by 10.7% in the 2nd quarter. Synovus Financial Corp now owns 22,247 shares of the CRM provider’s stock valued at $1,927,000 after buying an additional 2,144 shares during the period. Dai Ichi Life Insurance Company Ltd grew its holdings in shares of Salesforce.com by 142.5% in the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 124,707 shares of the CRM provider’s stock valued at $10,800,000 after buying an additional 73,271 shares during the period. Rosenblum Silverman Sutton S F Inc. CA grew its holdings in shares of Salesforce.com by 15.6% in the 2nd quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 60,612 shares of the CRM provider’s stock valued at $5,249,000 after buying an additional 8,181 shares during the period. Prudential Financial Inc. grew its holdings in shares of Salesforce.com by 1.4% in the 2nd quarter. Prudential Financial Inc. now owns 911,249 shares of the CRM provider’s stock valued at $78,914,000 after buying an additional 12,516 shares during the period. Finally, Summit Global Investments grew its holdings in shares of Salesforce.com by 85.3% in the 2nd quarter. Summit Global Investments now owns 23,394 shares of the CRM provider’s stock valued at $2,026,000 after buying an additional 10,768 shares during the period. 85.75% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Salesforce.com (NYSE:CRM)

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