Nomura restated their buy rating on shares of salesforce.com (NYSE:CRM) in a research note published on Tuesday, AnalystRatings.com reports. They currently have a $180.00 price target on the CRM provider’s stock.
“We see a lot of noise that must be sorted through this quarter, following the CRM.org, DATA, and, more recently, ClickSoftware acquisitions, as well as multiple FY guidance revisions. We see difficult comps in both F2Q and F3Q, as we expect Y/Y revenue growth of approx. 20% versus 27.5% Y/Y growth in F3Q19, after closing the MULE acquisition. F3Q20 estimates are somewhat in line with historical expectations, with slightly above Q/Q growth of ~6% vs. the historical average of 4.6%. We continue to highlight the uncertain impact of the moving pieces created via recent acquisitions and proposed acquisitions (such as ClickSoftware).”,” the firm’s analyst commented.
Several other equities analysts have also issued reports on CRM. Sanford C. Bernstein reissued a neutral rating and issued a $169.00 price target on shares of salesforce.com in a research note on Tuesday, June 11th. Jefferies Financial Group reissued a buy rating and issued a $165.00 price target on shares of salesforce.com in a research note on Friday, August 9th. They noted that the move was a valuation call. Wedbush reissued an outperform rating and issued a $192.00 price target on shares of salesforce.com in a research note on Friday, May 31st. JPMorgan Chase & Co. reissued a buy rating and issued a $180.00 price target on shares of salesforce.com in a research note on Monday, June 3rd. Finally, Barclays reissued a buy rating and issued a $182.00 price target on shares of salesforce.com in a research note on Tuesday, June 11th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $180.00.
salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.32. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was up 24.3% on a year-over-year basis. Equities analysts anticipate that salesforce.com will post 1.25 earnings per share for the current fiscal year.
In related news, insider Mark J. Hawkins sold 15,271 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $157.31, for a total transaction of $2,402,281.01. Following the completion of the sale, the insider now owns 24,375 shares in the company, valued at $3,834,431.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $154.97, for a total value of $1,549,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 320,498 shares of company stock valued at $49,033,859. Corporate insiders own 5.50% of the company’s stock.
Large investors have recently made changes to their positions in the business. Chemung Canal Trust Co. grew its stake in salesforce.com by 1.2% in the 2nd quarter. Chemung Canal Trust Co. now owns 44,078 shares of the CRM provider’s stock valued at $6,688,000 after purchasing an additional 505 shares during the period. Hills Bank & Trust Co. grew its stake in salesforce.com by 5.3% in the 2nd quarter. Hills Bank & Trust Co. now owns 9,480 shares of the CRM provider’s stock valued at $1,438,000 after purchasing an additional 473 shares during the period. Chicago Capital LLC grew its stake in salesforce.com by 3.1% in the 2nd quarter. Chicago Capital LLC now owns 209,748 shares of the CRM provider’s stock valued at $31,825,000 after purchasing an additional 6,237 shares during the period. Columbus Circle Investors bought a new position in salesforce.com in the 1st quarter valued at $26,017,000. Finally, MML Investors Services LLC lifted its position in shares of salesforce.com by 46.5% during the 1st quarter. MML Investors Services LLC now owns 44,065 shares of the CRM provider’s stock valued at $6,979,000 after buying an additional 13,991 shares during the last quarter. Hedge funds and other institutional investors own 82.05% of the company’s stock.
salesforce.com Company Profile
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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