salesforce.com (NYSE:CRM) Stock Rating Lowered by Piper Sandler


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Piper Sandler downgraded shares of salesforce.com (NYSE:CRM) from an overweight rating to a neutral rating in a research report released on Monday morning, AR Network reports. They currently have $242.00 price objective on the CRM provider’s stock, down from their prior price objective of $278.00.

A number of other research analysts have also issued reports on the company. Smith Barney Citigroup initiated coverage on salesforce.com in a report on Tuesday, November 17th. They set an outperform rating and a $304.00 target price on the stock. JMP Securities lifted their target price on salesforce.com from $272.00 to $282.00 and gave the stock an outperform rating in a report on Wednesday, December 2nd. Morgan Stanley dropped their price target on salesforce.com from $275.00 to $270.00 and set an equal weight rating on the stock in a research note on Thursday, December 3rd. Zacks Investment Research cut salesforce.com from a strong-buy rating to a hold rating and set a $254.00 price target on the stock. in a research note on Tuesday, October 27th. Finally, Barclays set a $276.00 price target on salesforce.com and gave the stock a buy rating in a research note on Wednesday, December 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. salesforce.com currently has an average rating of Buy and a consensus target price of $259.97.

NYSE:CRM opened at $218.18 on Monday. The business’s 50-day moving average price is $226.49 and its 200 day moving average price is $229.45. The firm has a market cap of $199.63 billion, a P/E ratio of 56.97, a PEG ratio of 5.65 and a beta of 1.17. salesforce.com has a 52-week low of $115.29 and a 52-week high of $284.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.07.

salesforce.com (NYSE:CRM) last released its earnings results on Monday, November 30th. The CRM provider reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.99. The firm had revenue of $5.42 million for the quarter, compared to analyst estimates of $5.25 billion. salesforce.com had a return on equity of 6.63% and a net margin of 17.53%. salesforce.com’s revenue was down 99.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. Sell-side analysts expect that salesforce.com will post 2.81 EPS for the current year.

In related news, insider Amy E. Weaver sold 8,326 shares of the business’s stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $249.52, for a total value of $2,077,503.52. Following the completion of the sale, the insider now directly owns 25,664 shares in the company, valued at approximately $6,403,681.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Amy E. Weaver sold 5,800 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $235.12, for a total value of $1,363,696.00. Following the completion of the sale, the insider now owns 26,064 shares of the company’s stock, valued at $6,128,167.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,499 shares of company stock valued at $50,344,292. 4.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sky Investment Group LLC lifted its holdings in salesforce.com by 1.2% in the 3rd quarter. Sky Investment Group LLC now owns 3,820 shares of the CRM provider’s stock worth $960,000 after purchasing an additional 45 shares during the last quarter. Juncture Wealth Strategies LLC lifted its holdings in salesforce.com by 1.0% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 4,466 shares of the CRM provider’s stock worth $1,122,000 after purchasing an additional 45 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in salesforce.com by 4.4% in the 3rd quarter. Capital Investment Advisors LLC now owns 1,157 shares of the CRM provider’s stock worth $291,000 after purchasing an additional 49 shares during the last quarter. Savant Capital LLC lifted its holdings in salesforce.com by 1.5% in the 3rd quarter. Savant Capital LLC now owns 3,345 shares of the CRM provider’s stock worth $841,000 after purchasing an additional 50 shares during the last quarter. Finally, Davis R M Inc. lifted its holdings in salesforce.com by 2.0% in the 3rd quarter. Davis R M Inc. now owns 2,536 shares of the CRM provider’s stock worth $637,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 80.20% of the company’s stock.

salesforce.com Company Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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Analyst Recommendations for salesforce.com (NYSE:CRM)

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