Sanford C. Bernstein Reiterates “Neutral” Rating for salesforce.com (NYSE:CRM)

Sanford C. Bernstein reaffirmed their neutral rating on shares of salesforce.com (NYSE:CRM) in a research report sent to investors on Tuesday morning, Borsen Zeitung reports. They currently have a $169.00 price objective on the CRM provider’s stock.

CRM has been the subject of several other research reports. Wedbush reaffirmed an outperform rating and issued a $192.00 target price on shares of salesforce.com in a research report on Friday, May 31st. Nomura reaffirmed a buy rating on shares of salesforce.com in a research report on Tuesday, May 28th. BMO Capital Markets reaffirmed an outperform rating and issued a $185.00 target price (up previously from $175.00) on shares of salesforce.com in a research report on Tuesday, March 5th. Canaccord Genuity reaffirmed a buy rating and issued a $175.00 target price (up previously from $165.00) on shares of salesforce.com in a research report on Wednesday, March 6th. Finally, Exane BNP Paribas assumed coverage on salesforce.com in a research report on Friday, March 29th. They issued an outperform rating for the company. Four analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the company. salesforce.com presently has an average rating of Buy and a consensus price target of $180.03.

Shares of salesforce.com stock opened at $151.34 on Tuesday. The firm has a market capitalization of $117.39 billion, a PE ratio of 104.37, a price-to-earnings-growth ratio of 5.21 and a beta of 1.39. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. salesforce.com has a 12 month low of $113.60 and a 12 month high of $167.56.

salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.32. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. salesforce.com’s revenue was up 24.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. As a group, analysts predict that salesforce.com will post 1.34 earnings per share for the current fiscal year.

In other salesforce.com news, CAO Joe Allanson sold 667 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $159.60, for a total transaction of $106,453.20. Following the transaction, the chief accounting officer now directly owns 31,633 shares in the company, valued at $5,048,626.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark J. Hawkins sold 846 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.01, for a total value of $140,444.46. Following the transaction, the insider now owns 20,316 shares in the company, valued at $3,372,659.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 426,279 shares of company stock worth $67,663,581. Corporate insiders own 5.50% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Flinton Capital Management LLC increased its stake in shares of salesforce.com by 17.5% in the fourth quarter. Flinton Capital Management LLC now owns 73,056 shares of the CRM provider’s stock worth $10,006,000 after purchasing an additional 10,864 shares during the period. Piedmont Investment Advisors Inc. increased its stake in shares of salesforce.com by 5.7% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 93,507 shares of the CRM provider’s stock worth $12,808,000 after purchasing an additional 5,063 shares during the period. Heritage Investors Management Corp increased its stake in shares of salesforce.com by 10.0% in the first quarter. Heritage Investors Management Corp now owns 34,427 shares of the CRM provider’s stock worth $5,452,000 after purchasing an additional 3,143 shares during the period. Putnam FL Investment Management Co. increased its stake in shares of salesforce.com by 0.5% in the fourth quarter. Putnam FL Investment Management Co. now owns 21,392 shares of the CRM provider’s stock worth $2,930,000 after purchasing an additional 97 shares during the period. Finally, MML Investors Services LLC increased its stake in shares of salesforce.com by 65.9% in the fourth quarter. MML Investors Services LLC now owns 30,074 shares of the CRM provider’s stock worth $4,119,000 after purchasing an additional 11,941 shares during the period. Institutional investors own 82.14% 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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