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

ValuEngine cut shares of salesforce.com (NYSE:CRM) from a buy rating to a hold rating in a research report report published on Wednesday, ValuEngine reports.

A number of other research firms have also recently weighed in on CRM. Macquarie raised their price target on shares of salesforce.com from $174.00 to $188.00 and gave the company an outperform rating in a report on Tuesday, March 5th. Barclays restated a buy rating and issued a $182.00 price target on shares of salesforce.com in a report on Tuesday, June 11th. SunTrust Banks raised their price target on shares of salesforce.com to $189.00 and gave the company a buy rating in a report on Tuesday, June 11th. Robert W. Baird raised their price target on shares of salesforce.com from $165.00 to $175.00 and gave the company an outperform rating in a report on Tuesday, March 5th. Finally, Zacks Investment Research lowered shares of salesforce.com from a buy rating to a hold rating in a research report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $180.03.

Shares of salesforce.com stock opened at $150.01 on Wednesday. salesforce.com has a 1 year low of $113.60 and a 1 year high of $167.56. The stock has a market cap of $117.44 billion, a price-to-earnings ratio of 103.46, a price-to-earnings-growth ratio of 5.45 and a beta of 1.39. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the business earned $0.74 EPS. The company’s revenue was up 24.3% compared to the same quarter last year. As a group, equities research analysts forecast that salesforce.com will post 1.28 earnings per share for the current fiscal year.

In other salesforce.com news, CEO Keith Block sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $151.45, for a total transaction of $378,625.00. Following the completion of the transaction, the chief executive officer now directly owns 31,017 shares of the company’s stock, valued at approximately $4,697,524.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $151.14, for a total transaction of $1,511,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 426,279 shares of company stock valued at $67,663,581 over the last three months. 5.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CRM. Hellman Jordan Management Co. Inc. MA purchased a new position in shares of salesforce.com during the 1st quarter valued at approximately $7,933,000. KCL Capital L.P. purchased a new position in shares of salesforce.com during the 1st quarter valued at approximately $7,127,000. Meridian Wealth Management LLC increased its holdings in shares of salesforce.com by 32.1% during the 1st quarter. Meridian Wealth Management LLC now owns 5,611 shares of the CRM provider’s stock valued at $889,000 after purchasing an additional 1,363 shares in the last quarter. Marshall Wace North America L.P. increased its holdings in shares of salesforce.com by 576.2% during the 1st quarter. Marshall Wace North America L.P. now owns 68,861 shares of the CRM provider’s stock valued at $10,907,000 after purchasing an additional 58,678 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of salesforce.com by 9.0% during the 1st quarter. Clearbridge Investments LLC now owns 205,464 shares of the CRM provider’s stock valued at $32,539,000 after purchasing an additional 16,970 shares in the last quarter. 82.14% of the stock is owned by institutional investors.

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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