salesforce.com, inc.’s (CRM) Outperform Rating Reiterated at Robert W. Baird

Robert W. Baird reiterated their outperform rating on shares of salesforce.com, inc. (NYSE:CRM) in a research note published on Saturday. The brokerage currently has a $90.00 target price on the CRM provider’s stock.

CRM has been the subject of a number of other reports. Vetr upgraded salesforce.com, inc. from a buy rating to a strong-buy rating and set a $93.31 price objective for the company in a report on Monday, March 20th. Deutsche Bank AG reiterated a buy rating and set a $90.00 price objective on shares of salesforce.com, inc. in a report on Tuesday, January 31st. Needham & Company LLC started coverage on salesforce.com, inc. in a report on Wednesday, February 15th. They set a hold rating for the company. Goldman Sachs Group Inc set a $96.00 price target on salesforce.com, inc. and gave the company a buy rating in a research note on Wednesday, March 1st. Finally, MKM Partners restated a buy rating and issued a $93.00 price target on shares of salesforce.com, inc. in a research note on Thursday, December 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-one have assigned a buy rating to the company. salesforce.com, inc. has a consensus rating of Buy and a consensus target price of $94.02.

Shares of salesforce.com, inc. (NYSE:CRM) traded down 0.31% during midday trading on Friday, reaching $83.79. 2,946,068 shares of the company were exchanged. The firm’s 50 day moving average is $83.10 and its 200-day moving average is $76.92. salesforce.com, inc. has a 52-week low of $66.43 and a 52-week high of $86.42. The company has a market capitalization of $59.28 billion, a PE ratio of 322.27 and a beta of 1.42.

salesforce.com, inc. (NYSE:CRM) last posted its quarterly earnings data on Tuesday, February 28th. The CRM provider reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.23. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. salesforce.com, inc. had a return on equity of 2.40% and a net margin of 2.60%. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share. On average, equities analysts forecast that salesforce.com, inc. will post $1.29 earnings per share for the current fiscal year.

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In other news, EVP Cynthia G. Robbins sold 571 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $76.23, for a total value of $43,527.33. Following the sale, the executive vice president now directly owns 1,517 shares of the company’s stock, valued at approximately $115,640.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 2,345 shares of the business’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $85.00, for a total transaction of $199,325.00. Following the completion of the sale, the director now directly owns 34,063 shares in the company, valued at $2,895,355. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 3,689 shares of company stock worth $299,951 and have sold 1,130,476 shares worth $91,938,815. 6.70% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of salesforce.com, inc. by 7.0% in the fourth quarter. State Street Corp now owns 26,765,636 shares of the CRM provider’s stock worth $1,832,372,000 after buying an additional 1,756,272 shares during the period. Jennison Associates LLC boosted its position in shares of salesforce.com, inc. by 3.2% in the third quarter. Jennison Associates LLC now owns 20,758,784 shares of the CRM provider’s stock worth $1,480,724,000 after buying an additional 649,445 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of salesforce.com, inc. by 3.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 16,980,055 shares of the CRM provider’s stock worth $1,211,187,000 after buying an additional 585,931 shares during the period. Janus Capital Management LLC boosted its position in shares of salesforce.com, inc. by 24.3% in the fourth quarter. Janus Capital Management LLC now owns 8,844,260 shares of the CRM provider’s stock worth $605,886,000 after buying an additional 1,727,696 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of salesforce.com, inc. by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 8,648,009 shares of the CRM provider’s stock worth $616,865,000 after buying an additional 420,944 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

About salesforce.com, inc.

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.

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