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Published: Sat, October 08, 2016
Economy | By Melissa Porter

Salesforce.com Inc. (CRM) Stock Rating Reaffirmed by Goldman Sachs Group Inc


The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The shares were sold at an average price of $71.53, for a total value of $1,788,250.00. Benioff Marc offloaded 12,500 shares in the company at a per-share price of $67.76 and ended up generating $847,000 in proceeds. The shares were sold on September 28th for an average price of $70.34. The shares were sold at an average price of $73.36, for a total value of $1,834,000.00.

Shares of Salesforce.com Inc.

On 10/5/2016, shares of Salesforce.com Inc (NYSE:CRM) fell -5.80% in trading session and finally closed at $68.42. The stock is now holding above its 50-day SMA of $-10.88 and below its 200-day SMA of $74.66. According to these analysts, the Low Revenue Estimate for salesforce.com, inc.is 8.28 Billion and the High Revenue Estimate is 8.34 Billion.

The P/E ratio is now 219.94 and the market value is 48.81B.

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(NYSE:CRM) last released its quarterly earnings data on Wednesday, August 31st. The business earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The business's quarterly revenue was up 25.0% compared to the same quarter a year ago.

While looking at the Stock's Performance, salesforce.com, inc. now shows a Weekly Performance of -4.47%, where Monthly Performance is -9.28%, Quarterly performance is -13.13%, 6 Months performance is -9.16% and yearly performance percentage is -8.06%. They now have a $96.00 price objective on the CRM provider's stock. Signaturefd LLC raised its position in Salesforce.com by 105.5% in the second quarter. Ngam Advisors L.P. raised its stake in shares of Salesforce.com by 37.2% in the first quarter. Following the completion of the transaction, the chairman now directly owns 35,033,000 shares in the company, valued at $2,493,298,610. NN Investment Partners Holdings N.V. acquired a new stake in shares of Salesforce.com during the first quarter worth approximately $3,993,000. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider's stock valued at $143,000 after buying an additional 1,009 shares in the last quarter.

Benioff also reiterated that Salesforce has a very "disciplined M&A process", that involves the board and the whole management team, stressing that his company's stock went up most of the time after announcing acquisitions in the past.

A number of other equities research analysts have also weighed in on the stock. DA Davidson set a $86.00 price objective on Salesforce.com and gave the company a "hold" rating in a research report on Sunday, September 11th. Morgan Stanley cut their price target on Salesforce.com from $110.00 to $94.00 and set an "overweight" rating for the company in a research note on Monday, July 25th. Finally, Wunderlich reissued a buy rating and set a $101.00 target price on shares of Salesforce.com in a research report on Wednesday.

Inc. (NYSE:CRM)'s stock had its "buy" rating reaffirmed by equities research analysts at SunTrust Banks Inc.in a note issued to investors on Thursday. The company has a market cap of $46.87B.Due to negative move, the stock's recent closing price is lower than its previous close of $72.63.

Benioff says the company plans to integrate AI via Einstein into all of its sales, marketing, e-commerce, and customer service software products. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce.com Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

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