Salesforce.com (NYSE:CRM) Stock Upgrade
In an analyst note revealed to clients and investors on 18 December, Wedbush raised shares of Salesforce.com (NYSE:CRM) to a “Outperform”. The previous rating for CRM was a “Neutral”.
From a total of 45 analysts covering Salesforce.com (NYSE:CRM) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $100 while the lowest target price is $54. The mean of all analyst targets is $89.53 with a 8.65% above today’s ($78.24) stock price. Salesforce.com was the topic of 55 analyst reports since August 21, 2015 according to the firm StockzIntelligence Inc. DA Davidson maintained shares on November 20 with “Neutral” rating. Jefferies maintained shares with “Underweight” rating and $54 target share price in a report from a November 19. UBS maintained CRM stock in a recent report from November 19 with “Buy” rating. Bernstein maintained the rating on November 19. Bernstein has a “Underperform” rating and a $66 price target on shares. Finally, Barclays Capital maintained the stock with “Overweight” rating in a report issued on a November 19.
Approximately 1.06M shares of stock traded hands. salesforce.com, inc. (NYSE:CRM) has risen 8.33% since May 15, 2015 and is uptrending. It has outperformed by 12.14% the S&P500.
The overall sentiment of institutions has increased to 1.67 in Q2 2015. Its up 0.33, from 1.34 in 2015Q2. The ratio improved, as 64 institutions have sold all the shares of salesforce.com, inc. that they owned while 166 funds have taken shares off the table. 86 funds have purchased shares for the first time while 297 added to their positions. These institutions now hold 537.92 million shares or 5.84% less than the 571.28 million shares they owned in 2015Q2.
The Fund Ao Asset Management Llc currently is holding shares equating to 6.8% of its total portfolio in salesforce.com, inc. representing a total of 396,000 shares. Another fund,Criterion Capital Management Llc, is holding a total of 2.72 million shares equating to 6.42% of their holdings. Additionally, Glynn Capital Management Llc has a 219,538 share stake in salesforce.com, inc. which represents 5.04% of their total portfolio. The Fund, Ithaka Group Llc, based out of Maryland, has also built up a stake in the stock, which represents a total of 4.62% of their total portfolio. Finally Sands Capital Management Llc, a fund which is based in the state of Virginia reported a total holdings of 23.74 million shares.
Insider activity is a very important aspect to track on any stock. Going back to February 25, 2015, shareholders of salesforce.com, inc. have witnessed 0 insider buys, and a total of 82 insider sales equating to a net activity of approximately $96.48 million . Hawkins Mark J sold 8,624 shares worth approximately $677,248. Benioff Marc sold 25,000 shares worth approximately $1.95 million. Harris Parker sold 5,000 shares worth approximately $387,718. Martinez Maria sold 2,347 shares worth approximately $184,099. The company insider Conway Craig sold 400 shares worth $30,476.
salesforce.com, inc. is a provider of enterprise cloud computing solutions that include apps and platform services, as well as professional services. The company has a market cap of $51.78 billion. The Firm focuses on customer relationship management . It currently has negative earnings. The Firm offers six core cloud services that include sales force automation, customer service and support, marketing automation, community management, analytics and a cloud platform for building custom applications.
According to Zacks Investment Research, “Salesforce.com is the market and technology leader in on-demand business services. The company’s Salesforce suite of on-demand CRM applications allows customers to manage and share all of their sales, support, marketing and partner information on-demand. The Salesforce Platform, the world’s first on- demand platform, enables customers, developers and partners to build powerful new on-demand applications that extend beyond CRM to deliver the benefits of multi-tenancy and The Business Web across the enterprise. The Salesforce Platform allows applications to be easily shared, exchanged and installed with a few simple clicks via salesforce.com’s AppExchange directory. Customers can also take advantage of Successforce, salesforce.com’s world-class training, support, consulting and best practices offerings.”