Moreover, analysts at Pacific Crest Securities believe Salesforce.com would be able to lead the Software as a Service market, and give an Overweight rating to its stock with a target price of $95.
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Over the last twelve months Salesforce.com’s stock price has increased by 19.2% from 66.63 to 79.42. Investors sent shares tumbling after this company reported earnings, but this move was not entirely based on the numbers; instead near-term guidance failed to impress.
DA Davidson reiterated their neutral rating on shares of Salesforce.com Inc. Raymond James lists Salesforce as a “Top Pick”, with a strong buy rating. They set an outperform rating and a $98.00 price target for the company. This means 90% are positive. salesforce.com inc. has been the topic of 73 analyst reports since September 4, 2015 according to StockzIntelligence Inc. The shares were sold at an average price of $83.12, for a total value of $3,117,000.00.
In other news, insider Parker Harris sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 7th. The disclosure for this sale can be found here.
Several large investors have recently made changes to their positions in CRM.
Salesforce displayed continued growth in its 2017 second quarter financial results. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock worth $225,000 after buying an additional 37 shares during the last quarter.
The software leader has been working on artificial intelligence for quite some time and has acquired several companies such as Tempo AI, MetaMind, Implisit, PredictionIO and etc., to provide a smart consumer relationship management platform. Fulton Bank N.A. increased its stake in Salesforce.com by 0.3% in the second quarter.
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Now the Insiders own 0.10% of salesforce.com, inc. shares. The stock is now holding above its 50-day SMA of $-0.94 and below its 200-day SMA of $80.36.
However, the firm kept an “outperform” rating on the stock as it has “attractive” valuation. (CRM) sold shares in a trading activity completed on Wednesday August 31, 2016.
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The company raised full year fiscal guidance to between $8.275bn and $8.325bn in revenue and full year earnings per share remained on target between $0.93 to $0.95. The company is also raising its full fiscal year GAAP earnings per share guidance, previously provided on May 18, 2016. The company had revenue of $1.92 million for the quarter, compared to analysts expectations of $1892.96 million.
