CRM has been the subject of a number of analyst reports. That $82 target represents a 20% premium to yesterday’s closing price of just below $68. The transaction was disclosed in a filing with the SEC, which is available through this link. The stock has gained 14 percent this year compared with a 1.1 percent drop for the Standard & Poor’s 500 Index. The stock was sold at an average price of $72.65, for a total value of $908,125.00. The disclosure for this sale can be found here.
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Other equities research analysts have also issued research reports about the company. Oppenheimer reiterated a “buy” rating and set a $80.00 price target on shares of salesforce.com, inc.in a research note on Thursday, July 16th.
Shares of Salesforce.com Inc (NYSE:CRM) ended Thursday session in red amid volatile trading. Apparently talks fell through because neither company could agree on a price.
Salesforce notched earnings in Q2 about a penny-per-share above expectations and raised guidance for the coming quarter, thanks to the strong performance of the Service Cloud, Marketing Cloud and the Salesforce1 platform.
An arithmetical average of the ratings given by analysts to develop a Consensus Analyst Rating for each company is known as the broker recommendation.
Last quarter the biz recorded an overall net income of $4m (£2.5m), the first profit recorded in 18 consecutive quarters.
For the current quarter, Wall Street is looking for non-GAAP earnings of 18 cents per share with $1.68 billion in revenue. During the same quarter in the prior year, the business earned $0.13 EPS.
Revenue rose 24 percent to $1.63 billion, beating analysts’ average estimate of $1.60 billion.
Salesforce.com expects full-year results to range from a loss of 17 cents per share to a loss of 15 cents per share, with revenue ranging from $6.6 billion to $6.63 billion. In order to maintain the high top-line growth, Salesforce has locked onto the cloud analytics market and industry-specific customer relationship management (CRM) solutions as the next growth frontiers.
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The company now does not have a presence in the industry verticals cloud computing space, but its well-established roots in the global CRM market provide it a reliable foothold for further expansion.
