In a report released yesterday, Patrick Walravens from JMP Securities maintained a Buy rating on Salesforce (CRM – Research Report), with a price target of $250.00. The company’s shares closed yesterday at $148.89.
Walravens covers the Technology sector, focusing on stocks such as NICE, Salesforce, and Twilio. According to TipRanks, Walravens has an average return of -0.6% and a 37.33% success rate on recommended stocks.
In addition to JMP Securities, Salesforce also received a Buy from Goldman Sachs’s Kash Rangan in a report issued on September 23. However, on September 22, Needham reiterated a Hold rating on Salesforce (NYSE: CRM).
Based on Salesforce’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $7.72 billion and a net profit of $68 million. In comparison, last year the company earned a revenue of $6.34 billion and had a net profit of $535 million
Based on the recent corporate insider activity of 334 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRM in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform. The firm also provides guidance, support, training, and advisory services. The company was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.
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