Piper Sandler took its Salesforce.com [CRM] rating to the equivalent of Neutral from Overweight, and the price target to $242 from $278, in a research note dated 2021-01-11. That figure represents around a 8.94% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with Citigroup’s analysts downgrading the shares from “a Buy” rating to “a Neutral” rating in a research note to investors issued in early December. Meanwhile, KeyBanc Capital Markets had launched its coverage on CRM with “an Overweight”, in a research note produced for clients November 24, 2020. In addition, there was a downgrade from Morgan Stanley on November 12, 2020. The rater changed CRM from “an Overweight” to “an Equal-weight”.
Is salesforce.com inc. [NYSE:CRM] a Good Buy Right Now?
It should be noted that CRM technical indicators for short, intermediate as well as long term progress have placed an overall average of 24% as Sell. The average signal changed from 24% Sell in the last week and compares with 24% Buy in the past month. Data from salesforce.com inc.’s Trend Spotter indicated that the signals were Weakest. The stock current average is 8.4 million shares in the past 20 days and the short term average signal indicates a 50% Sell. In the last 50 days, the average trading volume was 9.82 million shares while the medium term average advocated for Hold. The average long-term signal stands at Hold and the 100-day average volume stands at 9.16 million shares.
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CRM Price Performance
On Wall Street, salesforce.com inc. [NYSE:CRM] finished Friday’s session up 1.86% at $222.04. The stock went up to $222.32 at the same session while its lowest single day price was $219.22. In the last five days, it saw a fall of about -0.22%, salesforce.com inc. shares dropped by almost -0.22% since the beginning of the year. However, the share price has dropped to as low as -21.95% below its one year high. On 01/04/21, the company shares recorded $223.75, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $215.72. The company’s shares have inclined by 23.63% in the past year. The 50-day SMA achieved is $236.06 while the 200-day SMA is $209.41. Volume dropped to 7.3 million from 8.44 million in the previous session.
salesforce.com inc. [CRM] Valuation Measures
Notably, salesforce.com inc. [CRM] stock cannot be classified as a good candidate in the listing of underestimated low-priced Software – Application companies to purchase soonest possible with the prevailing 12-month PE ratio of 133.36. The measure means the stock is exchanging at a premium as compared to the 32.29x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 9.83 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.97 which means CRM serve an unattractive investment opportunity compared to its competitors.
CRM Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 220.07 level, and in case of violation of this particular level, it will cause more drop to 218.09 level. On the upper level, 224.29 is still the key resistance. The stock may increase to the subsequent resistance at 223.17. The Relative Strength Index (RSI) pinned on the 14-day chart is 43.47, implying a neutral technical stance while the MACD stands at -4.73, meaning price will decrease in the next trading period. Percent R indicator moved to 63.80%, implying low price movement. Stochastic %K at 17.20% suggest selling the stock.
What is the short interest in salesforce.com inc.?
Short interest in the salesforce.com inc. stock has plunged, decreasing by -4.58 million shares to total 20.5 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 15.92 million, data from Yahoo Finance shows. The increase of 22.34% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 2.60% of the overall float for the stock.
salesforce.com inc.’s Biggest Shareholders: Who Owns salesforce.com inc. [CRM]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 80,198,828 shares or roughly 8.81% of the outstanding CRM shares. This means their shares have reduced by -3,898,553 from the 80,198,828 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $16,432,533,766. Details in the latest 13F filings reveal that T. Rowe Price Associates, Inc. disposed off their -0.67% stake valued at $11,053,393,965 while BlackRock Fund Advisors cut theirs at $10,425,153,745. During the last quarter, T. Rowe Price Associates, Inc. liquidated -301,676 of its shares in salesforce.com inc. while BlackRock Fund Advisors sold -202,933 shares. The SSgA Funds Management, Inc.’s holdings currently number 41,671,306 shares at $9252696784.24. According to the firm’s last 13F report, Jennison Associates LLC shares in the company at filing stood at 13,038,690 shares, roughly $3,204,910,002.
CRM Earnings Forecast For The Current Quarter
salesforce.com inc. [CRM] is expected to report strong earnings results for the quarter ending on Jan 2021. Consensus estimates give the company expected revenues of $5.68B and earnings per share of $0.75 for Jan 2021. Looking further ahead, the company is expected to report revenue of $5.72B at an EPS of $0.76 for Apr 2021. The estimates represent an upside of 20.30% and -24.46% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
CRM Earnings Estimates For The Current Year
For the financial year, salesforce.com inc. [NYSE:CRM] is expected to bring in revenue of $21.11B. The returns are nearly $4.01 billion higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 4.64, higher than that of FY20 by $1.65. Estimates put this year’s earnings growth at 55.20%, -24.60% for the next, and at an annual 17.69% over the next 5-year period. As for sales, forecasts are for an increase of 23.50% in the current fiscal year and a further 20.30% over the following year.