Needham Keeps Their Hold Rating on Salesforce (CRM)


Needham analyst Scott Berg reiterated a Hold rating on Salesforce (CRM) today. The company’s shares closed last Thursday at $231.08.

According to TipRanks.com, Berg is a top 25 analyst with an average return of 32.8% and a 74.9% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, BigCommerce Holdings, and Cornerstone Ondemand.

Salesforce has an analyst consensus of Moderate Buy, with a price target consensus of $273.78.

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Based on Salesforce’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $5.42 billion and net profit of $1.08 billion. In comparison, last year the company earned revenue of $4.51 billion and had a GAAP net loss of $109 million.

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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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