Salesforce Reaches Deal to Buy Cloud-Application Builder MuleSoft

Joanna Estrada
March 22, 2018

Alphabet Inc's Google acquired a competitor of MuleSoft called Apigee Corp in a US$625 million deal in 2016. The current EPS for the company has been recorded at $-0.81.

A number of analysts have weighed in on MULE shares. Zacks' sales averages are a mean average based on a survey of research firms that follow Mulesoft. On Tuesday, April 11 the stock rating was initiated by Bank of America with "Neutral". The company is estimating to achieve earnings per share (EPS) growth of -90.20% in this year and the earnings per share (EPS) growth expected to be 35.70% in the next year.

Several brokerages have recently issued reports on MULE.

Shares of MuleSoft, were briefly halted on Tuesday after Reuters reported that the company was in advanced talks to sell itself to Salesforce.

Buying MuleSoft would help Salesforce build a larger enterprise apps ecosystem around its own products, Barclays Plc analysts wrote in a research note, adding that MuleSoft could command a premium given its rapid growth and good fit. Piper Jaffray maintained the stock with "Buy" rating in Monday, September 18 report. The price target set for the stock is $33.89 and this sets up an interesting set of potential movement for the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company's stock. The firm earned "Equal-Weight" rating on Friday, October 27 by Barclays Capital.

Mulesoft (NYSE:MULE) last posted its quarterly earnings data on Thursday, February 15th. A company that manages their assets well will have a high return, while if manages their assets poorly will have a low return. The firm has a market capitalization of $4,495.98 and a P/E ratio of -42.08. The stock was sold at an average price of $34.08, for a total value of $1,278,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gary Little sold 21,585 shares of the stock in a transaction dated Monday, December 18th. The stock presently has an average rating of "Hold" and an average target price of $32.70. The disclosure for this sale can be found here.

On 2/21/2018 Mark Dao, Insider, sold 50,000 with an average share price of $30.33 per share and the total transaction amounting to $1,516,500.00.

Salesforce.com shares slipped 3.3% to 120.90 in early trading on the stock market today. Wells Fargo & Company MN increased its position in Mulesoft by 5,963.5% in the second quarter. Gilder Gagnon Howe & Co. The Manufacturers Life Insurance Company bought a new stake in shares of Mulesoft in the second quarter worth about $293,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MULE.

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