salesforce.com (NYSE:CRM)‘s stock had its “outperform” rating reaffirmed by equities researchers at Credit Suisse Group in a report released on Tuesday. They presently have a $130.00 target price on the CRM provider’s stock, up from their previous target price of $120.00. Credit Suisse Group’s price objective would indicate a potential upside of 12.90% from the stock’s previous close.
A number of other equities analysts also recently commented on CRM. Deutsche Bank raised their price objective on shares of salesforce.com from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Group raised shares of salesforce.com from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $97.00 to $84.00 in a report on Thursday, February 15th. Guggenheim reaffirmed a “buy” rating and set a $128.00 price objective on shares of salesforce.com in a report on Thursday, January 11th. UBS Group set a $135.00 price objective on shares of salesforce.com and gave the stock a “buy” rating in a report on Tuesday, February 6th. Finally, Vetr raised shares of salesforce.com from a “hold” rating to a “buy” rating and set a $113.54 price objective for the company in a report on Monday, February 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and forty-five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $113.77.
salesforce.com (NYSE CRM) traded up $2.29 during trading hours on Tuesday, hitting $115.15. 2,119,498 shares of the stock were exchanged, compared to its average volume of 4,559,462. The company has a market cap of $82,960.00, a P/E ratio of 11,507.00, a price-to-earnings-growth ratio of 6.25 and a beta of 1.32. salesforce.com has a one year low of $80.50 and a one year high of $115.26. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08.
In other news, Vice Chairman Keith Block sold 14,189 shares of salesforce.com stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $106.86, for a total transaction of $1,516,236.54. Following the completion of the sale, the insider now owns 22,424 shares in the company, valued at approximately $2,396,228.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexandre Dayon sold 9,210 shares of salesforce.com stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $106.69, for a total transaction of $982,614.90. Following the sale, the insider now owns 18,473 shares of the company’s stock, valued at approximately $1,970,884.37. The disclosure for this sale can be found here. In the last quarter, insiders have sold 283,561 shares of company stock valued at $30,562,128. 6.20% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Bessemer Group Inc. grew its position in shares of salesforce.com by 196.4% during the 4th quarter. Bessemer Group Inc. now owns 1,150 shares of the CRM provider’s stock worth $118,000 after buying an additional 762 shares during the period. First Mercantile Trust Co. acquired a new stake in shares of salesforce.com during the 4th quarter worth approximately $123,000. Cerebellum GP LLC acquired a new stake in shares of salesforce.com during the 4th quarter worth approximately $125,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its position in shares of salesforce.com by 204.3% during the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,400 shares of the CRM provider’s stock worth $131,000 after buying an additional 940 shares during the period. Finally, Icon Wealth Partners LLC acquired a new stake in shares of salesforce.com during the 4th quarter worth approximately $131,000. Institutional investors own 86.01% of the company’s stock.
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Salesforce.com, Inc is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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