salesforce.com (NYSE:CRM) had its target price lifted by Deutsche Bank from $120.00 to $130.00 in a research note published on Tuesday morning. Deutsche Bank currently has a buy rating on the CRM provider’s stock.
A number of other analysts also recently issued reports on CRM. Jefferies Group raised salesforce.com from a hold rating to a buy rating and cut their price objective for the stock from $97.00 to $84.00 in a research report on Thursday, February 15th. Guggenheim reissued a buy rating and set a $128.00 price objective on shares of salesforce.com in a research report on Thursday, January 11th. UBS Group set a $135.00 price objective on salesforce.com and gave the stock a buy rating in a research report on Tuesday, February 6th. Vetr raised salesforce.com from a hold rating to a buy rating and set a $113.54 price objective for the company in a research report on Monday, February 12th. Finally, Goldman Sachs Group set a $110.00 price objective on salesforce.com and gave the stock a buy rating in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and forty-five have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $113.89.
Shares of salesforce.com (NYSE:CRM) opened at $114.35 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $82,600.00, a PE ratio of 11,435.00, a P/E/G ratio of 6.25 and a beta of 1.32. salesforce.com has a 52-week low of $80.50 and a 52-week high of $115.26.
In other salesforce.com news, CAO Joe Allanson sold 622 shares of salesforce.com stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $106.77, for a total transaction of $66,410.94. Following the transaction, the chief accounting officer now owns 29,062 shares of the company’s stock, valued at $3,102,949.74. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Parker Harris sold 1,750 shares of salesforce.com stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $112.45, for a total value of $196,787.50. Following the transaction, the insider now directly owns 15,502 shares in the company, valued at approximately $1,743,199.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 290,311 shares of company stock valued at $31,329,616. 6.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its position in salesforce.com by 196.4% during the fourth 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 position in salesforce.com during the fourth quarter worth approximately $123,000. Cerebellum GP LLC acquired a new position in salesforce.com during the fourth quarter worth approximately $125,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in salesforce.com by 204.3% during the third 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 position in salesforce.com during the fourth quarter worth approximately $131,000. 86.01% of the stock is currently owned by institutional investors.
salesforce.com Company Profile
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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