Evercore ISI reaffirmed their buy rating on shares of salesforce.com (NYSE:CRM) in a research report sent to investors on Tuesday, AnalystRatings.com reports. Evercore ISI currently has a $190.00 target price on the CRM provider’s stock.
Other analysts have also issued research reports about the stock. Northland Securities set a $185.00 target price on shares of salesforce.com and gave the stock a buy rating in a research report on Friday, August 23rd. Monness Crespi & Hardt raised their target price on shares of salesforce.com from $200.00 to $210.00 and gave the stock a buy rating in a research report on Friday, August 23rd. Morgan Stanley raised their target price on shares of salesforce.com from $178.00 to $180.00 and gave the stock an overweight rating in a research report on Friday, August 23rd. Jefferies Financial Group restated a buy rating and set a $171.00 target price on shares of salesforce.com in a research report on Tuesday, October 8th. Finally, SunTrust Banks set a $189.00 price target on shares of salesforce.com and gave the company a buy rating in a report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. salesforce.com has a consensus rating of Buy and a consensus target price of $185.60.
NYSE CRM traded up $0.16 during mid-day trading on Tuesday, reaching $163.21. 3,259,242 shares of the stock were exchanged, compared to its average volume of 4,802,041. salesforce.com has a 1-year low of $113.60 and a 1-year high of $167.56. The business’s fifty day simple moving average is $151.89 and its 200 day simple moving average is $153.22. The stock has a market capitalization of $142.60 billion, a PE ratio of 112.56, a PEG ratio of 6.96 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97.
salesforce.com (NYSE:CRM) last announced its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.57. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the business earned $0.71 earnings per share. salesforce.com’s revenue was up 21.8% compared to the same quarter last year. On average, analysts anticipate that salesforce.com will post 1.26 EPS for the current year.
In related news, CEO Marc Benioff sold 5,000 shares of salesforce.com stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $163.14, for a total transaction of $815,700.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 620 shares of salesforce.com stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $143.68, for a total transaction of $89,081.60. Following the sale, the insider now directly owns 32,034 shares in the company, valued at approximately $4,602,645.12. The disclosure for this sale can be found here. In the last three months, insiders sold 250,199 shares of company stock worth $38,077,197. Insiders own 5.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CRM. Buckingham Capital Management Inc. increased its stake in salesforce.com by 6.2% during the 1st quarter. Buckingham Capital Management Inc. now owns 34,547 shares of the CRM provider’s stock worth $5,471,000 after buying an additional 2,028 shares during the period. Neville Rodie & Shaw Inc. increased its position in shares of salesforce.com by 1.3% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 43,265 shares of the CRM provider’s stock worth $6,565,000 after purchasing an additional 548 shares during the last quarter. Thomasville National Bank increased its position in shares of salesforce.com by 1.4% in the 2nd quarter. Thomasville National Bank now owns 63,322 shares of the CRM provider’s stock worth $9,608,000 after purchasing an additional 884 shares during the last quarter. Private Trust Co. NA increased its position in shares of salesforce.com by 5.3% in the 2nd quarter. Private Trust Co. NA now owns 7,081 shares of the CRM provider’s stock worth $1,074,000 after purchasing an additional 354 shares during the last quarter. Finally, Private Asset Management Inc. increased its position in shares of salesforce.com by 5.3% in the 2nd quarter. Private Asset Management Inc. now owns 18,592 shares of the CRM provider’s stock worth $2,821,000 after purchasing an additional 930 shares during the last quarter. 74.11% of the stock is currently owned by hedge funds and other institutional investors.
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
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