BMO Capital Markets reissued their outperform rating on shares of salesforce.com (NYSE:CRM) in a research note issued to investors on Wednesday, The Fly reports. BMO Capital Markets currently has a $190.00 price objective on the CRM provider’s stock, up from their prior price objective of $188.00.
Several other equities analysts have also recently weighed in on the company. JMP Securities reissued a buy rating and set a $191.00 price objective on shares of salesforce.com in a research report on Monday, November 25th. UBS Group set a $190.00 target price on salesforce.com and gave the company a buy rating in a report on Friday, August 23rd. Zacks Investment Research downgraded salesforce.com from a buy rating to a hold rating and set a $166.00 price target on the stock. in a research report on Thursday, October 31st. Macquarie upped their price target on salesforce.com from $184.00 to $190.00 and gave the stock an outperform rating in a report on Friday, August 23rd. Finally, Credit Suisse Group reissued an outperform rating and issued a $185.00 price objective (up from $175.00) on shares of salesforce.com in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $189.38.
CRM traded up $1.52 during trading on Wednesday, hitting $157.95. The stock had a trading volume of 567,216 shares, compared to its average volume of 5,749,019. The firm has a market cap of $142.85 billion, a PE ratio of 108.87, a P/E/G ratio of 7.00 and a beta of 1.24. salesforce.com has a 12 month low of $120.16 and a 12 month high of $167.56. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. The company has a 50 day simple moving average of $157.25 and a 200-day simple moving average of $153.39.
salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.09. The company had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.45 billion. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The business’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 earnings per share. As a group, sell-side analysts anticipate that salesforce.com will post 1.24 earnings per share for the current fiscal year.
In other news, insider Bret Steven Taylor sold 665 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $154.07, for a total value of $102,456.55. Following the sale, the insider now owns 1,129,570 shares in the company, valued at approximately $174,032,849.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 620 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $160.41, for a total transaction of $99,454.20. Following the completion of the sale, the insider now owns 33,318 shares in the company, valued at approximately $5,344,540.38. The disclosure for this sale can be found here. In the last three months, insiders sold 290,065 shares of company stock worth $45,266,782. 5.50% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Texas Yale Capital Corp. bought a new position in shares of salesforce.com in the second quarter valued at about $287,000. Brookstone Capital Management acquired a new position in shares of salesforce.com during the second quarter worth approximately $214,000. Edge Capital Group LLC acquired a new position in shares of salesforce.com during the second quarter worth approximately $201,000. Park Avenue Securities LLC grew its stake in shares of salesforce.com by 8.2% during the second quarter. Park Avenue Securities LLC now owns 3,667 shares of the CRM provider’s stock valued at $556,000 after purchasing an additional 277 shares during the last quarter. Finally, Bailard Inc. bought a new stake in shares of salesforce.com during the second quarter valued at approximately $204,000. 81.32% of the stock is owned by hedge funds and other institutional investors.
salesforce.com Company Profile
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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