salesforce.com (NYSE:CRM) had its price target upped by equities researchers at Citigroup from $185.00 to $196.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the CRM provider’s stock. Citigroup‘s target price would suggest a potential upside of 23.88% from the company’s current price.
CRM has been the topic of a number of other research reports. Monness Crespi & Hardt raised their price objective on salesforce.com from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Mizuho reiterated a “buy” rating and issued a $195.00 target price on shares of salesforce.com in a research note on Thursday, November 21st. Robert W. Baird reiterated a “buy” rating and issued a $185.00 target price on shares of salesforce.com in a report on Thursday, November 21st. TheStreet lowered shares of salesforce.com from a “b” rating to a “c” rating in a research report on Thursday, August 22nd. Finally, Cowen restated a “buy” rating and issued a $195.00 price target on shares of salesforce.com in a report on Wednesday. Five analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $189.68.
salesforce.com stock traded up $1.79 during mid-day trading on Thursday, reaching $158.22. 7,126,463 shares of the company were exchanged, compared to its average volume of 5,754,359. The business has a fifty day moving average of $157.37 and a 200 day moving average of $153.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $142.85 billion, a P/E ratio of 109.12, a PEG 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.
salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.09. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter last year, the firm earned $0.61 EPS. The business’s revenue for the quarter was up 33.0% on a year-over-year basis. Sell-side analysts predict that salesforce.com will post 1.24 EPS for the current year.
In related news, CFO Mark J. Hawkins sold 87,774 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $160.14, for a total value of $14,056,128.36. Following the sale, the chief financial officer now owns 42,780 shares in the company, valued at $6,850,789.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Joe Allanson sold 167 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $154.07, for a total value of $25,729.69. Following the completion of the sale, the chief accounting officer now owns 30,958 shares in the company, valued at approximately $4,769,699.06. The disclosure for this sale can be found here. Insiders have sold 290,065 shares of company stock worth $45,266,782 over the last three months. Corporate insiders own 5.50% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nuveen Asset Management LLC lifted its position in salesforce.com by 36,379.9% during the second quarter. Nuveen Asset Management LLC now owns 12,648,680 shares of the CRM provider’s stock valued at $1,919,183,000 after purchasing an additional 12,614,007 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of salesforce.com by 13.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 33,910,865 shares of the CRM provider’s stock valued at $5,145,296,000 after buying an additional 4,046,077 shares during the period. State Street Corp lifted its holdings in shares of salesforce.com by 12.1% in the 3rd quarter. State Street Corp now owns 34,667,028 shares of the CRM provider’s stock valued at $5,145,974,000 after buying an additional 3,749,613 shares during the period. Viking Global Investors LP purchased a new stake in shares of salesforce.com in the second quarter worth about $443,415,000. Finally, BlackRock Inc. boosted its stake in shares of salesforce.com by 4.7% in the second quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock worth $8,521,967,000 after buying an additional 2,499,996 shares during the last quarter. 81.32% of the stock is owned by 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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