salesforce.com (NYSE:CRM)‘s stock had its “buy” rating restated by equities research analysts at Evercore ISI in a note issued to investors on Tuesday, AnalystRatings.com reports. They presently have a $190.00 target price on the CRM provider’s stock. Evercore ISI’s target price suggests a potential upside of 16.31% from the company’s current price.
CRM has been the subject of a number of other research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $171.00 price target on shares of salesforce.com in a research note on Tuesday, October 8th. Stifel Nicolaus raised their price objective on shares of salesforce.com from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. SunTrust Banks set a $189.00 price objective on shares of salesforce.com and gave the stock a “buy” rating in a report on Wednesday, August 21st. Royal Bank of Canada raised their price objective on shares of salesforce.com from $181.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. They noted that the move was a valuation call. Finally, Barclays reissued a “buy” rating and set a $189.00 price objective on shares of salesforce.com in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $184.74.
salesforce.com stock traded up $1.57 during trading on Tuesday, reaching $163.35. The stock had a trading volume of 1,541,643 shares, compared to its average volume of 4,891,378. salesforce.com has a 52-week low of $113.60 and a 52-week high of $167.56. The business has a 50 day moving average price of $151.13 and a 200 day moving average price of $153.21. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The stock has a market cap of $141.29 billion, a PE ratio of 112.66, a P/E/G ratio of 6.90 and a beta of 1.22.
salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.57. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. On average, equities analysts predict that salesforce.com will post 1.25 EPS for the current fiscal year.
In other salesforce.com news, Director Craig Conway sold 200 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $141.10, for a total transaction of $28,220.00. Following the sale, the director now directly owns 10,002 shares in the company, valued at approximately $1,411,282.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Joe Allanson sold 323 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $155.57, for a total transaction of $50,249.11. Following the sale, the chief accounting officer now owns 30,619 shares in the company, valued at $4,763,397.83. The disclosure for this sale can be found here. Insiders sold a total of 250,406 shares of company stock worth $37,784,327 over the last three months. 5.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Investors Research Corp boosted its position in shares of salesforce.com by 159.1% in the 3rd quarter. Investors Research Corp now owns 171 shares of the CRM provider’s stock worth $25,000 after buying an additional 105 shares in the last quarter. Massey Quick Simon & CO. LLC bought a new stake in salesforce.com in the 2nd quarter valued at $26,000. Personal Wealth Partners bought a new stake in salesforce.com in the 2nd quarter valued at $28,000. Acima Private Wealth LLC increased its holdings in salesforce.com by 250.0% in the 3rd quarter. Acima Private Wealth LLC now owns 189 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 135 shares during the last quarter. Finally, Enterprise Trust & Investment Co increased its holdings in salesforce.com by 234.4% in the 3rd quarter. Enterprise Trust & Investment Co now owns 204 shares of the CRM provider’s stock valued at $30,000 after acquiring an additional 143 shares during the last quarter. Institutional investors own 74.11% of the company’s stock.
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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