JPMorgan Chase & Co. reaffirmed their buy rating on shares of salesforce.com (NYSE:CRM) in a research note published on Wednesday morning, Borsen Zeitung reports. JPMorgan Chase & Co. currently has a $200.00 price target on the CRM provider’s stock.
CRM has been the topic of several other research reports. Goldman Sachs Group reiterated a buy rating and set a $191.00 price objective on shares of salesforce.com in a report on Wednesday. Mizuho restated a buy rating and issued a $195.00 target price on shares of salesforce.com in a research note on Thursday, November 21st. KeyCorp set a $180.00 target price on salesforce.com and gave the company a buy rating in a research report on Thursday, August 22nd. Wedbush reaffirmed an outperform rating and set a $192.00 price target on shares of salesforce.com in a research note on Thursday, November 21st. Finally, Macquarie upped their price target on salesforce.com from $184.00 to $190.00 and gave the stock an outperform rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating, forty have issued a buy rating and one has given a strong buy rating to the stock. salesforce.com has an average rating of Buy and an average target price of $189.68.
NYSE:CRM opened at $158.01 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. salesforce.com has a twelve month low of $120.16 and a twelve month high of $167.56. The company has a fifty day moving average of $157.59 and a 200-day moving average of $153.43. The firm has a market capitalization of $138.57 billion, a P/E ratio of 108.97, a P/E/G ratio of 7.00 and a beta of 1.24.
salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.09. The business had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.45 billion. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. salesforce.com’s revenue was up 33.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 earnings per share. On average, analysts anticipate that salesforce.com will post 1.24 EPS for the current fiscal year.
In other salesforce.com news, CEO Marc Benioff sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $164.45, for a total value of $822,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Srinivas Tallapragada sold 1,608 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $162.57, for a total transaction of $261,412.56. Following the completion of the sale, the insider now owns 34,719 shares of the company’s stock, valued at approximately $5,644,267.83. The disclosure for this sale can be found here. Insiders sold a total of 300,065 shares of company stock valued at $46,846,882 over the last three months. 5.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CRM. Texas Yale Capital Corp. bought a new position in salesforce.com in the 2nd quarter valued at $287,000. Brookstone Capital Management purchased a new position in shares of salesforce.com in the 2nd quarter worth about $214,000. Edge Capital Group LLC purchased a new position in shares of salesforce.com in the 2nd quarter worth about $201,000. Park Avenue Securities LLC grew its position in 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 buying an additional 277 shares during the period. Finally, Bailard Inc. purchased a new stake in salesforce.com during the second quarter worth about $204,000. Hedge funds and other institutional investors own 81.32% of the company’s stock.
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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