Sanford C. Bernstein reissued their neutral rating on shares of salesforce.com (NYSE:CRM) in a research report sent to investors on Wednesday morning, Borsen Zeitung reports. The firm currently has a $175.00 target price on the CRM provider’s stock.
A number of other analysts also recently weighed in on CRM. ValuEngine cut shares of salesforce.com from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Barclays reaffirmed a buy rating and issued a $189.00 price target on shares of salesforce.com in a report on Wednesday. Stifel Nicolaus lifted their price target on salesforce.com from $185.00 to $195.00 and gave the stock a buy rating in a research report on Friday, August 23rd. KeyCorp set a $180.00 price objective on salesforce.com and gave the stock a buy rating in a research note on Thursday, August 22nd. Finally, JMP Securities reissued a buy rating and set a $191.00 price objective on shares of salesforce.com in a research note on Monday, November 25th. 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 company. salesforce.com has an average rating of Buy and a consensus price target of $189.68.
Shares of CRM opened at $158.01 on Wednesday. The company’s fifty day moving average is $157.59 and its 200 day moving average is $153.43. salesforce.com has a fifty-two week low of $120.16 and a fifty-two week high of $167.56. The stock has a market capitalization of $140.34 billion, a PE ratio of 117.20, a P/E/G ratio of 6.61 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 1.05.
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. salesforce.com had a net margin of 4.64% and a return on equity of 5.37%. The company had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. salesforce.com’s revenue was up 33.0% on a year-over-year basis. As a group, research analysts forecast that salesforce.com will post 1.28 earnings per share for the current year.
In related news, CAO Joe Allanson sold 167 shares of salesforce.com stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $154.07, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 620 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $143.68, for a total transaction of $89,081.60. Following the completion of the sale, the insider now directly owns 32,034 shares of the company’s stock, valued at $4,602,645.12. The disclosure for this sale can be found here. Insiders sold a total of 300,065 shares of company stock worth $46,846,882 in the last ninety days. 5.50% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC boosted its holdings in shares of salesforce.com by 36,379.9% in 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 grew its stake in salesforce.com by 13.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 33,910,865 shares of the CRM provider’s stock worth $5,145,296,000 after purchasing an additional 4,046,077 shares in the last quarter. State Street Corp grew its stake in salesforce.com by 12.1% in the third quarter. State Street Corp now owns 34,667,028 shares of the CRM provider’s stock worth $5,145,974,000 after purchasing an additional 3,749,613 shares in the last quarter. Viking Global Investors LP purchased a new position in salesforce.com during the 2nd quarter worth $443,415,000. Finally, BlackRock Inc. increased its holdings in salesforce.com by 4.7% during the 2nd quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock worth $8,521,967,000 after purchasing an additional 2,499,996 shares during the period. 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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