Piper Jaffray Companies Increases salesforce.com (CRM) Price Target to $165.00

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salesforce.com (NYSE:CRM) had its price objective increased by Piper Jaffray Companies from $150.00 to $165.00 in a research note published on Wednesday, The Fly reports. Piper Jaffray Companies currently has an overweight rating on the CRM provider’s stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley raised their price objective on shares of salesforce.com from $153.00 to $178.00 and gave the stock an overweight rating in a research note on Tuesday, August 14th. Oppenheimer raised their target price on shares of salesforce.com from $135.00 to $152.00 and gave the stock an outperform rating in a research report on Wednesday, May 30th. Stifel Nicolaus raised their target price on shares of salesforce.com from $160.00 to $175.00 and gave the stock a buy rating in a research report on Tuesday, July 24th. Societe Generale set a $170.00 target price on shares of salesforce.com and gave the stock a buy rating in a research report on Tuesday, August 14th. Finally, Sanford C. Bernstein raised their target price on shares of salesforce.com from $125.00 to $135.00 and gave the stock a neutral rating in a research report on Wednesday, May 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, forty-six have assigned a buy rating and one has issued a strong buy rating to the company. salesforce.com presently has an average rating of Buy and a consensus price target of $137.92.

Shares of NYSE CRM opened at $145.02 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $106.79 billion, a price-to-earnings ratio of 322.27, a PEG ratio of 5.77 and a beta of 1.11. salesforce.com has a 1 year low of $90.28 and a 1 year high of $149.35.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, May 29th. The CRM provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.28. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.94 billion. salesforce.com had a net margin of 4.33% and a return on equity of 7.25%. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. sell-side analysts predict that salesforce.com will post 1.01 earnings per share for the current fiscal year.

In other salesforce.com news, CEO Marc Benioff sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $126.82, for a total value of $634,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Joe Allanson sold 323 shares of the firm’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $125.95, for a total transaction of $40,681.85. Following the completion of the sale, the chief accounting officer now owns 30,619 shares of the company’s stock, valued at $3,856,463.05. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 24,000 shares of company stock worth $3,376,260 and have sold 579,842 shares worth $79,566,055. Company insiders own 6.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Harvest Fund Management Co. Ltd boosted its stake in salesforce.com by 64.1% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,047 shares of the CRM provider’s stock valued at $121,000 after acquiring an additional 409 shares in the last quarter. TLP Group LLC boosted its stake in salesforce.com by 353.9% in the first quarter. TLP Group LLC now owns 1,103 shares of the CRM provider’s stock valued at $128,000 after acquiring an additional 860 shares in the last quarter. Private Capital Group LLC boosted its stake in salesforce.com by 91.9% in the first quarter. Private Capital Group LLC now owns 1,134 shares of the CRM provider’s stock valued at $132,000 after acquiring an additional 543 shares in the last quarter. Resources Investment Advisors Inc. boosted its stake in salesforce.com by 328.2% in the second quarter. Resources Investment Advisors Inc. now owns 1,259 shares of the CRM provider’s stock valued at $172,000 after acquiring an additional 965 shares in the last quarter. Finally, CWM LLC boosted its stake in salesforce.com by 95.8% in the second quarter. CWM LLC now owns 1,318 shares of the CRM provider’s stock valued at $180,000 after acquiring an additional 645 shares in the last quarter. Institutional investors own 85.59% of the company’s stock.

About salesforce.com

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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