salesforce.com (CRM) Given New $165.00 Price Target at Barclays

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salesforce.com (NYSE:CRM) had its price objective increased by Barclays from $150.00 to $165.00 in a research report released on Wednesday, The Fly reports. They currently have an overweight rating on the CRM provider’s stock.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank upped their price target on salesforce.com to $150.00 and gave the company a buy rating in a research report on Wednesday, May 30th. Stifel Nicolaus upped their price target on salesforce.com from $142.00 to $150.00 and gave the company a buy rating in a research report on Wednesday, May 30th. UBS Group set a $144.00 price target on salesforce.com and gave the company a buy rating in a research report on Wednesday, May 30th. Canaccord Genuity upped their price target on salesforce.com from $135.00 to $150.00 and gave the company a buy rating in a research report on Wednesday, May 30th. Finally, Jefferies Financial Group upped their price target on salesforce.com to $155.00 and gave the company a buy rating in a research report on Wednesday, May 30th. One equities research 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 given a strong buy rating to the company’s stock. salesforce.com currently has a consensus rating of Buy and an average price target of $137.92.

Shares of salesforce.com stock opened at $145.02 on Wednesday. salesforce.com has a 52-week low of $90.28 and a 52-week high of $149.35. The stock has a market capitalization of $106.79 billion, a P/E ratio of 322.27, a PEG ratio of 5.77 and a beta of 1.11. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.29.

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, beating the Zacks’ consensus estimate of $0.46 by $0.28. salesforce.com had a return on equity of 7.25% and a net margin of 4.33%. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the business posted $0.28 EPS. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. sell-side analysts forecast that salesforce.com will post 1.01 EPS for the current year.

In other salesforce.com news, CEO Marc Benioff sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $126.82, for a total value of $634,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 1,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $126.66, for a total value of $215,322.00. Following the completion of the sale, the insider now directly owns 18,157 shares of the company’s stock, valued at approximately $2,299,765.62. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 24,000 shares of company stock valued at $3,376,260 and sold 579,842 shares valued at $79,566,055. 6.00% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of 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 worth $121,000 after buying 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 worth $128,000 after buying 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 worth $132,000 after buying 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 worth $172,000 after buying an additional 965 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of salesforce.com by 95.8% during the second quarter. CWM LLC now owns 1,318 shares of the CRM provider’s stock valued at $180,000 after purchasing an additional 645 shares during the period. 85.59% of the stock is owned by institutional investors and hedge funds.

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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