salesforce.com (NYSE:CRM) had its target price lifted by Barclays from $165.00 to $172.00 in a research report issued on Friday. The brokerage currently has an “overweight” rating on the CRM provider’s stock. Barclays’ price target would indicate a potential upside of 14.34% from the stock’s current price.
A number of other research firms also recently issued reports on CRM. Piper Jaffray Companies reiterated a “buy” rating on shares of salesforce.com in a report on Thursday, August 30th. Wells Fargo & Co reiterated a “buy” rating and set a $175.00 price objective (up from $155.00) on shares of salesforce.com in a report on Thursday, August 30th. Monness Crespi & Hardt reiterated a “buy” rating and set a $170.00 price objective (up from $158.00) on shares of salesforce.com in a report on Thursday, August 30th. Canaccord Genuity increased their price objective on salesforce.com from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Finally, UBS Group increased their price objective on salesforce.com from $168.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Five research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $158.56.
Shares of salesforce.com stock traded up $1.60 during trading hours on Friday, hitting $150.43. The company’s stock had a trading volume of 44,884 shares, compared to its average volume of 4,967,130. salesforce.com has a 12 month low of $92.11 and a 12 month high of $154.97. The company has a market capitalization of $112.48 billion, a P/E ratio of 330.77, a price-to-earnings-growth ratio of 4.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 1.29.
salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.24. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.23 billion. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. salesforce.com’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. equities analysts anticipate that salesforce.com will post 1.22 EPS for the current fiscal year.
In related news, Director Sanford Robertson sold 30,000 shares of salesforce.com stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $134.05, for a total transaction of $4,021,500.00. Following the completion of the sale, the director now directly owns 174,806 shares of the company’s stock, valued at approximately $23,432,744.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Susan Wojcicki purchased 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 19th. The shares were purchased at an average cost of $138.11 per share, with a total value of $828,660.00. Following the completion of the acquisition, the director now owns 71,426 shares in the company, valued at approximately $9,864,644.86. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 18,000 shares of company stock valued at $2,584,260 and sold 504,300 shares valued at $71,888,639. Company insiders own 6.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. First Heartland Consultants Inc. acquired a new stake in salesforce.com during the 2nd quarter worth approximately $284,000. Smith Asset Management Group LP bought a new position in salesforce.com during the 2nd quarter worth $55,097,000. Fisher Asset Management LLC increased its stake in salesforce.com by 27.6% during the 1st quarter. Fisher Asset Management LLC now owns 517,668 shares of the CRM provider’s stock worth $60,205,000 after acquiring an additional 111,906 shares during the period. Synovus Financial Corp increased its stake in salesforce.com by 19.8% during the 2nd quarter. Synovus Financial Corp now owns 31,751 shares of the CRM provider’s stock worth $4,335,000 after acquiring an additional 5,240 shares during the period. Finally, Standard Life Aberdeen plc increased its stake in salesforce.com by 153.8% during the 2nd quarter. Standard Life Aberdeen plc now owns 369,044 shares of the CRM provider’s stock worth $50,371,000 after acquiring an additional 223,608 shares during the period. 85.25% of the stock is owned by institutional investors and hedge funds.
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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