Stock analysts at Needham & Company LLC began coverage on shares of Salesforce.com Inc (NYSE:CRM) in a report released on Wednesday. The firm set a “hold” rating on the CRM provider’s stock.

Other equities analysts have also recently issued reports about the company. Mizuho raised their price objective on Salesforce.com from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, November 18th. Cowen and Company set a $95.00 price objective on Salesforce.com and gave the company a “buy” rating in a research note on Monday, November 14th. Rosenblatt Securities started coverage on Salesforce.com in a research note on Tuesday, October 18th. They set a “buy” rating and a $90.00 price objective on the stock. JMP Securities restated a “buy” rating on shares of Salesforce.com in a research note on Friday, November 18th. Finally, Pacific Crest restated a “buy” rating and set a $95.00 price objective on shares of Salesforce.com in a research note on Friday, November 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Salesforce.com currently has a consensus rating of “Buy” and a consensus target price of $92.67.

Analyst Recommendations for Salesforce.com (NYSE:CRM)

Shares of Salesforce.com (NYSE:CRM) opened at 80.82 on Wednesday. Salesforce.com has a 52 week low of $60.33 and a 52 week high of $84.48. The firm’s 50-day moving average is $76.82 and its 200-day moving average is $74.91. The firm has a market capitalization of $56.31 billion, a P/E ratio of 273.97 and a beta of 1.42.

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In related news, CAO Joe Allanson sold 657 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $74.12, for a total transaction of $48,696.84. Following the completion of the transaction, the chief accounting officer now owns 30,587 shares in the company, valued at $2,267,108.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Cynthia G. Robbins sold 571 shares of the company’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $76.23, for a total value of $43,527.33. Following the transaction, the executive vice president now owns 1,517 shares of the company’s stock, valued at approximately $115,640.91. The disclosure for this sale can be found here. In the last quarter, insiders acquired 4,052 shares of company stock valued at $299,908 and sold 954,190 shares valued at $71,227,534. Insiders own 6.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. NEXT Financial Group Inc increased its position in shares of Salesforce.com by 2.3% in the third quarter. NEXT Financial Group Inc now owns 1,754 shares of the CRM provider’s stock worth $125,000 after buying an additional 39 shares in the last quarter. JNBA Financial Advisors increased its position in shares of Salesforce.com by 9.3% in the fourth quarter. JNBA Financial Advisors now owns 1,828 shares of the CRM provider’s stock worth $125,000 after buying an additional 155 shares in the last quarter. Mycio Wealth Partners LLC increased its position in shares of Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock worth $149,000 after buying an additional 44 shares in the last quarter. Hemenway Trust Co LLC acquired a new position in shares of Salesforce.com during the fourth quarter worth approximately $137,000. Finally, Global X Management Co. LLC increased its position in shares of Salesforce.com by 278.4% in the third quarter. Global X Management Co. LLC now owns 2,066 shares of the CRM provider’s stock worth $147,000 after buying an additional 1,520 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

Salesforce.com Company Profile

salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.

5 Day Chart for NYSE:CRM

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