Credit Suisse Group Begins Coverage on salesforce.com (NYSE:CRM)


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Investment analysts at Credit Suisse Group began coverage on shares of salesforce.com (NYSE:CRM) in a research note issued on Monday, FinViz reports. The brokerage set an “outperform” rating and a $260.00 price target on the CRM provider’s stock. Credit Suisse Group’s target price indicates a potential upside of 17.01% from the stock’s previous close.

CRM has been the subject of a number of other research reports. Zacks Investment Research downgraded salesforce.com from a “hold” rating to a “sell” rating and set a $232.00 target price for the company. in a report on Monday, March 1st. Nord/LB downgraded salesforce.com from a “buy” rating to a “hold” rating in a report on Wednesday, March 24th. Barclays set a $276.00 target price on salesforce.com and gave the company a “buy” rating in a report on Wednesday, December 9th. UBS Group restated a “buy” rating and issued a $280.00 price target on shares of salesforce.com in a research report on Tuesday, March 16th. Finally, The Goldman Sachs Group upgraded salesforce.com from a “buy” rating to a “conviction-buy” rating and set a $315.00 price target for the company in a research report on Monday, March 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-five have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $269.03.

Shares of NYSE CRM opened at $222.20 on Monday. salesforce.com has a 1-year low of $145.00 and a 1-year high of $284.50. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a fifty day moving average price of $218.94 and a 200 day moving average price of $233.22. The company has a market cap of $204.65 billion, a PE ratio of 57.65, a P/E/G ratio of 5.42 and a beta of 1.17.

salesforce.com (NYSE:CRM) last released its earnings results on Thursday, February 25th. The CRM provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.74. salesforce.com had a return on equity of 6.63% and a net margin of 17.53%. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.68 billion. Analysts anticipate that salesforce.com will post 2.81 earnings per share for the current fiscal year.

In related news, CAO Joe Allanson sold 225 shares of the business’s stock in a transaction that occurred on Tuesday, March 23rd. The stock was sold at an average price of $215.95, for a total transaction of $48,588.75. Following the transaction, the chief accounting officer now directly owns 31,439 shares of the company’s stock, valued at approximately $6,789,252.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 4,300 shares of the business’s stock in a transaction that occurred on Tuesday, January 19th. The stock was sold at an average price of $215.68, for a total value of $927,424.00. Following the transaction, the insider now directly owns 69,445 shares in the company, valued at $14,977,897.60. The disclosure for this sale can be found here. Insiders sold a total of 73,330 shares of company stock worth $16,256,366 over the last ninety days. Corporate insiders own 4.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Dimension Capital Management LLC acquired a new position in salesforce.com during the 3rd quarter worth approximately $26,000. Pacific Center for Financial Services lifted its position in salesforce.com by 1,340.0% during the 4th quarter. Pacific Center for Financial Services now owns 144 shares of the CRM provider’s stock worth $32,000 after acquiring an additional 134 shares in the last quarter. First Personal Financial Services acquired a new position in salesforce.com during the 4th quarter worth approximately $32,000. Larson Financial Group LLC increased its holdings in salesforce.com by 93.4% during the 4th quarter. Larson Financial Group LLC now owns 147 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 71 shares during the last quarter. Finally, Flagship Private Wealth LLC purchased a new stake in salesforce.com during the 4th quarter worth approximately $33,000. 80.20% of the stock is currently owned by hedge funds and other institutional investors.

About salesforce.com

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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Analyst Recommendations for salesforce.com (NYSE:CRM)

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