Goldman Sachs Group Inc Analysts Give Salesforce.com Inc (CRM) a $122.00 Price Target
Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada reissued a buy rating and issued a $102.00 price target on shares of Salesforce.com in a report on Monday, July 31st. BTIG Research reaffirmed a buy rating and set a $100.00 target price on shares of Salesforce.com in a report on Wednesday, August 23rd. Robert W. Baird reaffirmed a buy rating and set a $110.00 target price (up previously from $100.00) on shares of Salesforce.com in a report on Wednesday, August 23rd. Stifel Nicolaus increased their target price on shares of Salesforce.com from $105.00 to $110.00 and gave the company a buy rating in a report on Wednesday, August 23rd. Finally, KeyCorp reaffirmed a buy rating and set a $108.00 target price on shares of Salesforce.com in a report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and forty-five have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $112.41.
Salesforce.com (NYSE:CRM) opened at $107.15 on Thursday. The company has a market cap of $77,394.45, a price-to-earnings ratio of 334.84, a PEG ratio of 10.63 and a beta of 1.24. Salesforce.com has a twelve month low of $66.43 and a twelve month high of $109.19. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.08.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, November 21st. The CRM provider reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.65 billion. Salesforce.com had a net margin of 0.09% and a return on equity of 2.81%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 EPS. equities research analysts expect that Salesforce.com will post 0.42 earnings per share for the current fiscal year.
In related news, CFO Mark J. Hawkins sold 992 shares of Salesforce.com stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $93.38, for a total transaction of $92,632.96. Following the completion of the transaction, the chief financial officer now directly owns 16,272 shares of the company’s stock, valued at approximately $1,519,479.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Keith Block sold 10,000 shares of Salesforce.com stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $108.30, for a total transaction of $1,083,000.00. Following the transaction, the chief operating officer now directly owns 24,154 shares of the company’s stock, valued at $2,615,878.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 735,682 shares of company stock valued at $74,020,397. Corporate insiders own 6.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in Salesforce.com during the 2nd quarter valued at about $2,312,000. First Citizens Bank & Trust Co. bought a new stake in Salesforce.com during the 2nd quarter valued at about $575,000. Deltec Asset Management LLC bought a new stake in Salesforce.com during the 2nd quarter valued at about $5,719,000. CMH Wealth Management LLC increased its stake in Salesforce.com by 0.4% during the 2nd quarter. CMH Wealth Management LLC now owns 25,562 shares of the CRM provider’s stock valued at $2,206,000 after purchasing an additional 100 shares in the last quarter. Finally, ING Groep NV increased its stake in Salesforce.com by 95.8% during the 2nd quarter. ING Groep NV now owns 50,739 shares of the CRM provider’s stock valued at $4,394,000 after purchasing an additional 24,824 shares in the last quarter. 86.39% of the stock is owned by institutional investors.
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Salesforce.com Company Profile
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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