Salesforce.com (CRM) PT Set at $144.00 by UBS
Salesforce.com (NYSE:CRM) has been assigned a $144.00 price objective by UBS in a research report issued on Wednesday. The firm currently has a “buy” rating on the CRM provider’s stock. UBS’s price objective points to a potential upside of 21.99% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Guggenheim reaffirmed a “buy” rating and issued a $128.00 price objective on shares of Salesforce.com in a research report on Thursday, January 11th. Cleveland Research assumed coverage on Salesforce.com in a report on Wednesday, January 31st. They set a “buy” rating on the stock. Argus increased their price target on Salesforce.com to $141.00 and gave the company a “buy” rating in a report on Friday, March 2nd. Cowen reissued a “buy” rating and set a $118.00 price target on shares of Salesforce.com in a report on Tuesday, November 21st. Finally, Vetr raised Salesforce.com from a “hold” rating to a “buy” rating and set a $113.54 price target on the stock in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and forty-four have assigned a buy rating to the stock. Salesforce.com has a consensus rating of “Buy” and a consensus target price of $123.91.
CRM stock opened at $118.04 on Wednesday. The stock has a market capitalization of $87,903.91, a P/E ratio of 694.39, a P/E/G ratio of 5.60 and a beta of 1.25. Salesforce.com has a 12-month low of $80.50 and a 12-month high of $128.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.92.
In other Salesforce.com news, insider Mark J. Hawkins sold 16,844 shares of the stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $101.75, for a total transaction of $1,713,877.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Keith Block sold 10,000 shares of the stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $120.01, for a total transaction of $1,200,100.00. Following the transaction, the insider now directly owns 29,618 shares of the company’s stock, valued at approximately $3,554,456.18. The disclosure for this sale can be found here. Insiders have sold a total of 291,539 shares of company stock valued at $33,241,059 in the last three months. Insiders own 6.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Egerton Capital UK LLP bought a new position in shares of Salesforce.com during the 4th quarter valued at about $294,547,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Salesforce.com by 323.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,568,872 shares of the CRM provider’s stock valued at $364,846,000 after acquiring an additional 2,725,972 shares during the last quarter. Tybourne Capital Management HK Ltd. lifted its holdings in shares of Salesforce.com by 27.8% in the 4th quarter. Tybourne Capital Management HK Ltd. now owns 4,346,500 shares of the CRM provider’s stock valued at $444,343,000 after acquiring an additional 945,000 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Salesforce.com in the 4th quarter valued at about $83,414,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Salesforce.com by 5.3% in the 3rd quarter. Janus Henderson Group PLC now owns 13,435,212 shares of the CRM provider’s stock valued at $1,255,082,000 after acquiring an additional 675,471 shares during the last quarter. 86.63% of the stock is owned by institutional investors and hedge funds.
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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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