Salesforce.com Inc (CRM) Price Target Increased to $122.00 by Analysts at SunTrust Banks, Inc.
Salesforce.com Inc (NYSE:CRM) had its price objective hoisted by equities research analysts at SunTrust Banks, Inc. to $122.00 in a report released on Wednesday. The brokerage currently has a “buy” rating on the CRM provider’s stock. SunTrust Banks, Inc.’s price objective indicates a potential upside of 12.13% from the stock’s previous close. The analysts noted that the move was a valuation call.
Several other equities research analysts have also recently issued reports on the company. Royal Bank Of Canada restated a “buy” rating and set a $102.00 price objective on shares of Salesforce.com in a report on Monday, July 31st. Credit Suisse Group initiated coverage on Salesforce.com in a report on Tuesday, August 1st. They issued an “outperform” rating and a $110.00 target price on the stock. Vetr cut Salesforce.com from a “buy” rating to a “hold” rating and set a $93.21 target price on the stock. in a report on Wednesday, August 9th. Zacks Investment Research upgraded Salesforce.com from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Monday, August 21st. Finally, Roth Capital reiterated a “buy” rating and issued a $112.00 target price (up previously from $103.00) on shares of Salesforce.com in a report on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and forty-six have given a buy rating to the company. Salesforce.com presently has an average rating of “Buy” and a consensus target price of $110.57.
Shares of Salesforce.com (NYSE CRM) opened at $108.80 on Wednesday. The company has a market capitalization of $77,166.82, a price-to-earnings ratio of 536.85, a price-to-earnings-growth ratio of 10.65 and a beta of 1.24. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.08. Salesforce.com has a fifty-two week low of $66.43 and a fifty-two week high of $109.19.
Salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, November 21st. The CRM provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. Salesforce.com’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS. equities research analysts forecast that Salesforce.com will post 0.4 earnings per share for the current year.
In other news, CFO Mark J. Hawkins sold 992 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $93.38, for a total value of $92,632.96. Following the sale, the chief financial officer now directly owns 16,272 shares of the company’s stock, valued at approximately $1,519,479.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Craig Conway sold 250 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $105.90, for a total transaction of $26,475.00. Following the completion of the sale, the director now directly owns 9,408 shares in the company, valued at $996,307.20. The disclosure for this sale can be found here. Insiders sold a total of 735,873 shares of company stock valued at $74,038,294 in the last quarter. Corporate insiders own 6.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gilbert & Cook Inc. purchased a new stake in shares of Salesforce.com in the second quarter valued at about $251,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in Salesforce.com during the second quarter valued at about $2,312,000. First Citizens Bank & Trust Co. bought a new position in Salesforce.com during the second quarter valued at about $575,000. Jag Capital Management LLC bought a new position in Salesforce.com during the second quarter valued at about $8,009,000. Finally, Appropriate Balance Financial Services Inc. grew its position in Salesforce.com by 6.9% during the second quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock valued at $5,928,000 after buying an additional 33 shares during the period. Hedge funds and other institutional investors own 86.39% of the company’s stock.
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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