salesforce.com, inc. (NYSE:CRM) Receives $275.13 Average PT from Brokerages

Shares of salesforce.com, inc. (NYSE:CRM) have been assigned an average rating of “Buy” from the thirty-six analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, twenty-six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $275.13.

Several equities analysts recently commented on the stock. Loop Capital increased their price objective on shares of salesforce.com from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Friday, May 28th. Canaccord Genuity reaffirmed a “buy” rating on shares of salesforce.com in a research report on Friday, May 28th. Barclays increased their price objective on shares of salesforce.com from $276.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, May 28th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $320.00 price objective on shares of salesforce.com in a research report on Thursday, June 3rd. Finally, Bank of America reaffirmed a “buy” rating and issued a $300.00 price objective on shares of salesforce.com in a research report on Monday, February 22nd.

In related news, insider Srinivas Tallapragada sold 5,000 shares of salesforce.com stock in a transaction on Friday, May 7th. The shares were sold at an average price of $220.88, for a total value of $1,104,400.00. Following the sale, the insider now owns 67,204 shares of the company’s stock, valued at approximately $14,844,019.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 7,535 shares of salesforce.com stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $238.00, for a total transaction of $1,793,330.00. Insiders sold a total of 187,970 shares of company stock worth $42,875,961 in the last three months. 4.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CRM. Norges Bank acquired a new stake in salesforce.com during the 4th quarter worth $2,202,604,000. Polen Capital Management LLC boosted its stake in salesforce.com by 31.0% during the 1st quarter. Polen Capital Management LLC now owns 9,228,555 shares of the CRM provider’s stock worth $1,955,254,000 after purchasing an additional 2,186,033 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in salesforce.com by 134.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,472,998 shares of the CRM provider’s stock worth $735,824,000 after purchasing an additional 1,993,259 shares during the last quarter. FIL Ltd boosted its stake in salesforce.com by 204.5% during the 1st quarter. FIL Ltd now owns 2,745,611 shares of the CRM provider’s stock worth $581,712,000 after purchasing an additional 1,843,937 shares during the last quarter. Finally, Morgan Stanley boosted its stake in salesforce.com by 13.8% during the 4th quarter. Morgan Stanley now owns 13,886,700 shares of the CRM provider’s stock worth $3,090,207,000 after purchasing an additional 1,680,084 shares during the last quarter. 76.13% of the stock is currently owned by institutional investors.

Shares of NYSE:CRM traded down $0.41 during trading on Tuesday, reaching $239.78. The stock had a trading volume of 54,396 shares, compared to its average volume of 6,701,414. salesforce.com has a one year low of $171.27 and a one year high of $284.50. The firm has a market cap of $222.04 billion, a P/E ratio of 50.25, a P/E/G ratio of 8.07 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a 50-day moving average of $226.99.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 26th. The CRM provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.33. salesforce.com had a net margin of 19.88% and a return on equity of 8.02%. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.89 billion. During the same period last year, the business earned $0.70 EPS. The company’s revenue was up 22.6% compared to the same quarter last year. As a group, analysts forecast that salesforce.com will post 1.6 earnings per share for the current year.

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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