Salesforce.com Inc (CRM) Price Target Raised to $118.00

Salesforce.com Inc (NYSE:CRM) had its price objective boosted by BMO Capital Markets from $112.00 to $118.00 in a research note issued on Wednesday. The brokerage presently has an “outperform” rating on the CRM provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 8.46% from the stock’s previous close.

A number of other brokerages have also recently issued reports on CRM. Royal Bank Of Canada reissued a “buy” rating and set a $102.00 price target on shares of Salesforce.com in a research report on Monday, July 31st. Credit Suisse Group began coverage on shares of Salesforce.com in a research report on Tuesday, August 1st. They set an “outperform” rating and a $110.00 price target for the company. Vetr cut shares of Salesforce.com from a “buy” rating to a “hold” rating and set a $93.21 target price for the company. in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Salesforce.com from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a report on Monday, August 21st. Finally, Roth Capital reaffirmed a “buy” rating and issued a $112.00 target price (up from $103.00) on shares of Salesforce.com in a report on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $109.33.

Salesforce.com (NYSE CRM) opened at $108.80 on Wednesday. The company has a market cap of $77,166.82, a price-to-earnings ratio of 536.85, a P/E/G ratio of 10.65 and a beta of 1.24. Salesforce.com has a 52-week low of $66.43 and a 52-week high of $109.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.77 and a quick ratio of 0.77.

Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.65 billion. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The company’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. analysts forecast that Salesforce.com will post 0.4 earnings per share for the current year.

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In other Salesforce.com news, insider Maria Martinez sold 726 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $93.38, for a total transaction of $67,793.88. Following the sale, the insider now directly owns 20,833 shares in the company, valued at $1,945,385.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Conway sold 250 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $105.90, for a total transaction of $26,475.00. Following the sale, the director now owns 9,408 shares in the company, valued at $996,307.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 735,873 shares of company stock worth $74,038,294. 6.20% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Analysts LLC boosted its holdings in Salesforce.com by 14.1% in the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock valued at $110,000 after purchasing an additional 156 shares in the last quarter. Peddock Capital Advisors LLC boosted its holdings in Salesforce.com by 3,000.0% in the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock valued at $121,000 after purchasing an additional 1,350 shares in the last quarter. People s United Financial Inc. boosted its holdings in Salesforce.com by 60.1% in the second quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock valued at $127,000 after purchasing an additional 550 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Salesforce.com in the second quarter valued at approximately $130,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in Salesforce.com by 204.3% in the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,400 shares of the CRM provider’s stock valued at $131,000 after purchasing an additional 940 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

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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