Jefferies Financial Group Reiterates Buy Rating for salesforce.com (NYSE:CRM)

Jefferies Financial Group reaffirmed their buy rating on shares of salesforce.com (NYSE:CRM) in a research report report published on Tuesday, BenzingaRatingsTable reports. They currently have a $171.00 target price on the CRM provider’s stock. Jefferies Financial Group also issued estimates for salesforce.com’s Q3 2020 earnings at $0.30 EPS, Q4 2020 earnings at $0.23 EPS, FY2020 earnings at $1.38 EPS, Q1 2021 earnings at $0.34 EPS, Q2 2021 earnings at $0.35 EPS, Q3 2021 earnings at $0.35 EPS, Q4 2021 earnings at $0.36 EPS and FY2021 earnings at $1.40 EPS.

Other equities research analysts have also recently issued research reports about the company. Macquarie boosted their target price on salesforce.com from $184.00 to $190.00 and gave the stock an outperform rating in a research note on Friday, August 23rd. Nomura boosted their target price on salesforce.com from $180.00 to $185.00 and gave the stock a buy rating in a research note on Friday, August 23rd. FBN Securities set a $200.00 target price on salesforce.com and gave the stock a buy rating in a research note on Friday, August 23rd. TheStreet cut salesforce.com from a b rating to a c rating in a research note on Thursday, August 22nd. Finally, Compass Point set a $193.00 target price on salesforce.com and gave the stock a buy rating in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. salesforce.com has an average rating of Buy and a consensus target price of $184.31.

CRM stock opened at $149.37 on Tuesday. The business has a 50 day moving average price of $151.31 and a 200 day moving average price of $154.13. The stock has a market cap of $131.00 billion, a price-to-earnings ratio of 103.01, a PEG ratio of 6.30 and a beta of 1.23. salesforce.com has a fifty-two week low of $113.60 and a fifty-two week high of $167.56. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31.

salesforce.com (NYSE:CRM) last posted its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.57. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share. As a group, sell-side analysts anticipate that salesforce.com will post 1.25 EPS for the current year.

In other news, Director Sanford Robertson sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $155.67, for a total value of $3,891,750.00. Following the transaction, the director now owns 124,017 shares of the company’s stock, valued at $19,305,726.39. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $158.94, for a total value of $794,700.00. The disclosure for this sale can be found here. In the last three months, insiders sold 282,339 shares of company stock worth $42,770,272. Corporate insiders own 5.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CRM. Buckingham Capital Management Inc. increased its holdings in shares of salesforce.com by 6.2% in the first quarter. Buckingham Capital Management Inc. now owns 34,547 shares of the CRM provider’s stock valued at $5,471,000 after purchasing an additional 2,028 shares during the period. Fiera Capital Corp grew its holdings in salesforce.com by 341.3% during the first quarter. Fiera Capital Corp now owns 7,370 shares of the CRM provider’s stock worth $1,167,000 after acquiring an additional 5,700 shares during the period. NumerixS Investment Technologies Inc acquired a new position in salesforce.com during the first quarter worth $218,000. British Airways Pensions Investment Management Ltd acquired a new position in salesforce.com during the first quarter worth $7,896,000. Finally, Meitav Dash Investments Ltd. grew its holdings in salesforce.com by 4.0% during the first quarter. Meitav Dash Investments Ltd. now owns 14,043 shares of the CRM provider’s stock worth $2,180,000 after acquiring an additional 539 shares during the period. 73.65% of the stock is currently owned by institutional investors and hedge funds.

About salesforce.com

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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Analyst Recommendations for salesforce.com (NYSE:CRM)

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