William Blair Reiterates “Outperform” Rating for salesforce.com (NYSE:CRM)

salesforce.com (NYSE:CRM)‘s stock had its “outperform” rating reiterated by investment analysts at William Blair in a research report issued on Wednesday, RTT News reports.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity reiterated a “buy” rating and issued a $185.00 price objective on shares of salesforce.com in a report on Wednesday. Northland Securities restated a “buy” rating and issued a $185.00 target price on shares of salesforce.com in a research report on Wednesday. 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. TheStreet cut shares of salesforce.com from a “b” rating to a “c” rating in a research report on Thursday, August 22nd. Finally, Nomura lifted their price target on shares of salesforce.com from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. salesforce.com presently has an average rating of “Buy” and a consensus target price of $189.05.

NYSE CRM opened at $157.01 on Wednesday. The company has a market cap of $142.85 billion, a PE ratio of 108.28, a price-to-earnings-growth ratio of 7.00 and a beta of 1.24. salesforce.com has a 52 week low of $120.16 and a 52 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. The firm’s 50-day simple moving average is $157.11 and its two-hundred day simple moving average is $153.41.

salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. The firm had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.45 billion. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The company’s revenue was up 33.0% on a year-over-year basis. During the same quarter last year, the company earned $0.61 earnings per share. As a group, equities research analysts anticipate that salesforce.com will post 1.24 EPS for the current year.

In other salesforce.com news, CAO Joe Allanson sold 167 shares of salesforce.com stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $154.07, for a total value of $25,729.69. Following the completion of the sale, the chief accounting officer now owns 30,958 shares of the company’s stock, valued at approximately $4,769,699.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 620 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $160.41, for a total value of $99,454.20. Following the sale, the insider now owns 33,318 shares of the company’s stock, valued at approximately $5,344,540.38. The disclosure for this sale can be found here. Insiders have sold 295,065 shares of company stock valued at $46,033,032 in the last quarter. 5.50% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ibex Wealth Advisors bought a new position in shares of salesforce.com in the second quarter worth about $63,000. Aviva PLC grew its holdings in salesforce.com by 0.6% during the 2nd quarter. Aviva PLC now owns 495,861 shares of the CRM provider’s stock valued at $75,237,000 after buying an additional 3,145 shares in the last quarter. Meadow Creek Investment Management LLC grew its holdings in salesforce.com by 22.6% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 131,934 shares of the CRM provider’s stock valued at $20,018,000 after buying an additional 24,354 shares in the last quarter. Impax Asset Management Group plc raised its position in shares of salesforce.com by 10.1% during the second quarter. Impax Asset Management Group plc now owns 102,272 shares of the CRM provider’s stock valued at $15,518,000 after buying an additional 9,383 shares during the last quarter. Finally, MidWestOne Financial Group Inc. purchased a new position in salesforce.com during the second quarter valued at $756,000. Institutional investors and hedge funds own 81.32% of the company’s stock.

salesforce.com Company Profile

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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