salesforce.com (NYSE:CRM) Receives “Buy” Rating from Barclays

Barclays reiterated their buy rating on shares of salesforce.com (NYSE:CRM) in a report published on Wednesday, Borsen Zeitung reports. The brokerage currently has a $189.00 price target on the CRM provider’s stock.

Other analysts have also recently issued reports about the company. UBS Group reaffirmed a buy rating and issued a $190.00 price target on shares of salesforce.com in a research note on Wednesday. Wedbush reissued an outperform rating and set a $192.00 price objective on shares of salesforce.com in a research note on Thursday, November 21st. Monness Crespi & Hardt boosted their price objective on shares of salesforce.com from $200.00 to $210.00 and gave the company a buy rating in a report on Friday, August 23rd. JMP Securities reaffirmed a buy rating and issued a $191.00 target price on shares of salesforce.com in a research note on Monday, November 25th. Finally, Needham & Company LLC reiterated a hold rating on shares of salesforce.com in a report on Wednesday. Five research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $189.38.

Shares of NYSE:CRM traded up $1.52 during midday trading on Wednesday, hitting $157.95. The company had a trading volume of 567,216 shares, compared to its average volume of 5,749,019. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. salesforce.com has a 12 month low of $120.16 and a 12 month high of $167.56. The firm has a fifty day simple moving average of $157.25 and a 200 day simple moving average of $153.39. The stock has a market cap of $142.85 billion, a price-to-earnings ratio of 108.87, a PEG ratio of 7.00 and a beta of 1.24.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The firm’s revenue was up 33.0% on a year-over-year basis. Equities analysts forecast that salesforce.com will post 1.24 EPS for the current fiscal year.

In other salesforce.com news, CAO Joe Allanson sold 167 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $154.07, for a total transaction of $25,729.69. Following the completion of the transaction, 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 this hyperlink. Also, insider Parker Harris sold 620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $149.85, for a total transaction of $92,907.00. Following the transaction, the insider now directly owns 31,375 shares of the company’s stock, valued at $4,701,543.75. The disclosure for this sale can be found here. Insiders have sold 290,065 shares of company stock valued at $45,266,782 over the last ninety days. 5.50% of the stock is owned by insiders.

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