salesforce.com, inc. (NYSE:CRM) has been assigned an average recommendation of “Buy” from the forty-four research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, thirty have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $311.27.
Several analysts have recently commented on CRM shares. Bank of America increased their price target on shares of salesforce.com from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, August 26th. Evercore ISI increased their price target on shares of salesforce.com from $325.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, September 24th. They noted that the move was a valuation call. Citigroup increased their price target on shares of salesforce.com from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Thursday, August 26th. Robert W. Baird restated a “buy” rating and set a $315.00 target price on shares of salesforce.com in a research report on Sunday, September 26th. Finally, Sanford C. Bernstein raised their target price on shares of salesforce.com from $266.00 to $290.00 and gave the stock a “market perform” rating in a research report on Thursday, August 26th.
In related news, CAO Joe Allanson sold 151 shares of the business’s stock in a transaction that occurred on Monday, July 26th. The shares were sold at an average price of $248.00, for a total transaction of $37,448.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 24th. The stock was sold at an average price of $283.79, for a total transaction of $5,675,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 789,178 shares of company stock worth $203,573,681. 4.10% of the stock is currently owned by insiders.
Shares of NYSE:CRM traded up $4.30 on Monday, reaching $288.71. The company’s stock had a trading volume of 66,805 shares, compared to its average volume of 6,377,344. The stock’s 50-day moving average is $262.92 and its two-hundred day moving average is $243.74. salesforce.com has a 52-week low of $201.51 and a 52-week high of $286.36. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $282.65 billion, a P/E ratio of 116.08, a PEG ratio of 7.35 and a beta of 1.09.
salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.56. The business had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $6.25 billion. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The business’s revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.44 earnings per share. Equities analysts forecast that salesforce.com will post 2.09 earnings per share for the current fiscal year.
salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.
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