Analysts Set salesforce.com, inc. (NYSE:CRM) PT at $311.27

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.

Institutional investors have recently modified their holdings of the company. Joseph P. Lucia & Associates LLC lifted its stake in shares of salesforce.com by 761.5% in the third quarter. Joseph P. Lucia & Associates LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after buying an additional 99 shares during the last quarter. Rosenberg Matthew Hamilton acquired a new stake in shares of salesforce.com in the third quarter worth $34,000. Atlas Private Wealth Advisors lifted its stake in shares of salesforce.com by 115.3% in the second quarter. Atlas Private Wealth Advisors now owns 127 shares of the CRM provider’s stock worth $31,000 after buying an additional 68 shares during the last quarter. First PREMIER Bank acquired a new stake in shares of salesforce.com in the second quarter worth $32,000. Finally, Providence Capital Advisors LLC lifted its stake in shares of salesforce.com by 87.2% in the first quarter. Providence Capital Advisors LLC now owns 161 shares of the CRM provider’s stock worth $34,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 77.33% of the company’s stock.

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.

About salesforce.com

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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Analyst Recommendations for salesforce.com (NYSE:CRM)

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