FBR Capital Markets Increases salesforce.com inc. Price Target to $66.00 (CRM)
Analysts at FBR Capital Markets upped their price target on shares of salesforce.com inc. (NYSE:CRM) from $54.00 to $66.00 in a research report issued to clients and investors on Tuesday, AnalystRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ price objective indicates a potential upside of 26.53% from the stock’s previous close.
CRM has been the subject of a number of other recent research reports. Analysts at Oppenheimer raised their price target on shares of salesforce.com inc. from $55.00 to $60.00 in a research note to investors on Thursday, September 26th. They now have an “outperform” rating on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of salesforce.com inc. from $50.00 to $55.00 in a research note to investors on Thursday, September 19th. They now have an “outperform” rating on the stock. Finally, analysts at Maxim Group raised their price target on shares of salesforce.com inc. from $55.00 to $62.00 in a research note to investors on Thursday, September 19th. They now have a “positive” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $94.14.
In other salesforce.com inc. news, Director Lawrence Tomlinson unloaded 2,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $53.04, for a total value of $106,080.00. The sale was disclosed in a filing with the SEC, which is available at this link.
salesforce.com inc. (NYSE:CRM) opened at 52.16 on Tuesday. salesforce.com inc. has a 1-year low of $34.76 and a 1-year high of $54.25. The stock’s 50-day moving average is $49.1 and its 200-day moving average is $43.68. The company’s market cap is $31.087 billion.
salesforce.com inc. (NYSE:CRM) last announced its earnings results on Thursday, August 29th. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.07 by $0.02. The company had revenue of $957.00 million for the quarter, compared to the consensus estimate of $938.40 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 30.7% on a year-over-year basis. Analysts expect that salesforce.com inc. will post $0.34 EPS for the current fiscal year.
Salesforce.com, inc., is a provider of enterprise cloud computing and social enterprise solutions. The Company provides a customer and collaboration relationship management (NYSE:CRM), applications through the Internet or cloud.
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