salesforce.com inc. Price Target Raised to $62.00 at JMP Securities (CRM)
Research analysts at JMP Securities hoisted their price objective on shares of salesforce.com inc. (NYSE:CRM) to $62.00 in a report released on Tuesday, Stock Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 18.87% from the stock’s previous close.
salesforce.com inc. (NYSE:CRM) traded down 4.49% during mid-day trading on Tuesday, hitting $49.82. 2,494,004 shares of the company’s stock traded hands. salesforce.com inc. has a 1-year low of $34.76 and a 1-year high of $54.25. The stock has a 50-day moving average of $49.1 and a 200-day moving average of $43.68. The company’s market cap is $29.693 billion.
salesforce.com inc. (NYSE:CRM) last released its earnings data on Thursday, August 29th. The company reported $0.09 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.42 earnings per share. salesforce.com inc.’s revenue was up 30.7% compared to the same quarter last year. On average, analysts predict that salesforce.com inc. will post $0.34 earnings per share for the current fiscal year.
In other salesforce.com inc. news, Director Lawrence Tomlinson unloaded 2,000 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $53.04, for a total transaction of $106,080.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Robert W. Baird reiterated a “buy” rating on shares of salesforce.com inc. in a research note to investors on Tuesday. They now have a $55.00 price target on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of salesforce.com inc. from $54.00 to $66.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $94.42.
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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