salesforce.com inc. Coverage Initiated by Analysts at Janney Montgomery Scott (CRM)
Equities research analysts at Janney Montgomery Scott started coverage on shares of salesforce.com inc. (NYSE:CRM) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Several other analysts have also recently commented on the stock. Analysts at Raymond James upgraded shares of salesforce.com inc. from an “outperform” rating to a “strong-buy” rating in a research note to investors on Monday. They now have a $64.00 price target on the stock, up previously from $55.00. Separately, analysts at Argus initiated coverage on shares of salesforce.com inc. in a research note to investors on Thursday, October 17th. They set a “buy” rating and a $63.00 price target on the stock. Finally, analysts at JMP Securities raised their price target on shares of salesforce.com inc. from $52.00 to $62.00 in a research note to investors on Tuesday, October 8th. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $94.75.
In other salesforce.com inc. news, Director Lawrence Tomlinson unloaded 1,600 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $52.59, for a total transaction of $84,144.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of salesforce.com inc. (NYSE:CRM) traded down 1.92% during mid-day trading on Tuesday, hitting $54.04. 3,636,630 shares of the company’s stock traded hands. salesforce.com inc. has a one year low of $34.76 and a one year high of $56.24. The stock’s 50-day moving average is $51.40 and its 200-day moving average is $44.2. The company’s market cap is $32.208 billion.
salesforce.com inc. (NYSE:CRM) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter 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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