salesforce.com inc. Receives New Coverage from Analysts at Pivotal Research (CRM)
Investment analysts at Pivotal Research assumed coverage on shares of salesforce.com inc. (NYSE:CRM) in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $66.00 price target on the stock. Pivotal Research’s target price points to a potential upside of 24.41% from the stock’s previous close.
The analysts wrote, “Salesforce.com is the company best positioned to capitalize on the growing role of technology in the broadly-defined field of marketing. Their focus contrasts with other efforts to apply technology to related areas, such as the narrower sphere of ad-tech. While ad-tech retains its importance in facilitating efficient media buying and selling, we see marketing technology as a much bigger long-term opportunity, and we view Salesforce.com as the leading provider of these technologies at this time. We are initiating coverage with a BUY rating and a $66 FY2015 (for the period ending January 2015) price target, 24% above yesterday’s close.”
A number of other firms have also recently commented on CRM. Analysts at Zacks reiterated a “neutral” rating on shares of salesforce.com inc. in a research note to investors on Thursday, November 21st. They now have a $56.00 price target on the stock. Separately, analysts at Canaccord Genuity set a $65.00 price target on shares of salesforce.com inc. in a research note to investors on Tuesday, November 19th. Finally, analysts at Barclays set a $68.00 price target on shares of salesforce.com inc. in a research note to investors on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $82.31.
Shares of salesforce.com inc. (NYSE:CRM) traded up 1.60% on Friday, hitting $53.90. The stock had a trading volume of 574,099 shares. salesforce.com inc. has a 52 week low of $36.09 and a 52 week high of $58.37. The stock has a 50-day moving average of $54.17 and a 200-day moving average of $47.0. The company’s market cap is $32.365 billion.
salesforce.com inc. (NYSE:CRM) last announced its earnings results on Monday, November 18th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company posted $0.33 earnings per share. salesforce.com inc.’s revenue was up 36.5% 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 Craig Conway sold 1,600 shares of the stock on the open market in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.00, for a total value of $83,200.00. Following the sale, the director now directly owns 17,456 shares in the company, valued at approximately $907,712. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
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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