salesforce.com inc. Stock Rating Lowered by Deutsche Bank (CRM)
salesforce.com inc. (NYSE:CRM) was downgraded by stock analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $65.00 price target on the stock, up from their previous price target of $60.00. Deutsche Bank’s price target suggests a potential upside of 6.31% from the company’s current price.
The analysts wrote, “ideal.” The analyst remarked on many recent changes including the acquisition of ExactTarget, reevaluating sales leadership and leveraging the cloud-based development platform to expand in the total available market (TAM). In addition, Japan is still “challenged.” Deutsche Bank commented, “In our view the Street is particularly excited about the impact that the new sales head Keith Block will have on large deal signings. We tilt positive about most of these changes, although it is worth asking (especially in light of the billings growth slowdown in the first half of fiscal 2014) if they stem from any perceived limitation of SFDC’s historical standardized solution set.”
salesforce.com inc. (NYSE:CRM) traded down 2.44% on Wednesday, hitting $59.65. 3,678,900 shares of the company’s stock traded hands. salesforce.com inc. has a 52-week low of $36.09 and a 52-week high of $61.45. The stock’s 50-day moving average is $55. and its 200-day moving average is $50.57. The company’s market cap is $35.969 billion.
salesforce.com inc. (NYSE:CRM) last issued its quarterly earnings data 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 in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 36.5% on a year-over-year basis. 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, Chairman Veenendaal Frank Van sold 4,333 shares of the company’s stock on the open market in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $61.00, for a total value of $264,313.00. Following the sale, the chairman now directly owns 21,893 shares of the company’s stock, valued at approximately $1,335,473. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on CRM. Analysts at FBR Capital Markets raised their price target on shares of salesforce.com inc. from $66.00 to $75.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of salesforce.com inc. from $65.00 to $70.00 in a research note to investors on Friday, January 17th. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of salesforce.com inc. in a research note to investors on Monday, December 23rd. They set an “underperform” rating and a $54.24 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $79.42.
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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