salesforce.com, inc. Price Target Cut to $57.00 (CRM)
Research analysts at Wedbush decreased their target price on shares of salesforce.com, inc. (NYSE:CRM) from $63.00 to $57.00 in a report released on Friday, American Banking News.com reports. The firm currently has a “neutral” rating on the stock. Wedbush’s target price would suggest a potential upside of 10.04% from the stock’s previous close.
Shares of salesforce.com, inc. (NYSE:CRM) traded up 0.74% during mid-day trading on Friday, hitting $51.80. The stock had a trading volume of 4,646,528 shares. salesforce.com, inc. has a 52-week low of $36.09 and a 52-week high of $67.00. The stock has a 50-day moving average of $53.83 and a 200-day moving average of $56.44. The company’s market cap is $31.605 billion.
salesforce.com, inc. (NYSE:CRM) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 37.2% on a year-over-year basis. Analysts expect that salesforce.com, inc. will post $0.50 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at B. Riley cut their price target on shares of salesforce.com, inc. from $65.00 to $55.00 in a research note on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Maxim Group cut their price target on shares of salesforce.com, inc. from $70.00 to $65.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Bank of America reiterated a “buy” rating on shares of salesforce.com, inc. in a research note on Tuesday. They now have a $73.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. salesforce.com, inc. has a consensus rating of “Buy” and a consensus price target of $67.84.
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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