salesforce.com, inc. Given Consensus Recommendation of “Buy” by Analysts (NYSE:CRM)
salesforce.com, inc. (NYSE:CRM) has earned an average rating of “Buy” from the thirty-six analysts that are presently covering the company, ARN reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $67.34.
Shares of salesforce.com, inc. (NYSE:CRM) traded up 7.11% during mid-day trading on Friday, hitting $59.67. The stock had a trading volume of 11,557,251 shares. salesforce.com, inc. has a 52 week low of $42.11 and a 52 week high of $67.00. The stock has a 50-day moving average of $54.40 and a 200-day moving average of $56.09. The company’s market cap is $36.637 billion. salesforce.com, inc. also saw unusually large options trading on Thursday. Stock traders acquired 36,894 call options on the stock. This is an increase of approximately 471% compared to the average daily volume of 6,464 call options.
salesforce.com, inc. (NYSE:CRM) last announced its earnings results on Thursday, August 21st. The company reported $0.13 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.12 by $0.01. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, analysts predict that salesforce.com, inc. will post $0.51 earnings per share for the current fiscal year.
In other salesforce.com, inc. news, CEO Marc Benioff sold 60,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $54.78, for a total value of $3,286,800.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of salesforce.com, inc. to $70.00 in a research note on Friday. Separately, analysts at Pivotal Research raised their price target on shares of salesforce.com, inc. from $70.00 to $71.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Morgan Stanley reiterated a “positive” rating on shares of salesforce.com, inc. in a research note on Thursday, June 19th.
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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