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Equities researchers at Pivotal Research boosted their price target on shares of salesforce.com, inc. (NYSE:CRM) from $70.00 to $71.00 in a research report issued on Friday. The firm currently has a “buy” rating on the stock. Pivotal Research’s target price would suggest a potential upside of 27.45% from the company’s current price.

Shares of salesforce.com, inc. (NYSE:CRM) opened at 55.71 on Friday. salesforce.com, inc. has a 1-year low of $42.11 and a 1-year 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 $34.206 billion. salesforce.com, inc. also saw unusually large options trading on Thursday. Stock traders bought 36,894 call options on the stock. This is an increase of approximately 471% compared to the average volume of 6,464 call options.

salesforce.com, inc. (NYSE:CRM) last posted its quarterly 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. salesforce.com, inc.’s revenue was up 37.9% compared to the same quarter last year. 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 salesforce.com, inc. stock on the open market 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 filing with the Securities & Exchange Commission, which can be accessed through this link.

Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley reiterated a “positive” rating on shares of salesforce.com, inc. in a research note on Thursday, June 19th. Analysts at Credit Suisse reiterated an “outperform” rating on shares of salesforce.com, inc. in a research note on Thursday, May 29th. They now have a $75.00 price target on the stock, down previously from $80.00. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. salesforce.com, inc. currently has an average rating of “Buy” and an average price target of $67.17.

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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