salesforce.com, inc. Price Target Raised to $70.00 (CRM)
Research analysts at Deutsche Bank increased their target price on shares of salesforce.com, inc. (NYSE:CRM) to $70.00 in a report released on Friday. Deutsche Bank’s target price points to a potential upside of 25.65% from the company’s current price.
A number of other firms have also recently commented on CRM. 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. Separately, analysts at Morgan Stanley reiterated a “positive” rating on shares of salesforce.com, inc. in a research note on Thursday, June 19th. Finally, 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 analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. salesforce.com, inc. currently has a consensus rating of “Buy” and a consensus target price of $67.34.
Shares of salesforce.com, inc. (NYSE:CRM) opened at 55.71 on Friday. salesforce.com, inc. has a 52-week low of $42.11 and a 52-week high of $67.00. The stock’s 50-day moving average is $54.40 and its 200-day moving average is $56.09. The company’s market cap is $34.206 billion. salesforce.com, inc. also saw unusually large options trading activity on Thursday. Investors acquired 36,894 call options on the company. This is an increase of 471% compared to the average volume of 6,464 call options.
salesforce.com, inc. (NYSE:CRM) last released its quarterly earnings results on Thursday, August 21st. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue 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 that occurred on Wednesday, August 20th. The shares were sold at an average price of $54.78, for a total transaction of $3,286,800.00. The sale was disclosed in a legal filing with the SEC, which is available at 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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