Barclays Raises salesforce.com, inc. Price Target to $67.00 (CRM)
Equities research analysts at Barclays hoisted their price objective on shares of salesforce.com, inc. (NYSE:CRM) from $63.00 to $67.00 in a research note issued to investors on Thursday. The firm currently has an “overweight” rating on the stock. Barclays’ target price would suggest a potential upside of 13.50% from the stock’s previous close.
In other salesforce.com, inc. news, Insider Parker Harris sold 11,333 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $59.67, for a total transaction of $676,240.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
salesforce.com, inc. (NYSE:CRM) traded up 0.76% on Thursday, hitting $59.48. The stock had a trading volume of 2,853,810 shares. salesforce.com, inc. has a 1-year low of $48.02 and a 1-year high of $67.00. The stock’s 50-day moving average is $55.31 and its 200-day moving average is $55.90. The company’s market cap is $36.818 billion.
salesforce.com, inc. (NYSE:CRM) last announced its earnings results on Thursday, August 21st. The company reported $0.13 earnings per share (EPS) for the quarter, beating the 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 previous 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of salesforce.com, inc. in a research note on Monday, August 25th. They now have a $63.00 price target on the stock. Separately, analysts at Argus reiterated a “buy” rating on shares of salesforce.com, inc. in a research note on Monday, August 25th. They now have a $71.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of salesforce.com, inc. from $65.00 to $70.00 in a research note on Friday, August 22nd. They now have a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. salesforce.com, inc. has an average rating of “Buy” and a consensus target price of $68.03.
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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