Salesforce.com Inc (NYSE:CRM) has been given a $122.00 price target by investment analysts at Goldman Sachs Group, Inc. (The) in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the CRM provider’s stock. Goldman Sachs Group, Inc. (The)’s price objective points to a potential upside of 14.20% from the stock’s previous close.

Several other brokerages also recently weighed in on CRM. J P Morgan Chase & Co reiterated a “buy” rating and set a $95.00 target price on shares of Salesforce.com in a research note on Wednesday, August 23rd. Drexel Hamilton reissued a “buy” rating and set a $111.00 price target on shares of Salesforce.com in a report on Wednesday, August 23rd. Piper Jaffray Companies reissued a “buy” rating and set a $115.00 price target on shares of Salesforce.com in a report on Wednesday, November 1st. Deutsche Bank AG reissued a “buy” rating and set a $90.00 price target (down from $95.00) on shares of Salesforce.com in a report on Wednesday, August 23rd. Finally, Canaccord Genuity reissued a “buy” rating on shares of Salesforce.com in a report on Monday, September 11th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and forty-five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $112.41.

Shares of Salesforce.com (NYSE CRM) traded down $1.97 on Thursday, hitting $106.83. 9,009,600 shares of the stock traded hands, compared to its average volume of 4,415,381. Salesforce.com has a twelve month low of $66.43 and a twelve month high of $109.19. The firm has a market capitalization of $78,194.56, a P/E ratio of 340.00, a price-to-earnings-growth ratio of 10.79 and a beta of 1.24. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.08.

Salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. Salesforce.com had a net margin of 0.09% and a return on equity of 2.88%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. sell-side analysts forecast that Salesforce.com will post 0.4 earnings per share for the current fiscal year.

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In other Salesforce.com news, insider Maria Martinez sold 726 shares of Salesforce.com stock in a transaction on Monday, August 28th. The shares were sold at an average price of $93.38, for a total value of $67,793.88. Following the transaction, the insider now owns 20,833 shares in the company, valued at approximately $1,945,385.54. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexandre Dayon sold 180,748 shares of Salesforce.com stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $109.02, for a total transaction of $19,705,146.96. Following the completion of the transaction, the insider now owns 210,823 shares in the company, valued at approximately $22,983,923.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 735,682 shares of company stock worth $74,020,397. 6.20% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Synovus Financial Corp raised its stake in shares of Salesforce.com by 10.7% in the 2nd quarter. Synovus Financial Corp now owns 22,247 shares of the CRM provider’s stock valued at $1,927,000 after acquiring an additional 2,144 shares during the period. Dai Ichi Life Insurance Company Ltd raised its stake in shares of Salesforce.com by 142.5% in the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 124,707 shares of the CRM provider’s stock valued at $10,800,000 after acquiring an additional 73,271 shares during the period. Rosenblum Silverman Sutton S F Inc. CA raised its stake in shares of Salesforce.com by 15.6% in the 2nd quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 60,612 shares of the CRM provider’s stock valued at $5,249,000 after acquiring an additional 8,181 shares during the period. Prudential Financial Inc. raised its stake in shares of Salesforce.com by 1.4% in the 2nd quarter. Prudential Financial Inc. now owns 911,249 shares of the CRM provider’s stock valued at $78,914,000 after acquiring an additional 12,516 shares during the period. Finally, Summit Global Investments raised its stake in shares of Salesforce.com by 85.3% in the 2nd quarter. Summit Global Investments now owns 23,394 shares of the CRM provider’s stock valued at $2,026,000 after acquiring an additional 10,768 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.

About Salesforce.com

Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.

Analyst Recommendations for Salesforce.com (NYSE:CRM)

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