salesforce.com, inc. (CRM) Receives Average Rating of “Buy” from Analysts

Shares of salesforce.com, inc. (NYSE:CRM) have been assigned an average rating of “Buy” from the fifty-two analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and forty-four have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $114.13.

A number of research analysts have recently weighed in on the company. Vetr raised salesforce.com from a “hold” rating to a “buy” rating and set a $110.67 price objective on the stock in a report on Tuesday, December 12th. Raymond James Financial reissued a “buy” rating and issued a $125.00 price objective on shares of salesforce.com in a report on Wednesday, November 22nd. Needham & Company LLC reissued a “hold” rating on shares of salesforce.com in a report on Wednesday, November 22nd. Goldman Sachs Group set a $122.00 price objective on salesforce.com and gave the company a “buy” rating in a report on Thursday, November 23rd. Finally, Cowen reissued a “buy” rating and issued a $118.00 price objective on shares of salesforce.com in a report on Tuesday, November 21st.

In other news, insider Parker Harris sold 8,026 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $95.55, for a total value of $766,884.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Maria Martinez sold 940 shares of the firm’s stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $102.61, for a total value of $96,453.40. Following the completion of the transaction, the insider now owns 17,929 shares in the company, valued at approximately $1,839,694.69. The disclosure for this sale can be found here. Insiders have sold 639,834 shares of company stock worth $66,324,808 in the last quarter. 6.20% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commerce Bank lifted its position in salesforce.com by 8.6% during the second quarter. Commerce Bank now owns 6,058 shares of the CRM provider’s stock worth $525,000 after buying an additional 479 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in salesforce.com by 2,212.3% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 107,913 shares of the CRM provider’s stock worth $9,345,000 after buying an additional 103,246 shares in the last quarter. Fiduciary Trust Co. purchased a new position in salesforce.com during the second quarter worth approximately $187,000. Commonwealth Bank of Australia lifted its position in salesforce.com by 386.9% during the second quarter. Commonwealth Bank of Australia now owns 8,160 shares of the CRM provider’s stock worth $705,000 after buying an additional 6,484 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its position in salesforce.com by 418.8% during the second quarter. Edgestream Partners L.P. now owns 22,156 shares of the CRM provider’s stock worth $1,919,000 after buying an additional 17,885 shares in the last quarter. Institutional investors and hedge funds own 85.57% of the company’s stock.

salesforce.com (NYSE CRM) opened at $106.68 on Friday. salesforce.com has a 1 year low of $72.53 and a 1 year high of $109.19. The stock has a market capitalization of $77,050.00, a PE ratio of 10,668.00, a P/E/G ratio of 9.75 and a beta of 1.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82.

salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.65 billion. salesforce.com had a return on equity of 2.81% and a net margin of 0.09%. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. equities analysts predict that salesforce.com will post 0.43 earnings per share for the current fiscal year.

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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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