salesforce.com (CRM) PT Set at $120.00 by Royal Bank of Canada

salesforce.com (NYSE:CRM) has been given a $120.00 price objective by analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday. The firm presently has a “buy” rating on the CRM provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 7.21% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Citigroup boosted their target price on shares of salesforce.com to $124.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Piper Jaffray Companies reiterated a “buy” rating and issued a $115.00 target price on shares of salesforce.com in a report on Wednesday, November 1st. Robert W. Baird set a $110.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a report on Sunday, October 1st. Guggenheim initiated coverage on shares of salesforce.com in a report on Monday, October 30th. They issued a “buy” rating and a $125.00 target price for the company. Finally, SunTrust Banks reiterated a “buy” rating and issued a $114.00 target price on shares of salesforce.com in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and forty-three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $112.86.

Shares of salesforce.com (NYSE CRM) opened at $111.93 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $80,850.00, a PE ratio of 11,193.00, a P/E/G ratio of 10.45 and a beta of 1.24. salesforce.com has a fifty-two week low of $75.43 and a fifty-two week high of $112.40.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. research analysts anticipate that salesforce.com will post 0.43 EPS for the current fiscal year.

In other news, Vice Chairman Keith Block sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $98.10, for a total transaction of $981,000.00. Following the completion of the transaction, the insider now directly owns 24,154 shares of the company’s stock, valued at approximately $2,369,507.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Marc Benioff sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $111.36, for a total value of $556,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 505,429 shares of company stock worth $53,737,077. 6.20% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Appropriate Balance Financial Services Inc. raised its stake in salesforce.com by 6.9% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock valued at $5,928,000 after purchasing an additional 33 shares during the last quarter. Capital Analysts LLC raised its stake in salesforce.com by 14.1% in the 2nd quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock valued at $110,000 after purchasing an additional 156 shares during the last quarter. Signaturefd LLC raised its stake in salesforce.com by 105.5% in the 2nd quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock valued at $107,000 after purchasing an additional 693 shares during the last quarter. Peddock Capital Advisors LLC raised its stake in salesforce.com by 3,000.0% in the 2nd quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock valued at $121,000 after purchasing an additional 1,350 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in salesforce.com by 204.3% in the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,400 shares of the CRM provider’s stock valued at $131,000 after purchasing an additional 940 shares during the last quarter. 85.52% of the stock is owned by institutional investors and hedge funds.

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salesforce.com Company Profile

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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