salesforce.com (NYSE:CRM) Price Target Raised to $325.00

salesforce.com (NYSE:CRM) had its price objective hoisted by stock analysts at JMP Securities from $320.00 to $325.00 in a note issued to investors on Friday, Price Targets.com reports. The firm currently has a “buy” rating on the CRM provider’s stock. JMP Securities’ price objective indicates a potential upside of 16.97% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Citigroup raised their price target on shares of salesforce.com from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Thursday, August 26th. Wolfe Research increased their price objective on shares of salesforce.com from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 26th. Mizuho increased their price objective on shares of salesforce.com from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, August 26th. Roth Capital increased their price objective on shares of salesforce.com from $200.00 to $242.00 and gave the company a “neutral” rating in a research note on Thursday, August 26th. Finally, Stifel Nicolaus increased their price objective on shares of salesforce.com from $295.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, salesforce.com currently has a consensus rating of “Buy” and an average price target of $305.54.

Shares of NYSE CRM opened at $277.86 on Friday. salesforce.com has a fifty-two week low of $201.51 and a fifty-two week high of $279.39. The stock has a market cap of $272.02 billion, a price-to-earnings ratio of 111.59, a PEG ratio of 7.35 and a beta of 1.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s 50-day simple moving average is $253.83 and its 200 day simple moving average is $237.32.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.56. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The business had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same quarter last year, the firm earned $1.44 EPS. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, sell-side analysts predict that salesforce.com will post 2.09 EPS for the current year.

In other news, insider Srinivas Tallapragada sold 5,000 shares of the company’s stock in a transaction on Monday, August 9th. The shares were sold at an average price of $251.00, for a total value of $1,255,000.00. Following the completion of the sale, the insider now owns 68,921 shares of the company’s stock, valued at approximately $17,299,171. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brent Hyder sold 25,362 shares of the business’s stock in a transaction on Tuesday, July 6th. The stock was sold at an average price of $250.00, for a total transaction of $6,340,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 786,605 shares of company stock valued at $198,242,927 over the last ninety days. 4.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in salesforce.com during the 1st quarter worth approximately $465,000. Naples Global Advisors LLC boosted its stake in shares of salesforce.com by 4.1% during the first quarter. Naples Global Advisors LLC now owns 1,265 shares of the CRM provider’s stock valued at $268,000 after purchasing an additional 50 shares during the period. Principal Financial Group Inc. grew its holdings in shares of salesforce.com by 1.6% in the first quarter. Principal Financial Group Inc. now owns 3,630,358 shares of the CRM provider’s stock worth $769,163,000 after purchasing an additional 58,096 shares during the last quarter. Balentine LLC grew its holdings in shares of salesforce.com by 7.1% in the first quarter. Balentine LLC now owns 1,802 shares of the CRM provider’s stock worth $382,000 after purchasing an additional 120 shares during the last quarter. Finally, Pictet & Cie Europe SA increased its stake in shares of salesforce.com by 43.7% in the first quarter. Pictet & Cie Europe SA now owns 223,216 shares of the CRM provider’s stock worth $47,293,000 after buying an additional 67,887 shares during the period. 77.33% of the stock is owned by institutional investors.

About salesforce.com

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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