salesforce.com (NYSE:CRM) Earns Buy Rating from Morgan Stanley

Share on StockTwits

Morgan Stanley reiterated their buy rating on shares of salesforce.com (NYSE:CRM) in a report issued on Thursday morning, TipRanks reports. The firm currently has a $225.00 target price on the CRM provider’s stock.

Several other equities analysts have also recently issued reports on the stock. Credit Suisse Group upped their price target on shares of salesforce.com from $185.00 to $215.00 and gave the company an outperform rating in a research report on Monday, January 13th. UBS Group restated a buy rating and issued a $190.00 price target on shares of salesforce.com in a research report on Wednesday, December 4th. Northland Securities restated a buy rating and issued a $185.00 price target on shares of salesforce.com in a research report on Wednesday, December 4th. Citigroup upped their price target on shares of salesforce.com from $185.00 to $196.00 and gave the company a buy rating in a research report on Thursday, December 5th. Finally, Roth Capital reaffirmed a neutral rating on shares of salesforce.com in a research note on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. salesforce.com presently has a consensus rating of Buy and an average target price of $200.20.

Shares of NYSE CRM opened at $189.50 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. salesforce.com has a 52-week low of $137.87 and a 52-week high of $195.72. The firm has a 50 day moving average price of $182.88 and a two-hundred day moving average price of $161.37. The stock has a market cap of $168.09 billion, a P/E ratio of 201.60, a price-to-earnings-growth ratio of 8.07 and a beta of 1.19.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.09. salesforce.com had a net margin of 4.64% and a return on equity of 5.37%. The firm had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same period in the prior year, the company posted $0.61 EPS. The company’s revenue was up 33.0% on a year-over-year basis. Analysts predict that salesforce.com will post 1.28 earnings per share for the current fiscal year.

In related news, CEO Marc Benioff sold 5,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $156.00, for a total transaction of $780,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark J. Hawkins sold 87,774 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $160.14, for a total transaction of $14,056,128.36. Following the transaction, the chief financial officer now directly owns 42,780 shares in the company, valued at $6,850,789.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 487,201 shares of company stock worth $83,710,127. 5.50% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC lifted its stake in shares of salesforce.com by 93.8% in the fourth quarter. Sound Income Strategies LLC now owns 155 shares of the CRM provider’s stock valued at $25,000 after buying an additional 75 shares in the last quarter. OLD Second National Bank of Aurora lifted its stake in shares of salesforce.com by 115.6% in the fourth quarter. OLD Second National Bank of Aurora now owns 166 shares of the CRM provider’s stock valued at $27,000 after buying an additional 89 shares in the last quarter. NWK Group Inc. bought a new position in shares of salesforce.com in the fourth quarter valued at $28,000. Acima Private Wealth LLC lifted its stake in shares of salesforce.com by 250.0% in the third quarter. Acima Private Wealth LLC now owns 189 shares of the CRM provider’s stock valued at $28,000 after buying an additional 135 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its stake in shares of salesforce.com by 127.8% in the third quarter. McIlrath & Eck LLC now owns 221 shares of the CRM provider’s stock valued at $33,000 after buying an additional 124 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

salesforce.com Company Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.

Featured Story: How prevalent are 12b-1 fees?

Analyst Recommendations for salesforce.com (NYSE:CRM)

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2020 BBNS.