Credit Suisse Group assumed coverage on shares of salesforce.com (NYSE:CRM) in a research report released on Monday morning, FinViz reports. The brokerage issued an outperform rating and a $260.00 target price on the CRM provider’s stock.
Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group raised salesforce.com from a buy rating to a conviction-buy rating and set a $315.00 price objective for the company in a research report on Monday, March 8th. UBS Group restated a buy rating and set a $280.00 price target on shares of salesforce.com in a research note on Tuesday, March 16th. Jefferies Financial Group set a $320.00 price target on salesforce.com and gave the company a buy rating in a research note on Wednesday, December 30th. Sanford C. Bernstein set a $233.00 price target on salesforce.com and gave the company a neutral rating in a research note on Friday, February 26th. Finally, Nord/LB lowered salesforce.com from a buy rating to a hold rating in a research note on Wednesday, March 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-five have given a buy rating and three have given a strong buy rating to the company’s stock. salesforce.com presently has a consensus rating of Buy and a consensus price target of $269.03.
Shares of NYSE:CRM opened at $222.70 on Monday. salesforce.com has a fifty-two week low of $145.00 and a fifty-two week high of $284.50. The business has a 50-day moving average of $218.94 and a two-hundred day moving average of $233.22. The stock has a market capitalization of $205.11 billion, a P/E ratio of 57.65, a P/E/G ratio of 5.42 and a beta of 1.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.22 and a quick ratio of 1.22.
In other news, insider Parker Harris sold 4,300 shares of the business’s stock in a transaction dated Tuesday, January 12th. The stock was sold at an average price of $215.92, for a total transaction of $928,456.00. Following the sale, the insider now directly owns 69,445 shares in the company, valued at $14,994,564.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Joe Allanson sold 225 shares of the stock in a transaction on Tuesday, March 23rd. The shares were sold at an average price of $215.95, for a total value of $48,588.75. Following the completion of the sale, the chief accounting officer now owns 31,439 shares of the company’s stock, valued at $6,789,252.05. The disclosure for this sale can be found here. Insiders have sold 73,330 shares of company stock valued at $16,256,366 over the last 90 days. Company insiders own 4.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CRM. Dimension Capital Management LLC bought a new position in salesforce.com in the 3rd quarter valued at about $26,000. First Personal Financial Services bought a new position in salesforce.com in the 4th quarter valued at about $32,000. Pacific Center for Financial Services lifted its position in salesforce.com by 1,340.0% in the 4th quarter. Pacific Center for Financial Services now owns 144 shares of the CRM provider’s stock valued at $32,000 after acquiring an additional 134 shares in the last quarter. Larson Financial Group LLC lifted its position in salesforce.com by 93.4% in the 4th quarter. Larson Financial Group LLC now owns 147 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 71 shares in the last quarter. Finally, Flagship Private Wealth LLC purchased a new stake in salesforce.com in the 4th quarter valued at about $33,000. 80.20% of the stock is currently owned by institutional investors.
salesforce.com Company Profile
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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.
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