salesforce.com (NYSE:CRM) had its price target raised by research analysts at BMO Capital Markets from $310.00 to $335.00 in a research report issued on Friday, The Fly reports. The brokerage presently has an “outperform” rating on the CRM provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 17.28% from the stock’s previous close.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of salesforce.com from a “hold” rating to a “sell” rating and set a $273.00 price target on the stock. in a research report on Wednesday, August 25th. UBS Group boosted their price target on shares of salesforce.com from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday. Roth Capital boosted their price target on shares of salesforce.com from $200.00 to $242.00 and gave the stock a “neutral” rating in a research report on Thursday, August 26th. Piper Sandler upgraded shares of salesforce.com from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $280.00 to $365.00 in a research report on Friday. Finally, Nord/LB set a $275.00 target price on shares of salesforce.com in a report on Tuesday, September 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $310.78.
Shares of NYSE CRM opened at $285.63 on Friday. The company’s 50-day simple moving average is $254.77 and its 200-day simple moving average is $238.04. salesforce.com has a 52-week low of $201.51 and a 52-week high of $286.36. The firm has a market cap of $279.63 billion, a price-to-earnings ratio of 114.71, a price-to-earnings-growth ratio of 7.35 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.19.
In other news, CEO Marc Benioff sold 20,000 shares of the company’s stock in a transaction on Monday, July 19th. The shares were sold at an average price of $236.17, for a total value of $4,723,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Bret Steven Taylor sold 1,152 shares of the company’s stock in a transaction on Thursday, September 23rd. The shares were sold at an average price of $272.20, for a total transaction of $313,574.40. 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 in the last quarter. 4.10% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Atlas Private Wealth Advisors boosted its holdings in shares of salesforce.com by 115.3% in the 2nd quarter. Atlas Private Wealth Advisors now owns 127 shares of the CRM provider’s stock valued at $31,000 after buying an additional 68 shares in the last quarter. First PREMIER Bank acquired a new position in shares of salesforce.com in the 2nd quarter valued at $32,000. Sage Financial Management Group Inc. acquired a new position in shares of salesforce.com in the 1st quarter valued at $32,000. Providence Capital Advisors LLC boosted its stake in salesforce.com by 87.2% during the 1st quarter. Providence Capital Advisors LLC now owns 161 shares of the CRM provider’s stock worth $34,000 after purchasing an additional 75 shares during the period. Finally, Duncker Streett & Co. Inc. boosted its stake in salesforce.com by 35.8% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 163 shares of the CRM provider’s stock worth $40,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 77.33% of the company’s stock.
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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