Robert W. Baird Increases salesforce.com (CRM) Price Target to $150.00

salesforce.com (NYSE:CRM) had its price target raised by equities research analysts at Robert W. Baird from $135.00 to $150.00 in a research note issued to investors on Wednesday. The brokerage currently has an “outperform” rating on the CRM provider’s stock. Robert W. Baird’s price target would suggest a potential upside of 15.98% from the stock’s current price.

Several other brokerages have also recently commented on CRM. Morgan Stanley boosted their price target on salesforce.com from $134.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, March 2nd. Barclays boosted their price target on salesforce.com from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 21st. Vetr cut salesforce.com from a “buy” rating to a “hold” rating and set a $113.54 price target for the company. in a research report on Monday, February 19th. Cleveland Research initiated coverage on salesforce.com in a research report on Wednesday, January 31st. They set a “buy” rating for the company. Finally, UBS Group set a $144.00 price target on salesforce.com and gave the stock a “buy” rating in a research report on Wednesday, March 21st. Five research analysts have rated the stock with a hold rating, forty-seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $133.75.

salesforce.com opened at $129.33 on Wednesday, MarketBeat.com reports. The company has a market capitalization of $92.78 billion, a PE ratio of 287.40, a price-to-earnings-growth ratio of 5.36 and a beta of 1.24. salesforce.com has a 12 month low of $83.55 and a 12 month high of $132.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.92.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Tuesday, May 29th. The CRM provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.28. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.94 billion. salesforce.com had a return on equity of 7.69% and a net margin of 4.33%. The business’s revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 earnings per share. equities analysts predict that salesforce.com will post 0.98 EPS for the current fiscal year.

In other news, Director Susan Wojcicki bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The shares were purchased at an average price of $132.00 per share, with a total value of $792,000.00. Following the purchase, the director now owns 64,926 shares in the company, valued at $8,570,232. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Marc Benioff sold 5,000 shares of the stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $121.63, for a total value of $608,150.00. The disclosure for this sale can be found here. In the last three months, insiders have purchased 18,000 shares of company stock worth $2,301,780 and have sold 518,281 shares worth $63,975,378. 6.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CRM. Bessemer Group Inc. increased its holdings in salesforce.com by 196.4% during the 4th quarter. Bessemer Group Inc. now owns 1,150 shares of the CRM provider’s stock worth $118,000 after purchasing an additional 762 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in salesforce.com by 64.1% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,047 shares of the CRM provider’s stock worth $121,000 after purchasing an additional 409 shares during the period. First Mercantile Trust Co. purchased a new stake in salesforce.com during the 4th quarter worth about $123,000. TLP Group LLC increased its holdings in salesforce.com by 353.9% during the 1st quarter. TLP Group LLC now owns 1,103 shares of the CRM provider’s stock worth $128,000 after purchasing an additional 860 shares during the period. Finally, Icon Wealth Partners LLC purchased a new stake in salesforce.com during the 4th quarter worth about $131,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

About salesforce.com

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.

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