salesforce.com (CRM) PT Raised to $150.00 at Stifel Nicolaus

salesforce.com (NYSE:CRM) had its price objective lifted by analysts at Stifel Nicolaus from $142.00 to $150.00 in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the CRM provider’s stock. Stifel Nicolaus’ target price indicates a potential upside of 15.98% from the stock’s current price.

Several other research firms have also recently issued reports on CRM. Citigroup upped their target price on shares of salesforce.com from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, March 1st. Cowen upped their target price on shares of salesforce.com from $118.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Sanford C. Bernstein upgraded shares of salesforce.com from an “underperform” rating to a “market perform” rating in a research note on Thursday, May 3rd. Canaccord Genuity upped their target price on shares of salesforce.com from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Credit Suisse Group restated an “outperform” rating and set a $130.00 target price (up previously from $120.00) on shares of salesforce.com in a research note on Tuesday, February 20th. Five equities research analysts have rated the stock with a hold rating, forty-seven have given a buy rating and one has issued a strong buy rating to the company. salesforce.com currently has an average rating of “Buy” and a consensus price target of $133.75.

salesforce.com opened at $129.33 on Wednesday, according to Marketbeat.com. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.07. The stock has a market cap of $92.78 billion, a price-to-earnings ratio of 287.40, a P/E/G ratio of 5.36 and a beta of 1.24. salesforce.com has a 52-week low of $83.55 and a 52-week high of $132.55.

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

In related news, Director Craig Conway sold 250 shares of the firm’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $120.83, for a total value of $30,207.50. Following the completion of the transaction, the director now directly owns 9,036 shares of the company’s stock, valued at $1,091,819.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Marc Benioff sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $129.69, for a total transaction of $648,450.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 18,000 shares of company stock valued at $2,301,780 and have sold 518,281 shares valued at $63,975,378. Company insiders own 6.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd grew its holdings in shares of salesforce.com by 64.1% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,047 shares of the CRM provider’s stock valued at $121,000 after purchasing an additional 409 shares in the last quarter. Sandy Spring Bank grew its holdings in shares of salesforce.com by 1.7% in the fourth quarter. Sandy Spring Bank now owns 27,382 shares of the CRM provider’s stock valued at $2,799,000 after purchasing an additional 470 shares in the last quarter. Mogy Joel R Investment Counsel Inc. grew its holdings in shares of salesforce.com by 0.3% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 187,886 shares of the CRM provider’s stock valued at $21,851,000 after purchasing an additional 475 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of salesforce.com by 17.5% in the fourth quarter. Cetera Advisors LLC now owns 3,259 shares of the CRM provider’s stock valued at $334,000 after purchasing an additional 485 shares in the last quarter. Finally, Zeke Capital Advisors LLC grew its holdings in shares of salesforce.com by 3.1% in the first quarter. Zeke Capital Advisors LLC now owns 15,968 shares of the CRM provider’s stock valued at $1,857,000 after purchasing an additional 487 shares in the last quarter. 85.07% of the stock is 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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