Evercore ISI set a $190.00 target price on salesforce.com (NYSE:CRM) in a report released on Wednesday morning, TipRanks reports. The firm currently has a buy rating on the CRM provider’s stock.
Several other analysts have also recently weighed in on the stock. Credit Suisse Group restated an outperform rating on shares of salesforce.com in a research report on Thursday, June 6th. OTR Global cut shares of salesforce.com to a positive rating in a research report on Wednesday, May 15th. Jefferies Financial Group set a $189.00 price objective on shares of salesforce.com and gave the company a buy rating in a research report on Monday, July 15th. Barclays restated a buy rating and set a $182.00 price objective on shares of salesforce.com in a research report on Tuesday, June 11th. Finally, Monness Crespi & Hardt restated a buy rating and set a $200.00 price objective (up previously from $195.00) on shares of salesforce.com in a research report on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $180.38.
Shares of salesforce.com stock traded down $0.45 on Wednesday, hitting $143.37. 4,547,712 shares of the company traded hands, compared to its average volume of 7,384,053. The company’s 50-day simple moving average is $153.92. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $111.60 billion, a P/E ratio of 98.88, a P/E/G ratio of 5.28 and a beta of 1.27. salesforce.com has a 12-month low of $113.60 and a 12-month high of $167.56.
In other salesforce.com news, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $142.49, for a total value of $1,424,900.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Amy E. Weaver sold 6,409 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $153.92, for a total transaction of $986,473.28. Following the completion of the sale, the general counsel now directly owns 32,650 shares in the company, valued at approximately $5,025,488. The disclosure for this sale can be found here. In the last three months, insiders sold 330,337 shares of company stock worth $50,914,425. Insiders own 5.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CRM. Avondale Wealth Management boosted its stake in shares of salesforce.com by 100.0% during the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Massey Quick Simon & CO. LLC bought a new stake in shares of salesforce.com during the 2nd quarter valued at about $26,000. Citizens Financial Group Inc RI bought a new stake in shares of salesforce.com during the 1st quarter valued at about $27,000. Arcadia Investment Management Corp MI boosted its stake in shares of salesforce.com by 63.0% during the 1st quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Finally, Avestar Capital LLC boosted its stake in shares of salesforce.com by 108.7% during the 1st quarter. Avestar Capital LLC now owns 192 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. 81.64% of the stock is currently owned by institutional investors and hedge funds.
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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