Piper Jaffray Companies Initiates Coverage on salesforce.com (NYSE:CRM)

Piper Jaffray Companies assumed coverage on shares of salesforce.com (NYSE:CRM) in a note issued to investors on Wednesday, FinViz reports. The brokerage set an “overweight” rating and a $190.00 price target on the CRM provider’s stock. Piper Jaffray Companies’ price objective suggests a potential upside of 16.85% from the company’s current price.

Several other brokerages have also recently issued reports on CRM. Morgan Stanley upped their price objective on salesforce.com from $178.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. OTR Global upgraded salesforce.com to a “positive” rating in a research note on Thursday, August 15th. BMO Capital Markets upped their price objective on salesforce.com from $185.00 to $188.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Jefferies Financial Group restated a “buy” rating and set a $171.00 price objective on shares of salesforce.com in a research note on Tuesday, October 8th. Finally, UBS Group set a $190.00 price objective on salesforce.com and gave the company a “buy” rating in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company. salesforce.com has a consensus rating of “Buy” and an average price target of $185.60.

Shares of CRM opened at $162.60 on Wednesday. The company has a market capitalization of $141.29 billion, a P/E ratio of 112.14, a P/E/G ratio of 6.90 and a beta of 1.22. salesforce.com has a one year low of $113.60 and a one year high of $167.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50-day moving average price of $151.43 and a 200 day moving average price of $153.23.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.57. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. salesforce.com’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 earnings per share. As a group, equities research analysts forecast that salesforce.com will post 1.25 earnings per share for the current fiscal year.

In other news, Director Sanford Robertson sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $155.67, for a total transaction of $3,891,750.00. Following the sale, the director now directly owns 124,017 shares in the company, valued at approximately $19,305,726.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexandre Dayon sold 1,452 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $155.57, for a total value of $225,887.64. Following the sale, the insider now owns 50,155 shares in the company, valued at $7,802,613.35. The disclosure for this sale can be found here. Insiders have sold a total of 245,199 shares of company stock worth $37,261,497 over the last quarter. Insiders own 5.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in CRM. WT Wealth Management acquired a new stake in salesforce.com in the 3rd quarter valued at approximately $414,000. Lyell Wealth Management LP increased its position in salesforce.com by 3.8% in the 3rd quarter. Lyell Wealth Management LP now owns 41,870 shares of the CRM provider’s stock valued at $6,215,000 after acquiring an additional 1,537 shares during the period. Cetera Advisors LLC increased its position in salesforce.com by 357.5% in the 3rd quarter. Cetera Advisors LLC now owns 50,856 shares of the CRM provider’s stock valued at $7,556,000 after acquiring an additional 39,740 shares during the period. Cetera Advisor Networks LLC increased its position in salesforce.com by 9.1% in the 3rd quarter. Cetera Advisor Networks LLC now owns 17,497 shares of the CRM provider’s stock valued at $2,601,000 after acquiring an additional 1,465 shares during the period. Finally, Checchi Capital Advisers LLC increased its position in salesforce.com by 5.0% in the 3rd quarter. Checchi Capital Advisers LLC now owns 5,996 shares of the CRM provider’s stock valued at $890,000 after acquiring an additional 286 shares during the period. Institutional investors and hedge funds own 74.11% of the company’s stock.

salesforce.com Company Profile

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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