Credit Suisse Group Reiterates “Outperform” Rating for salesforce.com (NYSE:CRM)

salesforce.com (NYSE:CRM)‘s stock had its “outperform” rating restated by research analysts at Credit Suisse Group in a research report issued on Wednesday, The Fly reports. They currently have a $185.00 price objective on the CRM provider’s stock, up from their previous price objective of $175.00. Credit Suisse Group’s price objective points to a potential upside of 14.50% from the stock’s current price.

A number of other research firms have also issued reports on CRM. Nomura upped their price target on salesforce.com from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Royal Bank of Canada lifted their price objective on salesforce.com from $181.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. They noted that the move was a valuation call. Zacks Investment Research lowered salesforce.com from a “buy” rating to a “hold” rating and set a $166.00 price objective on the stock. in a research note on Thursday, October 31st. UBS Group set a $190.00 target price on salesforce.com and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, OTR Global raised salesforce.com to a “positive” rating in a research note on Thursday, August 15th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $188.56.

CRM opened at $161.57 on Wednesday. salesforce.com has a twelve month low of $120.16 and a twelve month high of $167.56. The firm has a market capitalization of $142.85 billion, a PE ratio of 111.43, a PEG ratio of 7.00 and a beta of 1.24. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $157.11 and its 200 day moving average price is $153.41.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.09. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The company had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. salesforce.com’s quarterly revenue was up 33.0% on a year-over-year basis. As a group, analysts predict that salesforce.com will post 1.24 earnings per share for the current fiscal year.

In related news, insider Parker Harris sold 620 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $149.85, for a total value of $92,907.00. Following the sale, the insider now owns 31,375 shares in the company, valued at approximately $4,701,543.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Srinivas Tallapragada sold 1,608 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $162.57, for a total value of $261,412.56. Following the completion of the sale, the insider now owns 34,719 shares in the company, valued at approximately $5,644,267.83. The disclosure for this sale can be found here. Insiders sold a total of 295,065 shares of company stock worth $46,033,032 over the last three months. Insiders own 5.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Ibex Wealth Advisors purchased a new position in shares of salesforce.com in the second quarter valued at approximately $63,000. Aviva PLC grew its holdings in shares of salesforce.com by 0.6% in the second quarter. Aviva PLC now owns 495,861 shares of the CRM provider’s stock valued at $75,237,000 after purchasing an additional 3,145 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in salesforce.com by 22.6% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 131,934 shares of the CRM provider’s stock worth $20,018,000 after buying an additional 24,354 shares during the period. Impax Asset Management Group plc increased its stake in salesforce.com by 10.1% during the 2nd quarter. Impax Asset Management Group plc now owns 102,272 shares of the CRM provider’s stock worth $15,518,000 after buying an additional 9,383 shares during the period. Finally, MidWestOne Financial Group Inc. purchased a new stake in salesforce.com during the 2nd quarter worth approximately $756,000. Institutional investors own 81.32% 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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The Fly

Analyst Recommendations for salesforce.com (NYSE:CRM)

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