salesforce.com’s (CRM) Buy Rating Reiterated at Cowen

Cowen reissued their buy rating on shares of salesforce.com (NYSE:CRM) in a research note issued to investors on Wednesday morning, Stock Target Advisor reports. They currently have a $195.00 price target on the CRM provider’s stock.

A number of other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. reiterated a buy rating and issued a $200.00 target price on shares of salesforce.com in a report on Wednesday. ValuEngine cut shares of salesforce.com from a buy rating to a hold rating in a report on Wednesday, October 2nd. Goldman Sachs Group reaffirmed a buy rating and set a $191.00 price objective on shares of salesforce.com in a research report on Wednesday. UBS Group reiterated a buy rating and issued a $190.00 price objective on shares of salesforce.com in a research note on Wednesday. Finally, Wedbush reiterated an outperform rating and issued a $192.00 price objective on shares of salesforce.com in a research note on Thursday, November 21st. Five analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. salesforce.com presently has a consensus rating of Buy and a consensus price target of $189.68.

Shares of salesforce.com stock traded down $0.21 during midday trading on Wednesday, hitting $158.01. The company’s stock had a trading volume of 4,751,083 shares, compared to its average volume of 5,750,506. The firm has a market capitalization of $138.57 billion, a P/E ratio of 108.97, a PEG ratio of 7.00 and a beta of 1.24. The stock has a 50-day simple moving average of $157.59 and a 200-day simple moving average of $153.43. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. salesforce.com has a 1-year low of $120.16 and a 1-year high of $167.56.

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

In other salesforce.com news, CAO Joe Allanson sold 167 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $154.07, for a total transaction of $25,729.69. Following the completion of the sale, the chief accounting officer now owns 30,958 shares of the company’s stock, valued at $4,769,699.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $158.01, for a total value of $1,580,100.00. In the last three months, insiders have sold 300,065 shares of company stock worth $46,846,882. 5.50% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Investors Research Corp grew its position in shares of salesforce.com by 159.1% in the third quarter. Investors Research Corp now owns 171 shares of the CRM provider’s stock valued at $25,000 after purchasing an additional 105 shares during the last quarter. Massey Quick Simon & CO. LLC acquired a new stake in salesforce.com in the 2nd quarter valued at approximately $26,000. Personal Wealth Partners bought a new position in salesforce.com in the 2nd quarter worth approximately $28,000. Acima Private Wealth LLC increased its position in salesforce.com by 250.0% in the 3rd quarter. Acima Private Wealth LLC now owns 189 shares of the CRM provider’s stock worth $28,000 after buying an additional 135 shares during the period. Finally, Enterprise Trust & Investment Co lifted its holdings in shares of salesforce.com by 234.4% during the third quarter. Enterprise Trust & Investment Co now owns 204 shares of the CRM provider’s stock worth $30,000 after buying an additional 143 shares during the last quarter. Institutional investors and hedge funds 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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Analyst Recommendations for salesforce.com (NYSE:CRM)

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