Goldman Sachs Group Reiterates Buy Rating for salesforce.com (NYSE:CRM)

Goldman Sachs Group reiterated their buy rating on shares of salesforce.com (NYSE:CRM) in a report issued on Wednesday, Borsen Zeitung reports. They currently have a $191.00 price objective on the CRM provider’s stock.

Other research analysts have also recently issued reports about the stock. UBS Group set a $190.00 price objective on shares of salesforce.com and gave the company a buy rating in a research note on Friday, August 23rd. Mizuho restated a buy rating and set a $195.00 target price on shares of salesforce.com in a research note on Thursday, November 21st. OTR Global raised salesforce.com to a positive rating in a report on Thursday, August 15th. Stifel Nicolaus lifted their price target on salesforce.com from $185.00 to $195.00 and gave the company a buy rating in a research note on Friday, August 23rd. Finally, Macquarie lifted their price target on salesforce.com from $184.00 to $190.00 and gave the company an outperform rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $189.68.

Shares of salesforce.com stock opened at $158.01 on Wednesday. The company has a market capitalization of $138.57 billion, a price-to-earnings ratio of 108.97, a PEG ratio of 7.00 and a beta of 1.24. 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 12-month low of $120.16 and a 12-month high of $167.56. The firm’s 50-day moving average price is $157.59 and its two-hundred day moving average price is $153.43.

salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 EPS 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 net margin of 6.45% and a return on equity of 7.26%. The business’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. On average, sell-side analysts expect that salesforce.com will post 1.24 earnings per share for the current year.

In other news, CEO Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $158.01, for a total transaction of $1,580,100.00. Also, insider Parker Harris sold 620 shares of salesforce.com stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $149.85, for a total transaction of $92,907.00. Following the transaction, the insider now owns 31,375 shares in the company, valued at approximately $4,701,543.75. The disclosure for this sale can be found here. Insiders have sold a total of 300,065 shares of company stock worth $46,846,882 over the last three months. Insiders own 5.50% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Investors Research Corp raised its position in shares of salesforce.com by 159.1% during the third quarter. Investors Research Corp now owns 171 shares of the CRM provider’s stock worth $25,000 after acquiring an additional 105 shares during the last quarter. Massey Quick Simon & CO. LLC acquired a new position in shares of salesforce.com in the second quarter worth approximately $26,000. Personal Wealth Partners bought a new stake in salesforce.com in the second quarter valued at approximately $28,000. Acima Private Wealth LLC boosted its holdings in salesforce.com by 250.0% in the third quarter. Acima Private Wealth LLC now owns 189 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 135 shares during the last quarter. Finally, Enterprise Trust & Investment Co boosted its holdings in salesforce.com by 234.4% in the third quarter. Enterprise Trust & Investment Co now owns 204 shares of the CRM provider’s stock valued at $30,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds own 81.32% of the company’s stock.

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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Analyst Recommendations for salesforce.com (NYSE:CRM)

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