salesforce.com (NYSE:CRM) PT Lowered to $184.00 at Wedbush

salesforce.com (NYSE:CRM) had its target price trimmed by Wedbush from $217.00 to $184.00 in a research report sent to investors on Wednesday morning, Briefing.com Automated Import reports. The brokerage currently has an outperform rating on the CRM provider’s stock.

CRM has been the topic of a number of other research reports. Piper Sandler cut their target price on salesforce.com from $205.00 to $193.00 and set an overweight rating on the stock in a research note on Tuesday. ValuEngine raised salesforce.com from a hold rating to a buy rating in a research note on Friday, March 13th. Needham & Company LLC reissued a hold rating on shares of salesforce.com in a research note on Wednesday, December 4th. Oppenheimer dropped their price objective on salesforce.com from $205.00 to $165.00 and set an outperform rating on the stock in a research note on Tuesday, March 17th. Finally, Roth Capital increased their price objective on salesforce.com from to in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have given a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $198.15.

Shares of CRM traded down $0.01 during mid-day trading on Wednesday, reaching $134.31. 6,002,129 shares of the company’s stock traded hands, compared to its average volume of 10,814,788. The stock has a market cap of $120.22 billion, a P/E ratio of 671.58, a P/E/G ratio of 5.91 and a beta of 1.10. The stock’s 50-day moving average is $162.95 and its two-hundred day moving average is $163.09. salesforce.com has a 12 month low of $115.29 and a 12 month high of $195.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.08 and a quick ratio of 1.08.

salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, February 25th. The CRM provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.10. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.75 billion. salesforce.com had a return on equity of 3.61% and a net margin of 0.74%. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Research analysts predict that salesforce.com will post 1.26 earnings per share for the current year.

In related news, COO Bret Steven Taylor sold 4,706 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $136.77, for a total value of $643,639.62. Following the completion of the transaction, the chief operating officer now owns 1,089,764 shares in the company, valued at approximately $149,047,022.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $126.00, for a total value of $1,260,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 3,300 shares of company stock valued at $566,544 and sold 411,930 shares valued at $70,144,887. Company insiders own 5.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aviance Capital Partners LLC raised its stake in shares of salesforce.com by 1.9% during the 4th quarter. Aviance Capital Partners LLC now owns 10,600 shares of the CRM provider’s stock valued at $1,724,000 after buying an additional 198 shares during the last quarter. Birch Hill Investment Advisors LLC raised its stake in shares of salesforce.com by 8.8% during the 4th quarter. Birch Hill Investment Advisors LLC now owns 11,235 shares of the CRM provider’s stock valued at $1,827,000 after buying an additional 905 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new position in shares of salesforce.com during the 4th quarter valued at about $734,000. Chicago Partners Investment Group LLC raised its stake in shares of salesforce.com by 32.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 1,943 shares of the CRM provider’s stock valued at $355,000 after buying an additional 471 shares during the last quarter. Finally, Clarus Wealth Advisors raised its stake in shares of salesforce.com by 9.4% during the 4th quarter. Clarus Wealth Advisors now owns 3,280 shares of the CRM provider’s stock valued at $589,000 after buying an additional 283 shares during the last quarter. Institutional investors and hedge funds own 82.25% 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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