salesforce.com (NYSE:CRM) Given New $325.00 Price Target at JMP Securities

salesforce.com (NYSE:CRM) had its target price upped by JMP Securities from $320.00 to $325.00 in a report released on Friday, Analyst Price Targets reports. The firm currently has a buy rating on the CRM provider’s stock.

CRM has been the subject of several other reports. Zacks Investment Research cut shares of salesforce.com from a hold rating to a sell rating and set a $273.00 price objective for the company. in a report on Wednesday, August 25th. Citigroup increased their price objective on shares of salesforce.com from $250.00 to $280.00 and gave the company a neutral rating in a report on Thursday, August 26th. Redburn Partners started coverage on shares of salesforce.com in a report on Monday, June 28th. They set a buy rating and a $320.00 target price for the company. They noted that the move was a valuation call. Evercore ISI raised their target price on shares of salesforce.com from $290.00 to $300.00 and gave the stock an outperform rating in a report on Wednesday, June 30th. Finally, Royal Bank of Canada set a $310.00 target price on shares of salesforce.com in a report on Wednesday, September 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, salesforce.com currently has a consensus rating of Buy and a consensus target price of $310.17.

CRM opened at $285.63 on Friday. The company’s 50-day moving average price is $254.77 and its 200 day moving average price is $237.86. salesforce.com has a fifty-two week low of $201.51 and a fifty-two week high of $286.36. The firm has a market cap of $279.63 billion, a price-to-earnings ratio of 114.71, a price-to-earnings-growth ratio of 7.35 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.19.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, beating the consensus estimate of $0.92 by $0.56. The company had revenue of $6.34 billion for the quarter, compared to analyst estimates of $6.25 billion. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. salesforce.com’s revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.44 earnings per share. Research analysts anticipate that salesforce.com will post 2.09 earnings per share for the current year.

In other news, insider Srinivas Tallapragada sold 5,000 shares of salesforce.com stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $251.00, for a total transaction of $1,255,000.00. Following the sale, the insider now directly owns 68,921 shares in the company, valued at approximately $17,299,171. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 20,000 shares of salesforce.com stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $245.21, for a total transaction of $4,904,200.00. The disclosure for this sale can be found here. Insiders sold a total of 786,605 shares of company stock worth $198,242,927 over the last 90 days. Company insiders own 4.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Amundi bought a new position in shares of salesforce.com in the second quarter worth about $1,100,891,000. Akre Capital Management LLC bought a new position in shares of salesforce.com in the second quarter worth about $683,956,000. Morgan Stanley raised its stake in shares of salesforce.com by 20.2% in the second quarter. Morgan Stanley now owns 16,563,897 shares of the CRM provider’s stock worth $4,046,065,000 after acquiring an additional 2,787,393 shares during the last quarter. Polen Capital Management LLC raised its stake in shares of salesforce.com by 31.0% in the first quarter. Polen Capital Management LLC now owns 9,228,555 shares of the CRM provider’s stock worth $1,955,254,000 after acquiring an additional 2,186,033 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of salesforce.com by 134.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,472,998 shares of the CRM provider’s stock worth $735,824,000 after buying an additional 1,993,259 shares during the last quarter. 77.33% of the stock is owned by hedge funds and other institutional investors.

About salesforce.com

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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