Salesforce.com Inc (NYSE:CRM)‘s stock had its “buy” rating reiterated by equities research analysts at Citigroup Inc. in a note issued to investors on Wednesday. They presently have a $124.00 target price on the CRM provider’s stock. Citigroup Inc.’s target price indicates a potential upside of 16.07% from the stock’s previous close.

A number of other brokerages also recently weighed in on CRM. J P Morgan Chase & Co reissued a “buy” rating and set a $95.00 price target on shares of Salesforce.com in a research report on Wednesday, August 23rd. Drexel Hamilton reissued a “buy” rating and set a $111.00 price target on shares of Salesforce.com in a research report on Wednesday, August 23rd. Piper Jaffray Companies reissued a “buy” rating and set a $115.00 price target on shares of Salesforce.com in a research report on Wednesday, November 1st. Deutsche Bank AG reissued a “buy” rating and set a $90.00 price target (down previously from $95.00) on shares of Salesforce.com in a research report on Wednesday, August 23rd. Finally, Canaccord Genuity reissued a “buy” rating on shares of Salesforce.com in a research report on Monday, September 11th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and forty-five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $112.39.

Salesforce.com (NYSE:CRM) traded down $1.97 during trading hours on Wednesday, hitting $106.83. The company had a trading volume of 5,549,998 shares, compared to its average volume of 4,394,883. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $77,166.82, a P/E ratio of 536.85, a P/E/G ratio of 10.65 and a beta of 1.24. Salesforce.com has a twelve month low of $66.43 and a twelve month high of $109.19.

Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.65 billion. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The business’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 earnings per share. research analysts anticipate that Salesforce.com will post 0.4 EPS for the current year.

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In other news, insider Parker Harris sold 8,026 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $92.61, for a total transaction of $743,287.86. Following the completion of the sale, the insider now owns 51,571 shares in the company, valued at approximately $4,775,990.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexandre Dayon sold 180,748 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $109.02, for a total transaction of $19,705,146.96. Following the completion of the transaction, the insider now directly owns 210,823 shares of the company’s stock, valued at $22,983,923.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 735,873 shares of company stock valued at $74,038,294. Company insiders own 6.20% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Analysts LLC boosted its holdings in Salesforce.com by 14.1% in the 2nd quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock valued at $110,000 after purchasing an additional 156 shares during the period. Peddock Capital Advisors LLC boosted its holdings in Salesforce.com by 3,000.0% in the 2nd quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock valued at $121,000 after purchasing an additional 1,350 shares during the period. People s United Financial Inc. boosted its holdings in Salesforce.com by 60.1% in the 2nd quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock valued at $127,000 after purchasing an additional 550 shares during the period. Shine Investment Advisory Services Inc. bought a new position in Salesforce.com in the 2nd quarter valued at $130,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in Salesforce.com by 204.3% in the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,400 shares of the CRM provider’s stock valued at $131,000 after purchasing an additional 940 shares during the period. 86.39% of the stock is owned by institutional investors.

About Salesforce.com

Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.

Analyst Recommendations for Salesforce.com (NYSE:CRM)

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