Deutsche Bank Increases salesforce.com (CRM) Price Target to $140.00
salesforce.com (NYSE:CRM) had its target price lifted by analysts at Deutsche Bank from $130.00 to $140.00 in a report released on Thursday. The firm currently has a “buy” rating on the CRM provider’s stock. Deutsche Bank’s price target would indicate a potential upside of 14.83% from the company’s previous close.
A number of other equities research analysts also recently issued reports on the company. BMO Capital Markets increased their price objective on salesforce.com from $112.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 22nd. Royal Bank of Canada reiterated a “buy” rating on shares of salesforce.com in a research report on Thursday, November 9th. KeyCorp reiterated a “buy” rating and issued a $108.00 price objective on shares of salesforce.com in a research report on Wednesday, November 8th. Morgan Stanley reiterated an “overweight” rating and issued a $127.00 price objective (up previously from $107.00) on shares of salesforce.com in a research report on Thursday, November 16th. Finally, Vetr upgraded salesforce.com from a “hold” rating to a “buy” rating and set a $110.67 price objective on the stock in a research report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and forty-five have issued a buy rating to the company. salesforce.com presently has a consensus rating of “Buy” and a consensus price target of $121.15.
Shares of salesforce.com (NYSE:CRM) opened at $121.92 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.82. salesforce.com has a 12-month low of $80.50 and a 12-month high of $122.47. The stock has a market capitalization of $86,264.30, a price-to-earnings ratio of 717.22, a P/E/G ratio of 6.62 and a beta of 1.25.
In other salesforce.com news, insider Alexandre Dayon sold 1,015 shares of salesforce.com stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $113.47, for a total transaction of $115,172.05. Following the sale, the insider now directly owns 17,452 shares of the company’s stock, valued at approximately $1,980,278.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Marc Benioff sold 5,000 shares of salesforce.com stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $120.20, for a total value of $601,000.00. The disclosure for this sale can be found here. Insiders sold 276,444 shares of company stock worth $30,262,857 over the last three months. 6.20% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. boosted its position in salesforce.com by 196.4% during the 4th quarter. Bessemer Group Inc. now owns 1,150 shares of the CRM provider’s stock valued at $118,000 after acquiring an additional 762 shares in the last quarter. First Mercantile Trust Co. bought a new stake in salesforce.com during the 4th quarter valued at approximately $123,000. Cerebellum GP LLC bought a new stake in salesforce.com during the 4th quarter valued at approximately $125,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in salesforce.com by 204.3% during 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 acquiring an additional 940 shares in the last quarter. Finally, Icon Wealth Partners LLC bought a new stake in salesforce.com during the 4th quarter valued at approximately $131,000. 86.01% of the stock is currently owned by institutional investors and hedge funds.
salesforce.com Company Profile
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.
Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.