salesforce.com (CRM) Stock Rating Reaffirmed by Cowen
Cowen reiterated their outperform rating on shares of salesforce.com (NYSE:CRM) in a research report released on Thursday morning. The firm currently has a $135.00 price objective on the CRM provider’s stock, up from their previous price objective of $130.00.
CRM has been the topic of a number of other reports. Credit Suisse Group boosted their target price on salesforce.com from $115.00 to $120.00 and gave the stock an outperform rating in a research report on Friday, November 17th. SunTrust Banks boosted their target price on salesforce.com to $133.00 and gave the stock a buy rating in a research report on Thursday. Needham & Company LLC reaffirmed a hold rating on shares of salesforce.com in a research report on Wednesday, November 22nd. BMO Capital Markets boosted their target price on salesforce.com from $112.00 to $118.00 and gave the stock an outperform rating in a research report on Wednesday, November 22nd. Finally, Goldman Sachs Group set a $122.00 target price on salesforce.com and gave the stock a buy rating in a research report on Thursday, November 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and forty-five have given a buy rating to the company. salesforce.com presently has a consensus rating of Buy and a consensus target price of $121.15.
Shares of salesforce.com (CRM) traded up $2.49 during trading on Thursday, hitting $121.92. The stock had a trading volume of 10,627,548 shares, compared to its average volume of 5,680,000. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.82 and a current ratio of 0.92. The firm has a market capitalization of $88,060.00, a price-to-earnings ratio of 717.18, a price-to-earnings-growth ratio of 6.75 and a beta of 1.25. salesforce.com has a twelve month low of $80.50 and a twelve month high of $122.47.
In other news, insider Mark J. Hawkins sold 16,844 shares of the company’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $101.75, for a total transaction of $1,713,877.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Joe Allanson sold 321 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $113.47, for a total value of $36,423.87. Following the sale, the chief accounting officer now owns 30,618 shares of the company’s stock, valued at approximately $3,474,224.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,444 shares of company stock worth $30,262,857. Insiders own 6.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Ark Investment Management LLC boosted its stake in shares of salesforce.com by 38.3% during the 2nd quarter. Ark Investment Management LLC now owns 111,279 shares of the CRM provider’s stock worth $9,637,000 after acquiring an additional 30,792 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of salesforce.com by 1.4% during the 3rd quarter. Nationwide Fund Advisors now owns 243,771 shares of the CRM provider’s stock worth $22,773,000 after acquiring an additional 3,345 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of salesforce.com by 8.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 288,562 shares of the CRM provider’s stock worth $26,957,000 after acquiring an additional 21,733 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of salesforce.com during the 3rd quarter worth about $5,761,000. Finally, Heritage Investors Management Corp bought a new stake in shares of salesforce.com during the 3rd quarter worth about $405,000. Institutional investors own 86.01% of the company’s stock.
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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.
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