salesforce.com (CRM) Price Target Raised to $133.00
salesforce.com (NYSE:CRM) had its price objective hoisted by BMO Capital Markets from $118.00 to $133.00 in a research report released on Thursday morning, Marketbeat reports. The firm currently has an outperform rating on the CRM provider’s stock.
A number of other brokerages have also recently issued reports on CRM. Vetr cut salesforce.com from a buy rating to a hold rating and set a $107.78 target price for the company. in a research report on Monday, December 11th. Piper Jaffray Companies reissued a buy rating and issued a $115.00 target price on shares of salesforce.com in a research report on Wednesday, November 1st. Cowen upped their target price on salesforce.com from $118.00 to $130.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. Oppenheimer reissued a buy rating and issued a $125.00 target price (up from $100.00) on shares of salesforce.com in a research report on Wednesday, November 22nd. Finally, Credit Suisse Group reissued an outperform rating and issued a $130.00 target price (up from $120.00) on shares of salesforce.com in a research report on Tuesday, February 20th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and forty-five have given a buy rating to the stock. salesforce.com presently has an average rating of Buy and a consensus target price of $121.20.
salesforce.com (NYSE:CRM) opened at $121.92 on Thursday. salesforce.com has a 1-year low of $80.50 and a 1-year high of $122.47. The company has a market capitalization of $88,062.82, a PE ratio of 717.22, a PEG ratio of 6.96 and a beta of 1.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.82.
In related news, insider Mark J. Hawkins sold 39,780 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $103.72, for a total value of $4,125,981.60. Following the completion of the transaction, the insider now directly owns 58,719 shares of the company’s stock, valued at approximately $6,090,334.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Joe Allanson sold 321 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $113.47, for a total value of $36,423.87. Following the completion of the transaction, the chief accounting officer now directly owns 30,618 shares of the company’s stock, valued at $3,474,224.46. The disclosure for this sale can be found here. Insiders sold a total of 276,444 shares of company stock valued at $30,262,857 over the last ninety days. 6.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its position in salesforce.com by 196.4% during the fourth quarter. Bessemer Group Inc. now owns 1,150 shares of the CRM provider’s stock worth $118,000 after buying an additional 762 shares in the last quarter. First Mercantile Trust Co. purchased a new position in salesforce.com during the fourth quarter worth $123,000. Cerebellum GP LLC purchased a new position in salesforce.com during the fourth quarter worth $125,000. Icon Wealth Partners LLC purchased a new position in salesforce.com during the fourth quarter worth $131,000. Finally, Truewealth LLC purchased a new position in salesforce.com during the fourth quarter worth $133,000. 85.82% of the stock is owned by hedge funds and other institutional investors.
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.
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