salesforce.com (CRM) Price Target Raised to $135.00 at Canaccord Genuity
salesforce.com (NYSE:CRM) had its price target boosted by Canaccord Genuity from $130.00 to $135.00 in a research report released on Thursday. Canaccord Genuity currently has a buy rating on the CRM provider’s stock.
Other equities analysts have also issued reports about the stock. Guggenheim restated a buy rating and issued a $128.00 price objective on shares of salesforce.com in a research report on Thursday, January 11th. Cleveland Research began coverage on shares of salesforce.com in a research report on Wednesday, January 31st. They issued a buy rating for the company. Mizuho raised their price objective on shares of salesforce.com from $120.00 to $140.00 and gave the company a buy rating in a research report on Thursday. Stifel Nicolaus raised their price objective on shares of salesforce.com from $120.00 to $142.00 and gave the company a buy rating in a research report on Thursday. Finally, BTIG Research raised their price objective on shares of salesforce.com to $120.00 and gave the company a buy rating in a research report on Wednesday, November 8th. Three 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. The company currently has an average rating of Buy and a consensus target price of $121.20.
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 1 year low of $80.50 and a 1 year high of $122.47. The company has a market cap of $88,062.82, a P/E ratio of 717.22, a PEG ratio of 6.96 and a beta of 1.25.
In related news, insider Mark J. Hawkins sold 16,844 shares of salesforce.com stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $101.75, for a total value of $1,713,877.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark J. Hawkins sold 39,780 shares of salesforce.com stock in a transaction on Monday, December 11th. The stock was sold at an average price of $103.72, for a total transaction of $4,125,981.60. Following the completion of the transaction, the insider now directly owns 58,719 shares in the company, valued at $6,090,334.68. 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. 6.20% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of CRM. Ark Investment Management LLC increased its position in salesforce.com by 38.3% during the 2nd quarter. Ark Investment Management LLC now owns 111,279 shares of the CRM provider’s stock valued at $9,637,000 after purchasing an additional 30,792 shares during the period. Nationwide Fund Advisors increased its position in salesforce.com by 1.4% during the 3rd quarter. Nationwide Fund Advisors now owns 243,771 shares of the CRM provider’s stock valued at $22,773,000 after purchasing an additional 3,345 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in 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 valued at $26,957,000 after purchasing an additional 21,733 shares during the period. Crossmark Global Holdings Inc. purchased a new position in salesforce.com during the 3rd quarter valued at $5,761,000. Finally, Heritage Investors Management Corp purchased a new position in salesforce.com during the 3rd quarter valued at $405,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.
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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