Salesforce.com Inc (CRM) Given a $130.00 Price Target at Societe Generale

Societe Generale set a $130.00 price target on Salesforce.com Inc (NYSE:CRM) in a research note issued to investors on Wednesday. The brokerage currently has a buy rating on the CRM provider’s stock.

Several other research analysts have also recently weighed in on the stock. Mizuho reissued a buy rating and issued a $120.00 price target (up from $110.00) on shares of Salesforce.com in a report on Monday, November 13th. Zacks Investment Research cut shares of Salesforce.com from a hold rating to a sell rating in a report on Friday, November 10th. Royal Bank Of Canada reissued a buy rating on shares of Salesforce.com in a report on Thursday, November 9th. UBS AG assumed coverage on shares of Salesforce.com in a report on Thursday, November 9th. They issued a buy rating on the stock. Finally, Wedbush reissued an outperform rating and issued a $108.00 price target on shares of Salesforce.com in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and forty-six have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $108.49.

Shares of Salesforce.com (CRM) opened at $107.58 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.08. The stock has a market cap of $77,317.75, a PE ratio of 537.90, a PEG ratio of 10.67 and a beta of 1.24. Salesforce.com has a fifty-two week low of $66.43 and a fifty-two week high of $107.87.

Salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.24. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. Salesforce.com’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. analysts predict that Salesforce.com will post 0.4 earnings per share for the current year.

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In other news, insider Parker Harris sold 8,027 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $92.75, for a total value of $744,504.25. Following the sale, the insider now owns 49,913 shares of the company’s stock, valued at $4,629,430.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Keith Block sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $106.79, for a total transaction of $1,067,900.00. Following the completion of the sale, the insider now directly owns 24,154 shares in the company, valued at approximately $2,579,405.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 553,725 shares of company stock worth $54,048,238. Corporate insiders own 6.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Moors & Cabot Inc. bought a new stake in Salesforce.com during the 3rd quarter worth approximately $965,000. Cypress Capital Group increased its holdings in Salesforce.com by 80.1% during the 3rd quarter. Cypress Capital Group now owns 29,439 shares of the CRM provider’s stock worth $2,750,000 after acquiring an additional 13,090 shares during the period. IFM Investors Pty Ltd increased its holdings in shares of Salesforce.com by 5.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 18,899 shares of the CRM provider’s stock worth $1,766,000 after buying an additional 929 shares during the last quarter. Insight Capital Research & Management Inc. bought a new position in shares of Salesforce.com in the 3rd quarter worth $1,844,000. Finally, Piedmont Investment Advisors LLC increased its holdings in shares of Salesforce.com by 1.0% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 145,899 shares of the CRM provider’s stock worth $13,630,000 after buying an additional 1,384 shares during the last quarter. 86.14% 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.

Analyst Recommendations for Salesforce.com (NYSE:CRM)

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