Analysts Set salesforce.com, inc. (CRM) Price Target at $178.36

salesforce.com, inc. (NYSE:CRM) has been assigned a consensus rating of “Buy” from the forty-two research firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, thirty-seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $178.36.

CRM has been the subject of a number of recent research reports. Stephens initiated coverage on shares of salesforce.com in a research note on Wednesday, January 16th. They issued an “overweight” rating and a $183.00 price objective for the company. TheStreet upgraded shares of salesforce.com from a “c+” rating to a “b” rating in a research note on Thursday, January 31st. Atlantic Securities initiated coverage on shares of salesforce.com in a research note on Wednesday, January 9th. They issued an “overweight” rating and a $179.00 price objective for the company. Bank of America reiterated a “buy” rating and issued a $200.00 price objective (up from $181.00) on shares of salesforce.com in a research note on Wednesday, February 27th. Finally, Barclays lifted their price objective on shares of salesforce.com to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th.

salesforce.com stock traded up $2.87 during mid-day trading on Thursday, reaching $165.96. The company’s stock had a trading volume of 3,342,859 shares, compared to its average volume of 3,722,386. salesforce.com has a 12-month low of $113.60 and a 12-month high of $166.99. The firm has a market capitalization of $127.92 billion, a price-to-earnings ratio of 114.46, a P/E/G ratio of 6.12 and a beta of 1.39. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Monday, March 4th. The CRM provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.14. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the business earned $0.35 EPS. On average, equities research analysts forecast that salesforce.com will post 1.18 EPS for the current year.

In other news, insider Mark J. Hawkins sold 15,271 shares of salesforce.com stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $165.08, for a total transaction of $2,520,936.68. Following the completion of the sale, the insider now directly owns 25,254 shares of the company’s stock, valued at approximately $4,168,930.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 6,331 shares of salesforce.com stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $145.80, for a total transaction of $923,059.80. Following the sale, the insider now directly owns 29,974 shares of the company’s stock, valued at $4,370,209.20. The disclosure for this sale can be found here. Insiders have sold a total of 452,172 shares of company stock valued at $71,773,095 over the last ninety days. 6.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Avondale Wealth Management lifted its holdings in shares of salesforce.com by 100.0% during the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock worth $25,000 after acquiring an additional 80 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of salesforce.com during the 4th quarter worth $28,000. CX Institutional lifted its holdings in shares of salesforce.com by 426.5% during the 1st quarter. CX Institutional now owns 179 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 145 shares during the last quarter. Brand Asset Management Group Inc. bought a new stake in shares of salesforce.com during the 1st quarter worth $30,000. Finally, Ellis Investment Partners LLC bought a new stake in salesforce.com in the first quarter worth $34,000. 83.08% of the stock is owned by institutional investors.

salesforce.com Company Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.

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Analyst Recommendations for salesforce.com (NYSE:CRM)

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