salesforce.com (NYSE:CRM) was upgraded by Zacks Investment Research from a "hold" rating to a "strong-buy" rating in a research note issued on Monday, Zacks.com reports. The firm presently has a $312.00 target price on the CRM provider's stock. Zacks Investment Research's price target suggests a potential upside of 16.06% from the company's current price.
According to Zacks, "Salesforce is benefiting from a robust demand environment as customers are undergoing a major digital transformation. The rapid adoption of its cloud-based solutions is driving demand for its products. Salesforce’s sustained focus on introducing more aligned products as per customer needs is driving its top-line. Continued deal wins in the international market is another growth driver. Furthermore, the recent acquisition of Tableau positions the company to be a leader in business analytics for actionable results in everything from operations to HR. However, stiff competition from Oracle and Microsoft is a concern. Besides, unfavorable currency fluctuations along with increasing investments in international expansions and data centers are an overhang on near-term profitability. The stock has underperformed the industry in the past year."
A number of other analysts have also recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of salesforce.com in a report on Friday, May 29th. Goldman Sachs Group upped their target price on salesforce.com from $220.00 to $252.00 and gave the stock a "buy" rating in a research note on Wednesday, August 26th. Barclays upped their target price on salesforce.com from $190.00 to $235.00 and gave the stock an "overweight" rating in a research note on Monday, August 24th. JMP Securities upped their target price on salesforce.com from $191.00 to $254.00 and gave the stock an "outperform" rating in a research note on Friday, August 21st. Finally, Stifel Nicolaus upped their target price on salesforce.com from $220.00 to $295.00 and gave the stock a "buy" rating in a research note on Wednesday, August 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and three have issued a strong buy rating to the company. The company presently has a consensus rating of "Buy" and an average price target of $243.60.
CRM traded down $2.28 during trading on Monday, reaching $268.82. 138,701 shares of the company were exchanged, compared to its average volume of 7,173,659. The company's 50-day moving average is $199.60 and its two-hundred day moving average is $176.56. The company has a market cap of $244.26 billion, a price-to-earnings ratio of 105.01, a P/E/G ratio of 7.90 and a beta of 1.07. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.07. salesforce.com has a 12-month low of $115.29 and a 12-month high of $278.28.
salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, August 25th. The CRM provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.77. The business had revenue of $5.15 billion for the quarter, compared to analysts' expectations of $4.90 billion. salesforce.com had a return on equity of 3.99% and a net margin of 12.21%. The firm's quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 EPS. Equities analysts forecast that salesforce.com will post 1.91 earnings per share for the current year.
In other salesforce.com news, insider Parker Harris sold 5,000 shares of salesforce.com stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $175.04, for a total value of $875,200.00. Following the completion of the sale, the insider now owns 64,945 shares of the company's stock, valued at approximately $11,367,972.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Srinivas Tallapragada sold 25,000 shares of salesforce.com stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $188.57, for a total value of $4,714,250.00. Following the completion of the sale, the insider now directly owns 65,957 shares of the company's stock, valued at approximately $12,437,511.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 754,776 shares of company stock valued at $143,971,013. 4.40% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the business. AlphaCore Capital LLC bought a new stake in shares of salesforce.com in the first quarter worth $28,000. Capital Square LLC acquired a new position in shares of salesforce.com in the first quarter worth $41,000. Investors Research Corp lifted its position in shares of salesforce.com by 58.5% during the 2nd quarter. Investors Research Corp now owns 271 shares of the CRM provider's stock worth $51,000 after purchasing an additional 100 shares during the last quarter. JJJ Advisors Inc. lifted its position in shares of salesforce.com by 46.5% during the 2nd quarter. JJJ Advisors Inc. now owns 293 shares of the CRM provider's stock worth $55,000 after purchasing an additional 93 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its position in shares of salesforce.com by 23.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 396 shares of the CRM provider's stock worth $57,000 after purchasing an additional 74 shares during the last quarter. 81.40% of the stock is owned by institutional investors and hedge funds.
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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