salesforce.com (NYSE:CRM) has been assigned a $310.00 target price by research analysts at JPMorgan Chase & Co. in a research note issued on Wednesday, Borsen Zeitung reports. JPMorgan Chase & Co.‘s target price indicates a potential upside of 16.86% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. Morgan Stanley raised their price target on salesforce.com from $285.00 to $305.00 and gave the company an “overweight” rating in a research report on Thursday, August 26th. Societe Generale lifted their price target on salesforce.com from $290.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, August 27th. JMP Securities raised their price objective on shares of salesforce.com from $282.00 to $320.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 18th. KGI Securities upgraded shares of salesforce.com from a “neutral” rating to an “outperform” rating and set a $330.00 target price for the company in a research note on Thursday, August 26th. Finally, Oppenheimer raised their price target on shares of salesforce.com from $265.00 to $290.00 and gave the stock an “outperform” rating in a research report on Thursday, August 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, salesforce.com presently has a consensus rating of “Buy” and an average price target of $298.92.
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Shares of CRM opened at $265.27 on Wednesday. The firm has a market cap of $245.64 billion, a PE ratio of 106.53, a PEG ratio of 9.03 and a beta of 1.09. salesforce.com has a twelve month low of $201.51 and a twelve month high of $284.50. The firm’s 50 day moving average price is $248.00 and its 200 day moving average price is $233.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.33 and a current ratio of 0.93.
salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.56. The company had revenue of $6.34 billion for the quarter, compared to analyst estimates of $6.25 billion. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.44 earnings per share. On average, sell-side analysts anticipate that salesforce.com will post 1.6 earnings per share for the current fiscal year.
In related news, insider Srinivas Tallapragada sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $236.60, for a total value of $1,183,000.00. Following the completion of the transaction, the insider now owns 67,204 shares in the company, valued at approximately $15,900,466.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 20,000 shares of salesforce.com stock in a transaction on Friday, August 27th. The shares were sold at an average price of $267.44, for a total value of $5,348,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 690,921 shares of company stock worth $171,227,395. Insiders own 4.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Amundi bought a new stake in shares of salesforce.com in the 2nd quarter valued at about $1,100,891,000. Akre Capital Management LLC bought a new stake in salesforce.com in the second quarter valued at approximately $683,956,000. Morgan Stanley raised its holdings in salesforce.com by 20.2% in the second quarter. Morgan Stanley now owns 16,563,897 shares of the CRM provider’s stock worth $4,046,065,000 after purchasing an additional 2,787,393 shares during the period. Polen Capital Management LLC boosted its position in shares of salesforce.com by 31.0% during the first quarter. Polen Capital Management LLC now owns 9,228,555 shares of the CRM provider’s stock worth $1,955,254,000 after purchasing an additional 2,186,033 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of salesforce.com by 134.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,472,998 shares of the CRM provider’s stock valued at $735,824,000 after buying an additional 1,993,259 shares during the period. 69.98% of the stock is currently owned by hedge funds and other institutional investors.
About salesforce.com
salesforce.com, inc. engages…