salesforce.com (NYSE:CRM) had its price target upped by equities research analysts at SunTrust Banks to $189.00 in a report released on Tuesday, The Fly reports. The firm currently has a “buy” rating on the CRM provider’s stock. SunTrust Banks’ price objective points to a potential upside of 24.93% from the stock’s previous close. SunTrust Banks also issued estimates for salesforce.com’s Q2 2020 earnings at $0.09 EPS.
CRM has been the topic of a number of other reports. OTR Global cut salesforce.com to a “positive” rating in a research report on Wednesday, May 15th. Bank of America reissued a “buy” rating and issued a $200.00 price target (up from $181.00) on shares of salesforce.com in a research report on Wednesday, February 27th. Barclays boosted their price target on salesforce.com to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. BMO Capital Markets reissued an “outperform” rating and issued a $185.00 price target (up from $175.00) on shares of salesforce.com in a research report on Tuesday, March 5th. Finally, Zacks Investment Research cut salesforce.com from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the company. salesforce.com currently has an average rating of “Buy” and a consensus target price of $180.03.
CRM stock opened at $151.28 on Tuesday. salesforce.com has a fifty-two week low of $113.60 and a fifty-two week high of $167.56. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. The company has a market cap of $116.52 billion, a price-to-earnings ratio of 104.33, a PEG ratio of 5.13 and a beta of 1.38.
salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.32. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the business earned $0.74 EPS. The business’s revenue for the quarter was up 24.3% on a year-over-year basis. On average, analysts expect that salesforce.com will post 1.45 EPS for the current year.
In other news, insider Parker Harris sold 620 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $151.38, for a total transaction of $93,855.60. Following the transaction, the insider now directly owns 29,438 shares of the company’s stock, valued at approximately $4,456,324.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Craig Conway sold 200 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $161.00, for a total value of $32,200.00. Following the transaction, the director now directly owns 9,310 shares in the company, valued at $1,498,910. The disclosure for this sale can be found here. Insiders have sold a total of 418,666 shares of company stock worth $66,561,480 over the last three months. Insiders own 5.50% of the company’s stock.
Large investors have recently bought and sold shares of the company. Avondale Wealth Management increased its stake in shares of salesforce.com by 100.0% in the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Citizens Financial Group Inc RI purchased a new stake in shares of salesforce.com in the 1st quarter worth $27,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of salesforce.com in the 4th quarter worth $28,000. CX Institutional increased its stake in salesforce.com by 426.5% in the 1st quarter. CX Institutional now owns 179 shares of the CRM provider’s stock worth $28,000 after buying an additional 145 shares in the last quarter. Finally, Arcadia Investment Management Corp MI increased its stake in salesforce.com by 63.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock worth $28,000 after buying an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 82.14% of the company’s stock.
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.
Read More: What is the Coverage Ratio?
Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.