salesforce.com (NYSE:CRM) PT Set at $183.00 by Royal Bank of Canada

Royal Bank of Canada set a $183.00 price objective on salesforce.com (NYSE:CRM) in a report published on Tuesday, Borsen Zeitung reports. The firm currently has a buy rating on the CRM provider’s stock.

A number of other research analysts have also weighed in on the company. Goldman Sachs Group restated a buy rating and set a $178.00 price objective on shares of salesforce.com in a research report on Monday, March 4th. OTR Global lowered salesforce.com to a positive rating in a research report on Wednesday, May 15th. Macquarie raised their price objective on salesforce.com from $174.00 to $188.00 and gave the company an outperform rating in a research report on Tuesday, March 5th. Wells Fargo & Co raised their price objective on salesforce.com from $175.00 to $185.00 and gave the company an outperform rating in a research report on Tuesday, March 5th. Finally, Raymond James raised their price objective on salesforce.com from $165.00 to $200.00 and gave the company a strong-buy rating in a research report on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $180.03.

Shares of salesforce.com stock opened at $150.15 on Tuesday. The stock has a market cap of $125.15 billion, a PE ratio of 103.55, a PEG ratio of 5.13 and a beta of 1.38. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. salesforce.com has a twelve month low of $113.60 and a twelve month high of $167.56.



salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.32. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 earnings per share. Analysts anticipate that salesforce.com will post 1.45 earnings per share for the current fiscal year.

In other salesforce.com news, Director Craig Conway sold 200 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $161.00, for a total value of $32,200.00. Following the completion of the sale, the director now owns 9,310 shares of the company’s stock, valued at $1,498,910. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $161.02, for a total transaction of $805,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 418,779 shares of company stock valued at $66,579,600. 5.50% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Flinton Capital Management LLC raised its stake in shares of salesforce.com by 17.5% during the fourth quarter. Flinton Capital Management LLC now owns 73,056 shares of the CRM provider’s stock valued at $10,006,000 after acquiring an additional 10,864 shares in the last quarter. Piedmont Investment Advisors Inc. raised its stake in shares of salesforce.com by 5.7% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 93,507 shares of the CRM provider’s stock valued at $12,808,000 after acquiring an additional 5,063 shares in the last quarter. Heritage Investors Management Corp raised its stake in shares of salesforce.com by 10.0% during the first quarter. Heritage Investors Management Corp now owns 34,427 shares of the CRM provider’s stock valued at $5,452,000 after acquiring an additional 3,143 shares in the last quarter. Putnam FL Investment Management Co. raised its stake in shares of salesforce.com by 0.5% during the fourth quarter. Putnam FL Investment Management Co. now owns 21,392 shares of the CRM provider’s stock valued at $2,930,000 after acquiring an additional 97 shares in the last quarter. Finally, MML Investors Services LLC raised its stake in shares of salesforce.com by 65.9% during the fourth quarter. MML Investors Services LLC now owns 30,074 shares of the CRM provider’s stock valued at $4,119,000 after acquiring an additional 11,941 shares in the last quarter. 82.14% of the stock is owned by hedge funds and other institutional investors.

About salesforce.com

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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