salesforce.com (NYSE:CRM) Coverage Initiated at Compass Point

Equities researchers at Compass Point assumed coverage on shares of salesforce.com (NYSE:CRM) in a note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $190.00 price target on the CRM provider’s stock. Compass Point’s price target indicates a potential upside of 35.99% from the company’s previous close.

Several other research firms also recently commented on CRM. Wedbush restated an “outperform” rating and set a $192.00 target price on shares of salesforce.com in a research report on Friday, May 31st. SunTrust Banks raised their target price on salesforce.com to $189.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. UBS Group set a $190.00 target price on salesforce.com and gave the stock a “buy” rating in a research report on Tuesday, June 11th. JPMorgan Chase & Co. restated a “buy” rating and set a $180.00 target price on shares of salesforce.com in a research report on Monday, June 3rd. Finally, ValuEngine downgraded salesforce.com from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $180.00.

Shares of CRM stock opened at $139.72 on Tuesday. The stock has a 50 day moving average price of $152.66. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96. salesforce.com has a 12 month low of $113.60 and a 12 month high of $167.56. The company has a market cap of $109.20 billion, a P/E ratio of 96.36, a P/E/G ratio of 5.17 and a beta of 1.27.



salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.32. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the company earned $0.74 EPS. The company’s quarterly revenue was up 24.3% on a year-over-year basis. On average, equities analysts expect that salesforce.com will post 1.25 EPS for the current year.

In other news, CAO Joe Allanson sold 327 shares of salesforce.com stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $153.55, for a total value of $50,210.85. Following the completion of the sale, the chief accounting officer now directly owns 30,619 shares of the company’s stock, valued at approximately $4,701,547.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 5,000 shares of salesforce.com stock in a transaction on Friday, May 17th. The shares were sold at an average price of $155.34, for a total value of $776,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 309,671 shares of company stock valued at $47,578,569. Corporate insiders own 5.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Viking Global Investors LP acquired a new stake in shares of salesforce.com in the 2nd quarter valued at $443,415,000. BlackRock Inc. increased its stake in shares of salesforce.com by 4.7% in the 2nd quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock valued at $8,521,967,000 after buying an additional 2,499,996 shares during the period. Jennison Associates LLC increased its stake in shares of salesforce.com by 8.4% in the 2nd quarter. Jennison Associates LLC now owns 21,575,462 shares of the CRM provider’s stock valued at $3,273,645,000 after buying an additional 1,673,392 shares during the period. Janus Henderson Group PLC increased its stake in shares of salesforce.com by 12.9% in the 2nd quarter. Janus Henderson Group PLC now owns 13,247,900 shares of the CRM provider’s stock valued at $2,009,810,000 after buying an additional 1,516,132 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of salesforce.com by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 58,771,856 shares of the CRM provider’s stock valued at $8,917,454,000 after buying an additional 1,491,307 shares during the period. 82.05% of the stock is owned by 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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Analyst Recommendations for salesforce.com (NYSE:CRM)

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