Oppenheimer Reaffirms Buy Rating for salesforce.com (NYSE:CRM)

salesforce.com (NYSE:CRM)‘s stock had its “buy” rating reiterated by analysts at Oppenheimer in a note issued to investors on Wednesday, TipRanks reports. They presently have a $190.00 target price on the CRM provider’s stock. Oppenheimer’s price objective would suggest a potential upside of 21.01% from the stock’s previous close.

A number of other research analysts have also recently commented on CRM. Royal Bank of Canada upped their price target on salesforce.com from $181.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. They noted that the move was a valuation call. Northland Securities reiterated a “buy” rating and issued a $185.00 price objective on shares of salesforce.com in a report on Wednesday. Monness Crespi & Hardt boosted their price objective on salesforce.com from $200.00 to $210.00 and gave the company a “buy” rating in a report on Friday, August 23rd. FBN Securities set a $200.00 target price on salesforce.com and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, OTR Global upgraded shares of salesforce.com to a “positive” rating in a research note on Thursday, August 15th. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $189.05.

Shares of CRM stock opened at $157.01 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $142.85 billion, a PE ratio of 108.28, a price-to-earnings-growth ratio of 7.00 and a beta of 1.24. The company has a 50-day moving average of $157.11 and a two-hundred day moving average of $153.41. salesforce.com has a 1-year low of $120.16 and a 1-year high of $167.56.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. The firm had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.45 billion. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 EPS. Sell-side analysts anticipate that salesforce.com will post 1.24 EPS for the current fiscal year.

In other news, insider Parker Harris sold 620 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $149.85, for a total value of $92,907.00. Following the completion of the sale, the insider now directly owns 31,375 shares of the company’s stock, valued at approximately $4,701,543.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $153.25, for a total value of $766,250.00. The disclosure for this sale can be found here. Insiders sold 295,065 shares of company stock valued at $46,033,032 in the last 90 days. 5.50% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Investors Research Corp grew its holdings in shares of salesforce.com by 159.1% during the third quarter. Investors Research Corp now owns 171 shares of the CRM provider’s stock worth $25,000 after buying an additional 105 shares during the last quarter. Massey Quick Simon & CO. LLC acquired a new position in salesforce.com in the 2nd quarter valued at about $26,000. Personal Wealth Partners purchased a new stake in salesforce.com during the 2nd quarter valued at approximately $28,000. Acima Private Wealth LLC raised its stake in salesforce.com by 250.0% during the 3rd quarter. Acima Private Wealth LLC now owns 189 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 135 shares during the last quarter. Finally, Enterprise Trust & Investment Co raised its stake in salesforce.com by 234.4% during the 3rd quarter. Enterprise Trust & Investment Co now owns 204 shares of the CRM provider’s stock valued at $30,000 after acquiring an additional 143 shares during the last quarter. 81.32% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for salesforce.com (NYSE:CRM)

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