salesforce.com (NYSE:CRM) Stock Rating Reaffirmed by BMO Capital Markets

BMO Capital Markets reissued their outperform rating on shares of salesforce.com (NYSE:CRM) in a research note published on Wednesday morning, The Fly reports. BMO Capital Markets currently has a $190.00 price objective on the CRM provider’s stock, up from their prior price objective of $188.00.

Several other research analysts also recently commented on the stock. Northland Securities set a $185.00 price objective on shares of salesforce.com and gave the company a buy rating in a report on Friday, August 23rd. Compass Point set a $193.00 price objective on salesforce.com and gave the company a buy rating in a research report on Friday, August 23rd. UBS Group set a $190.00 target price on salesforce.com and gave the stock a buy rating in a report on Friday, August 23rd. Jefferies Financial Group reiterated a buy rating and issued a $195.00 target price (up from $171.00) on shares of salesforce.com in a research report on Sunday, November 17th. Finally, Macquarie increased their price target on salesforce.com from $184.00 to $190.00 and gave the company an outperform rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. salesforce.com currently has an average rating of Buy and an average price target of $189.68.

salesforce.com stock opened at $158.01 on Wednesday. salesforce.com has a 1 year low of $120.16 and a 1 year high of $167.56. The firm’s 50 day moving average price is $157.59 and its 200-day moving average price is $153.43. 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 stock has a market cap of $138.57 billion, a P/E ratio of 108.97, a PEG ratio of 7.00 and a beta of 1.24.

salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.09. The firm had revenue of $4.51 billion during 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%. salesforce.com’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 earnings per share. As a group, equities analysts expect that salesforce.com will post 1.24 EPS for the current year.

In other salesforce.com news, insider Parker Harris sold 620 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $149.85, for a total transaction of $92,907.00. Following the completion of the transaction, the insider now owns 31,375 shares in the company, valued at $4,701,543.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bret Steven Taylor sold 665 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $154.07, for a total value of $102,456.55. Following the transaction, the insider now owns 1,129,570 shares of the company’s stock, valued at approximately $174,032,849.90. The disclosure for this sale can be found here. Insiders have sold 300,065 shares of company stock worth $46,846,882 in the last quarter. Company insiders own 5.50% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Investors Research Corp boosted its stake 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 valued at $25,000 after purchasing an additional 105 shares during the period. Massey Quick Simon & CO. LLC purchased a new position in salesforce.com in the 2nd quarter worth about $26,000. Personal Wealth Partners purchased a new position in salesforce.com in the 2nd quarter worth about $28,000. Acima Private Wealth LLC increased its stake in salesforce.com by 250.0% in the 3rd quarter. Acima Private Wealth LLC now owns 189 shares of the CRM provider’s stock worth $28,000 after buying an additional 135 shares during the period. Finally, Enterprise Trust & Investment Co lifted its holdings 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 buying an additional 143 shares in the last quarter. 81.32% 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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