Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell Downgrades salesforce.com (NYSE:CRM) to Neutral

salesforce.com (NYSE:CRM) was downgraded by equities research analysts at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, AnalystRatings.net reports. They presently have a $250.00 target price on the CRM provider’s stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell’s price objective indicates a potential upside of 13.14% from the stock’s current price.

Several other research analysts have also commented on CRM. Bank of America set a $280.00 price objective on salesforce.com and gave the stock a “buy” rating in a report on Tuesday, September 1st. Zacks Investment Research lowered salesforce.com from a “strong-buy” rating to a “hold” rating and set a $254.00 price objective for the company. in a report on Tuesday, October 27th. JPMorgan Chase & Co. set a $250.00 target price on salesforce.com and gave the stock a “buy” rating in a research note on Wednesday. TheStreet raised salesforce.com from a “c” rating to a “b+” rating in a research note on Tuesday, August 25th. Finally, Raymond James upped their target price on salesforce.com from $230.00 to $255.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. salesforce.com presently has an average rating of “Buy” and a consensus price target of $259.46.

Shares of salesforce.com stock opened at $220.97 on Wednesday. salesforce.com has a 52-week low of $115.29 and a 52-week high of $284.50. The stock’s 50-day simple moving average is $250.23 and its 200 day simple moving average is $220.06. The stock has a market capitalization of $201.08 billion, a P/E ratio of 57.69, a P/E/G ratio of 8.30 and a beta of 1.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.15 and a current ratio of 1.15.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Monday, November 30th. The CRM provider reported $1.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.99. salesforce.com had a return on equity of 3.99% and a net margin of 12.21%. The firm had revenue of $5.42 million for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The company’s revenue was down 99.9% on a year-over-year basis. Equities research analysts forecast that salesforce.com will post 1.89 EPS for the current fiscal year.

In other news, insider Amy E. Weaver sold 9,010 shares of the stock in a transaction on Tuesday, December 1st. The stock was sold at an average price of $245.00, for a total value of $2,207,450.00. Following the sale, the insider now directly owns 27,476 shares of the company’s stock, valued at $6,731,620. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 5,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $240.26, for a total value of $1,201,300.00. Following the completion of the sale, the insider now directly owns 47,969 shares in the company, valued at $11,525,031.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 474,861 shares of company stock valued at $118,786,662. 4.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. State Street Corp grew its stake in shares of salesforce.com by 14.4% in the third quarter. State Street Corp now owns 41,671,306 shares of the CRM provider’s stock worth $10,472,833,000 after acquiring an additional 5,236,449 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of salesforce.com by 226.0% in the third quarter. Great West Life Assurance Co. Can now owns 2,547,826 shares of the CRM provider’s stock worth $197,234,000 after acquiring an additional 1,766,248 shares during the last quarter. First Eagle Investment Management LLC purchased a new stake in shares of salesforce.com in the second quarter worth $264,849,000. Vanguard Group Inc. grew its stake in shares of salesforce.com by 1.9% in the second quarter. Vanguard Group Inc. now owns 71,232,417 shares of the CRM provider’s stock worth $13,343,968,000 after acquiring an additional 1,349,434 shares during the last quarter. Finally, Alkeon Capital Management LLC purchased a new stake in shares of salesforce.com in the third quarter worth $326,716,000. 74.58% of the stock is currently 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 worldwide. 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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