salesforce.com (NYSE:CRM) Price Target Increased to $282.00 by Analysts at JMP Securities

salesforce.com (NYSE:CRM) had its price target upped by JMP Securities from $272.00 to $282.00 in a note issued to investors on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the CRM provider’s stock. JMP Securities’ target price points to a potential upside of 27.62% from the company’s current price.

Several other research analysts also recently issued reports on the stock. Canaccord Genuity boosted their price objective on shares of salesforce.com from $200.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of salesforce.com from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Truist reissued a “buy” rating on shares of salesforce.com in a research note on Tuesday. Barclays upped their target price on shares of salesforce.com from $264.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. They noted that the move was a valuation call. Finally, Citigroup upped their target price on shares of salesforce.com from $196.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $259.46.

NYSE CRM opened at $220.97 on Wednesday. The firm’s 50 day moving average price is $250.23 and its two-hundred day moving average price is $220.06. 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 has a twelve month low of $115.29 and a twelve month high of $284.50. The stock has a market cap of $201.08 billion, a price-to-earnings ratio of 57.69, a PEG ratio of 8.30 and a beta of 1.21.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Monday, November 30th. The CRM provider reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.99. The business had revenue of $5.42 million during the quarter, compared to analyst estimates of $5.25 billion. salesforce.com had a net margin of 12.21% and a return on equity of 3.99%. salesforce.com’s quarterly revenue was down 99.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. On average, research analysts forecast that salesforce.com will post 1.89 EPS for the current fiscal year.

In related news, CEO Marc Benioff sold 15,000 shares of salesforce.com stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $267.70, for a total transaction of $4,015,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Amy E. Weaver sold 5,800 shares of salesforce.com stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $235.12, for a total transaction of $1,363,696.00. Following the sale, the insider now directly owns 26,064 shares in the company, valued at $6,128,167.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 474,861 shares of company stock worth $118,786,662. Insiders own 4.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in CRM. State Street Corp grew its holdings in shares of salesforce.com by 14.4% during the 3rd quarter. State Street Corp now owns 41,671,306 shares of the CRM provider’s stock valued at $10,472,833,000 after purchasing an additional 5,236,449 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in salesforce.com by 226.0% during the 3rd 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 bought a new stake in salesforce.com during the 2nd quarter worth approximately $264,849,000. Vanguard Group Inc. grew its holdings in salesforce.com by 1.9% during the 2nd 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 bought a new stake in salesforce.com during the 3rd quarter worth approximately $326,716,000. 74.58% of the stock is currently owned by institutional investors.

salesforce.com Company Profile

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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