salesforce.com (NYSE:CRM) PT Set at $285.00 by Royal Bank of Canada

salesforce.com (NYSE:CRM) has been assigned a $285.00 price target by analysts at Royal Bank of Canada in a report released on Wednesday, Borsen Zeitung reports. The brokerage presently has a “buy” rating on the CRM provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 28.98% from the stock’s previous close.

Several other brokerages have also recently issued reports on CRM. OTR Global raised salesforce.com to a “positive” rating in a research report on Thursday, November 12th. Zacks Investment Research cut salesforce.com from a “strong-buy” rating to a “hold” rating and set a $254.00 target price on the stock. in a research report on Tuesday, October 27th. TheStreet raised salesforce.com from a “c” rating to a “b+” rating in a research report on Tuesday, August 25th. Credit Suisse Group set a $245.00 target price on salesforce.com and gave the stock a “buy” rating in a research report on Wednesday. Finally, Sanford C. Bernstein set a $234.00 target price on salesforce.com and gave the stock a “neutral” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $259.46.

salesforce.com stock opened at $220.97 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.15 and a quick ratio of 1.15. salesforce.com has a one year low of $115.29 and a one year high of $284.50. The stock has a market capitalization of $201.08 billion, a PE ratio of 57.69, a price-to-earnings-growth ratio of 8.30 and a beta of 1.21. The business’s fifty day moving average is $250.23 and its 200 day moving average is $220.06.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Monday, November 30th. The CRM provider reported $1.74 EPS for the quarter, beating the 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 company had revenue of $5.42 million for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period last year, the firm posted $0.75 earnings per share. salesforce.com’s revenue was down 99.9% compared to the same quarter last year. As a group, sell-side analysts expect that salesforce.com will post 1.89 EPS for the current fiscal year.

In other salesforce.com news, insider Brent Hyder sold 16,727 shares of salesforce.com stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $252.25, for a total value of $4,219,385.75. Following the sale, the insider now owns 16,727 shares of the company’s stock, valued at approximately $4,219,385.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Amy E. Weaver sold 9,010 shares of salesforce.com stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 27,476 shares in the company, valued at approximately $6,731,620. The disclosure for this sale can be found here. In the last ninety days, insiders sold 474,861 shares of company stock worth $118,786,662. Corporate insiders own 4.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in CRM. Demars Financial Group LLC purchased a new position in shares of salesforce.com in the 2nd quarter worth approximately $30,000. Trustcore Financial Services LLC boosted its holdings in shares of salesforce.com by 116.9% in the 3rd quarter. Trustcore Financial Services LLC now owns 128 shares of the CRM provider’s stock worth $32,000 after purchasing an additional 69 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of salesforce.com in the 3rd quarter worth approximately $35,000. Newfound Research LLC purchased a new position in shares of salesforce.com in the 3rd quarter worth approximately $43,000. Finally, Capstone Financial Group Inc. purchased a new position in shares of salesforce.com in the 3rd quarter worth approximately $50,000. Hedge funds and other institutional investors own 74.58% of the company’s stock.

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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Analyst Recommendations for salesforce.com (NYSE:CRM)

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