salesforce.com (NYSE:CRM) Given a $169.00 Price Target by Sanford C. Bernstein Analysts

salesforce.com (NYSE:CRM) has been assigned a $169.00 price objective by investment analysts at Sanford C. Bernstein in a report released on Wednesday, June 5th, Borsen Zeitung reports. The firm currently has a “neutral” rating on the CRM provider’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 11.38% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Goldman Sachs Group reiterated a “buy” rating and set a $178.00 target price on shares of salesforce.com in a research report on Monday, March 4th. OTR Global lowered shares of salesforce.com to a “positive” rating in a report on Wednesday, May 15th. Macquarie boosted their price objective on shares of salesforce.com from $174.00 to $188.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Wells Fargo & Co boosted their price objective on shares of salesforce.com from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $180.00 price objective on shares of salesforce.com in a report on Monday, June 3rd. Four equities research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $179.97.

Shares of CRM traded up $1.04 during trading hours on Wednesday, reaching $151.73. 6,934,016 shares of the stock traded hands, compared to its average volume of 5,753,135. The stock has a market cap of $116.55 billion, a P/E ratio of 104.64, a price-to-earnings-growth ratio of 5.52 and a beta of 1.39. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. salesforce.com has a 52 week low of $113.60 and a 52 week high of $167.56. The stock has a fifty day moving average price of $154.25.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.61 by $0.32. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.68 billion. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. As a group, sell-side analysts expect that salesforce.com will post 1.25 EPS for the current year.

In other news, insider Mark J. Hawkins sold 846 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.01, for a total value of $140,444.46. Following the sale, the insider now directly owns 20,316 shares of the company’s stock, valued at approximately $3,372,659.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 6,331 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $157.36, for a total transaction of $996,246.16. Following the completion of the sale, the insider now directly owns 33,883 shares in the company, valued at $5,331,828.88. The disclosure for this sale can be found here. Insiders have sold a total of 395,167 shares of company stock valued at $62,110,903 over the last quarter. 5.50% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of salesforce.com by 0.8% in the first quarter. FMR LLC now owns 89,716,274 shares of the CRM provider’s stock worth $14,208,366,000 after acquiring an additional 698,321 shares in the last quarter. Horizon Investments LLC bought a new stake in shares of salesforce.com in the first quarter valued at about $424,000. Merit Financial Group LLC lifted its stake in shares of salesforce.com by 10.4% in the first quarter. Merit Financial Group LLC now owns 2,623 shares of the CRM provider’s stock valued at $415,000 after buying an additional 247 shares during the period. Laurel Wealth Advisors Inc. lifted its stake in shares of salesforce.com by 5.0% in the first quarter. Laurel Wealth Advisors Inc. now owns 3,256 shares of the CRM provider’s stock valued at $516,000 after buying an additional 156 shares during the period. Finally, M Holdings Securities Inc. bought a new stake in shares of salesforce.com in the first quarter valued at about $231,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

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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