salesforce.com’s (NYSE:CRM) “Buy” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their buy rating on shares of salesforce.com (NYSE:CRM) in a research report released on Wednesday, June 5th, Stock Target Advisor reports. Royal Bank of Canada currently has a $183.00 target price on the CRM provider’s stock.

Other equities research analysts have also issued reports about the stock. Goldman Sachs Group restated a buy rating and issued a $178.00 price objective on shares of salesforce.com in a report on Monday, March 4th. OTR Global downgraded shares of salesforce.com to a positive rating in a research report on Wednesday, May 15th. Macquarie increased their target price on shares of salesforce.com from $174.00 to $188.00 and gave the stock an outperform rating in a research report on Tuesday, March 5th. Wells Fargo & Co increased their target price on shares of salesforce.com from $175.00 to $185.00 and gave the company an outperform rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. reissued a buy rating and set a $180.00 price target on shares of salesforce.com in a research report on Monday, June 3rd. Four research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has given a strong buy rating to the company. The company has an average 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 stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $157.36, for a total transaction of $996,246.16. Following 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.

A number of hedge funds have recently made changes to their positions in the stock. Avondale Wealth Management raised its stake in salesforce.com by 100.0% during the first quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock valued at $25,000 after buying an additional 80 shares in the last quarter. Citizens Financial Group Inc RI bought a new stake in shares of salesforce.com in the first quarter valued at about $27,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of salesforce.com in the fourth quarter valued at about $28,000. CX Institutional lifted its stake in shares of salesforce.com by 426.5% in the first quarter. CX Institutional now owns 179 shares of the CRM provider’s stock valued at $28,000 after buying an additional 145 shares during the period. Finally, Arcadia Investment Management Corp MI lifted its stake in shares of salesforce.com by 63.0% in the first quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock valued at $28,000 after buying an additional 68 shares during the period. 81.53% 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. 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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