salesforce.com’s (NYSE:CRM) “Buy” Rating Reaffirmed at Monness Crespi & Hardt

Monness Crespi & Hardt reiterated their buy rating on shares of salesforce.com (NYSE:CRM) in a research report report published on Wednesday, June 5th, Briefing.com Automated Import reports. The firm currently has a $200.00 price target on the CRM provider’s stock, up from their previous price target of $195.00.

CRM has been the subject of a number of other reports. Credit Suisse Group set a $175.00 price target on salesforce.com and gave the company a buy rating in a research report on Wednesday, June 5th. JPMorgan Chase & Co. reaffirmed a buy rating and set a $180.00 price target on shares of salesforce.com in a research report on Monday, June 3rd. Wedbush reaffirmed an outperform rating and set a $192.00 price target on shares of salesforce.com in a research report on Friday, May 31st. Nomura reaffirmed a buy rating on shares of salesforce.com in a research report on Tuesday, May 28th. Finally, Bank of America reaffirmed a buy rating and set a $200.00 price target on shares of salesforce.com in a research report on Monday, May 20th. Four investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $179.97.

Shares of salesforce.com stock traded up $1.04 on Wednesday, hitting $151.73. 6,933,966 shares of the company’s stock traded hands, compared to its average volume of 9,061,197. salesforce.com has a one year low of $113.60 and a one year high of $167.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96. The firm’s fifty day moving average price is $154.25. The company has a market cap of $116.94 billion, a P/E ratio of 104.64, a price-to-earnings-growth ratio of 5.58 and a beta of 1.39.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (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 return on equity of 8.18% and a net margin of 8.26%. The company’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. As a group, analysts expect that salesforce.com will post 1.25 EPS for the current year.

In other news, insider Amy E. Weaver sold 6,409 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $159.81, for a total value of $1,024,222.29. Following the sale, the insider now directly owns 32,010 shares of the company’s stock, valued at approximately $5,115,518.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $149.73, for a total value of $1,497,300.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 395,167 shares of company stock worth $62,110,903. Insiders own 5.50% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Avondale Wealth Management lifted its holdings in shares of salesforce.com by 100.0% in the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock valued at $25,000 after acquiring an additional 80 shares during the last quarter. Citizens Financial Group Inc RI purchased a new position in shares of salesforce.com during the first quarter worth approximately $27,000. Patriot Financial Group Insurance Agency LLC purchased a new position in salesforce.com during the fourth quarter valued at approximately $28,000. CX Institutional increased its holdings in salesforce.com by 426.5% during 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 increased its holdings in salesforce.com by 63.0% during 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 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. 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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