salesforce.com (NYSE:CRM) Stock Rating Reaffirmed by Northland Securities

Northland Securities reissued their buy rating on shares of salesforce.com (NYSE:CRM) in a report issued on Wednesday, AnalystRatings.com reports. They currently have a $185.00 price objective on the CRM provider’s stock.

CRM has been the subject of several other research reports. UBS Group set a $190.00 price objective on shares of salesforce.com and gave the company a buy rating in a research note on Friday, August 23rd. Piper Jaffray Companies began coverage on shares of salesforce.com in a research report on Wednesday, November 13th. They set an overweight rating and a $190.00 target price on the stock. BMO Capital Markets restated an outperform rating and set a $190.00 target price (up from $188.00) on shares of salesforce.com in a report on Wednesday. Cowen boosted their price target on salesforce.com from $185.00 to $195.00 and gave the stock an outperform rating in a research report on Thursday, November 21st. Finally, Monness Crespi & Hardt upped their price target on salesforce.com from $200.00 to $210.00 and gave the stock a buy rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $189.38.

NYSE:CRM traded up $1.52 during mid-day trading on Wednesday, reaching $157.95. The stock had a trading volume of 567,216 shares, compared to its average volume of 5,749,019. The stock has a market cap of $142.85 billion, a P/E ratio of 108.87, a PEG ratio of 7.00 and a beta of 1.24. The business’s 50 day moving average is $157.25 and its 200 day moving average is $153.39. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. salesforce.com has a fifty-two week low of $120.16 and a fifty-two week high of $167.56.

salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.09. The company had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.45 billion. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 earnings per share. Equities analysts expect that salesforce.com will post 1.24 EPS for the current year.

In other salesforce.com news, insider Parker Harris sold 620 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $149.85, for a total transaction of $92,907.00. Following the completion of the transaction, the insider now directly owns 31,375 shares in the company, valued at $4,701,543.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Srinivas Tallapragada sold 1,608 shares of salesforce.com stock in a transaction on Monday, November 25th. The shares were sold at an average price of $162.57, for a total value of $261,412.56. Following the transaction, the insider now directly owns 34,719 shares of the company’s stock, valued at $5,644,267.83. The disclosure for this sale can be found here. Insiders have sold 290,065 shares of company stock worth $45,266,782 in the last quarter. Corporate insiders own 5.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CRM. Resources Management Corp CT ADV acquired a new stake in shares of salesforce.com during the third quarter worth approximately $67,000. Kensico Capital Management Corp bought a new position in shares of salesforce.com in the third quarter valued at approximately $86,890,000. Metropolitan Life Insurance Co NY raised its stake in shares of salesforce.com by 13.2% in the third quarter. Metropolitan Life Insurance Co NY now owns 169,656 shares of the CRM provider’s stock valued at $25,184,000 after acquiring an additional 19,720 shares during the last quarter. Man Group plc boosted its holdings in shares of salesforce.com by 102.1% in the 3rd quarter. Man Group plc now owns 133,258 shares of the CRM provider’s stock worth $19,780,000 after acquiring an additional 67,318 shares in the last quarter. Finally, Prestige Wealth Management Group LLC grew its position in salesforce.com by 3.7% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,250 shares of the CRM provider’s stock worth $482,000 after acquiring an additional 116 shares during the last quarter. 81.32% of the stock is currently owned by institutional investors and hedge funds.

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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