salesforce.com (NYSE:CRM) PT Raised to $320.00 at Mizuho

salesforce.com (NYSE:CRM) had its target price boosted by investment analysts at Mizuho from $300.00 to $320.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm presently has a “buy” rating on the CRM provider’s stock. Mizuho’s target price points to a potential upside of 12.03% from the company’s previous close.

CRM has been the topic of several other research reports. Canaccord Genuity upped their target price on salesforce.com from $200.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, August 26th. Morgan Stanley upped their target price on salesforce.com from $285.00 to $305.00 and gave the company an “overweight” rating in a research report on Thursday, August 26th. Redburn Partners began coverage on salesforce.com in a research report on Monday, June 28th. They set a “buy” rating and a $320.00 target price on the stock. They noted that the move was a valuation call. Bank of America upped their target price on salesforce.com from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, August 26th. Finally, Citigroup upped their target price on salesforce.com from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Thursday, August 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, salesforce.com presently has a consensus rating of “Buy” and a consensus target price of $310.78.

NYSE CRM opened at $285.63 on Friday. The business’s 50-day moving average price is $254.77 and its two-hundred day moving average price is $238.04. salesforce.com has a 12 month low of $201.51 and a 12 month high of $286.36. The firm has a market capitalization of $279.63 billion, a PE ratio of 114.71, a price-to-earnings-growth ratio of 7.35 and a beta of 1.09. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.56. salesforce.com had a return on equity of 7.15% and a net margin of 9.99%. The firm had revenue of $6.34 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the previous year, the company posted $1.44 EPS. The business’s revenue was up 23.1% on a year-over-year basis. As a group, analysts forecast that salesforce.com will post 2.09 earnings per share for the current fiscal year.

In other news, CAO Joe Allanson sold 153 shares of the firm’s stock in a transaction on Friday, July 23rd. The stock was sold at an average price of $248.21, for a total value of $37,976.13. Following the completion of the transaction, the chief accounting officer now directly owns 31,412 shares of the company’s stock, valued at $7,796,772.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Benioff sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 30th. The stock was sold at an average price of $244.91, for a total value of $4,898,200.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 786,605 shares of company stock valued at $198,242,927. 4.10% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Atlas Private Wealth Advisors raised its position in shares of salesforce.com by 115.3% in the second quarter. Atlas Private Wealth Advisors now owns 127 shares of the CRM provider’s stock worth $31,000 after buying an additional 68 shares in the last quarter. Sage Financial Management Group Inc. purchased a new stake in shares of salesforce.com in the first quarter worth $32,000. First PREMIER Bank purchased a new stake in shares of salesforce.com in the second quarter worth $32,000. Providence Capital Advisors LLC raised its position in shares of salesforce.com by 87.2% in the first quarter. Providence Capital Advisors LLC now owns 161 shares of the CRM provider’s stock worth $34,000 after buying an additional 75 shares in the last quarter. Finally, Elkhorn Partners Limited Partnership purchased a new stake in shares of salesforce.com in the first quarter worth $36,000. 77.33% of the stock is owned by hedge funds and other institutional investors.

salesforce.com Company Profile

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

Further Reading: Hold Rating

The Fly logo

Analyst Recommendations for salesforce.com (NYSE:CRM)

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.