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salesforce.com’s (CRM) Buy Rating Reaffirmed at JMP Securities

salesforce.com (NYSE:CRM)‘s stock had its “buy” rating reissued by equities researchers at JMP Securities in a research report issued on Monday, TipRanks reports. They presently have a $191.00 price objective on the CRM provider’s stock. JMP Securities’ price target points to a potential upside of 18.08% from the stock’s previous close.

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CRM has been the subject of several other reports. Stephens set a $184.00 price objective on shares of salesforce.com and gave the stock a “buy” rating in a report on Friday, August 23rd. Morgan Stanley raised their price objective on shares of salesforce.com from $178.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Royal Bank of Canada raised their price objective on shares of salesforce.com from $181.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. They noted that the move was a valuation call. Compass Point set a $193.00 price target on shares of salesforce.com and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, OTR Global raised shares of salesforce.com to a “positive” rating in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $187.31.

CRM stock traded down $1.06 during mid-day trading on Monday, hitting $161.75. 3,263,123 shares of the company were exchanged, compared to its average volume of 4,905,991. The company has a market capitalization of $142.85 billion, a PE ratio of 111.55, a price-to-earnings-growth ratio of 6.89 and a beta of 1.22. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. salesforce.com has a twelve month low of $120.16 and a twelve month high of $167.56. The firm has a fifty day simple moving average of $154.01 and a 200 day simple moving average of $153.18.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.57. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the business earned $0.71 EPS. As a group, sell-side analysts anticipate that salesforce.com will post 1.24 earnings per share for the current year.

In other salesforce.com news, CAO Joe Allanson sold 167 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $154.07, for a total transaction of $25,729.69. Following the sale, the chief accounting officer now directly owns 30,958 shares in the company, valued at approximately $4,769,699.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $154.46, for a total transaction of $1,544,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 230,803 shares of company stock worth $35,399,548. 5.50% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Chemung Canal Trust Co. raised its position in shares of salesforce.com by 1.2% during the 2nd quarter. Chemung Canal Trust Co. now owns 44,078 shares of the CRM provider’s stock worth $6,688,000 after buying an additional 505 shares in the last quarter. Ibex Wealth Advisors bought a new stake in shares of salesforce.com during the 2nd quarter worth about $63,000. Aviva PLC raised its position in shares of salesforce.com by 0.6% during the 2nd quarter. Aviva PLC now owns 495,861 shares of the CRM provider’s stock worth $75,237,000 after buying an additional 3,145 shares in the last quarter. Meadow Creek Investment Management LLC raised its position in shares of salesforce.com by 22.6% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 131,934 shares of the CRM provider’s stock worth $20,018,000 after buying an additional 24,354 shares in the last quarter. Finally, Impax Asset Management Group plc raised its position in shares of salesforce.com by 10.1% during the 2nd quarter. Impax Asset Management Group plc now owns 102,272 shares of the CRM provider’s stock worth $15,518,000 after buying an additional 9,383 shares in the last quarter. Institutional investors own 74.99% of the company’s stock.

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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