salesforce.com’s (CRM) Buy Rating Reaffirmed at SunTrust Banks

SunTrust Banks reissued their buy rating on shares of salesforce.com (NYSE:CRM) in a research report report published on Friday, TipRanks reports. They currently have a $210.00 target price on the CRM provider’s stock.

A number of other research analysts have also issued reports on the stock. Stifel Nicolaus boosted their target price on shares of salesforce.com from $195.00 to $210.00 and gave the company a buy rating in a research note on Friday, February 21st. Morgan Stanley reduced their price target on shares of salesforce.com from $225.00 to $195.00 and set an overweight rating for the company in a research note on Wednesday, March 25th. Monness Crespi & Hardt reduced their price target on shares of salesforce.com from $222.00 to $185.00 and set a buy rating for the company in a research note on Monday, March 30th. Sanford C. Bernstein reaffirmed a neutral rating and issued a $180.00 price target on shares of salesforce.com in a research note on Wednesday, February 26th. Finally, JMP Securities upped their price target on shares of salesforce.com from $172.00 to $191.00 and gave the stock a market outperform rating in a research note on Monday, May 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $198.69.

salesforce.com stock traded up $2.59 during midday trading on Friday, reaching $177.85. 4,963,328 shares of the stock traded hands, compared to its average volume of 6,068,004. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average price of $159.26 and a two-hundred day moving average price of $165.63. The firm has a market cap of $157.54 billion, a price-to-earnings ratio of 889.29, a PEG ratio of 7.99 and a beta of 1.07. salesforce.com has a fifty-two week low of $115.29 and a fifty-two week high of $195.72.

salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, February 25th. The CRM provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.10. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.75 billion. salesforce.com had a net margin of 0.74% and a return on equity of 3.61%. During the same period in the previous year, the business posted $0.70 EPS. Analysts anticipate that salesforce.com will post 1.22 earnings per share for the current year.

In related news, CAO Joe Allanson sold 521 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $139.86, for a total transaction of $72,867.06. Following the transaction, the chief accounting officer now directly owns 31,559 shares of the company’s stock, valued at $4,413,841.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $183.92, for a total transaction of $1,839,200.00. Following the transaction, the chief executive officer now directly owns 60,901 shares in the company, valued at $11,200,911.92. The disclosure for this sale can be found here. Insiders have sold 413,535 shares of company stock worth $65,708,070 over the last ninety days. 4.40% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its position in salesforce.com by 3.7% in the first quarter. The Manufacturers Life Insurance Company now owns 1,412,877 shares of the CRM provider’s stock worth $203,425,000 after acquiring an additional 49,965 shares in the last quarter. Odey Asset Management Group Ltd bought a new stake in salesforce.com in the first quarter worth approximately $566,000. FDx Advisors Inc. grew its position in salesforce.com by 102.3% in the first quarter. FDx Advisors Inc. now owns 158,196 shares of the CRM provider’s stock worth $22,777,000 after acquiring an additional 79,979 shares in the last quarter. Clearbridge Investments LLC grew its position in salesforce.com by 27.4% in the first quarter. Clearbridge Investments LLC now owns 4,107,610 shares of the CRM provider’s stock worth $591,414,000 after acquiring an additional 884,377 shares in the last quarter. Finally, Equitable Trust Co. grew its position in salesforce.com by 86.8% in the first quarter. Equitable Trust Co. now owns 33,706 shares of the CRM provider’s stock worth $4,853,000 after acquiring an additional 15,664 shares in the last quarter. 81.92% of the stock is 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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