Cowen Reaffirms Buy Rating for salesforce.com (NYSE:CRM)

salesforce.com (NYSE:CRM)‘s stock had its “buy” rating reiterated by analysts at Cowen in a research report issued on Wednesday, TipRanks reports. They presently have a $195.00 price objective on the CRM provider’s stock. Cowen’s price target points to a potential upside of 24.20% from the company’s current price.

A number of other equities analysts also recently commented on the company. BMO Capital Markets restated an “outperform” rating and set a $190.00 target price (up previously from $188.00) on shares of salesforce.com in a report on Wednesday. Goldman Sachs Group set a $191.00 price target on shares of salesforce.com and gave the company a “buy” rating in a report on Wednesday. Evercore ISI reissued a “buy” rating and set a $190.00 price objective on shares of salesforce.com in a research report on Tuesday, November 12th. Northland Securities restated a “buy” rating and issued a $185.00 price objective on shares of salesforce.com in a report on Wednesday. Finally, JPMorgan Chase & Co. set a $200.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. salesforce.com has a consensus rating of “Buy” and an average price target of $189.05.

CRM stock opened at $157.01 on Wednesday. The stock has a market capitalization of $142.85 billion, a price-to-earnings ratio of 108.28, a PEG ratio of 7.00 and a beta of 1.24. The firm’s 50-day moving average price is $157.11 and its two-hundred day moving average price is $153.41. 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 12-month low of $120.16 and a 12-month high of $167.56.

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

In other news, CAO Joe Allanson sold 167 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $154.07, for a total value of $25,729.69. Following the completion of the transaction, the chief accounting officer now owns 30,958 shares in the company, valued at $4,769,699.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Amy E. Weaver sold 5,259 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $151.65, for a total value of $797,527.35. Following the completion of the transaction, the general counsel now owns 30,005 shares of the company’s stock, valued at approximately $4,550,258.25. The disclosure for this sale can be found here. Insiders have sold 295,065 shares of company stock valued at $46,033,032 in the last three months. 5.50% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in CRM. Ibex Wealth Advisors purchased a new position in shares of salesforce.com in the 2nd quarter worth $63,000. Aviva PLC boosted its position in salesforce.com by 0.6% in the second quarter. Aviva PLC now owns 495,861 shares of the CRM provider’s stock worth $75,237,000 after purchasing an additional 3,145 shares during the last quarter. Meadow Creek Investment Management LLC grew its stake 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 valued at $20,018,000 after purchasing an additional 24,354 shares during the period. Impax Asset Management Group plc grew its stake 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 valued at $15,518,000 after purchasing an additional 9,383 shares during the period. Finally, MidWestOne Financial Group Inc. purchased a new stake in shares of salesforce.com during the 2nd quarter valued at about $756,000. 81.32% of the stock is currently owned by 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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