salesforce.com (NYSE:CRM) Receives “Hold” Rating from Needham & Company LLC

salesforce.com (NYSE:CRM)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a report released on Wednesday, AnalystRatings.com reports.

Several other equities analysts have also issued reports on CRM. Goldman Sachs Group set a $191.00 target price on salesforce.com and gave the company a “buy” rating in a research note on Wednesday. Royal Bank of Canada increased their price target on shares of salesforce.com from $181.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. They noted that the move was a valuation call. Robert W. Baird reissued a “buy” rating and set a $185.00 price target on shares of salesforce.com in a research report on Thursday, November 21st. BMO Capital Markets restated an “outperform” rating and issued a $190.00 price target (up from $188.00) on shares of salesforce.com in a report on Wednesday. Finally, JMP Securities reaffirmed a “buy” rating and issued a $191.00 price objective on shares of salesforce.com in a research report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. salesforce.com currently has an average rating of “Buy” and a consensus price target of $188.56.

salesforce.com stock opened at $161.57 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The firm has a market cap of $142.85 billion, a P/E ratio of 111.43, a P/E/G ratio of 7.00 and a beta of 1.24. The business has a fifty day moving average of $157.11 and a two-hundred day moving average of $153.41. salesforce.com has a twelve month low of $120.16 and a twelve month high of $167.56.

salesforce.com (NYSE:CRM) last released its quarterly 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 firm had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.45 billion. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The business’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 company posted $0.61 EPS. Equities analysts expect that salesforce.com will post 1.24 earnings per share for the current year.

In other salesforce.com news, insider Parker Harris sold 620 shares of salesforce.com stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $160.41, for a total transaction of $99,454.20. Following the completion of the transaction, the insider now owns 33,318 shares in the company, valued at approximately $5,344,540.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $164.45, for a total value of $822,250.00. The disclosure for this sale can be found here. Insiders have sold 295,065 shares of company stock valued at $46,033,032 over the last 90 days. 5.50% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Kensico Capital Management Corp acquired a new stake in shares of salesforce.com during the 3rd quarter worth approximately $86,890,000. Metropolitan Life Insurance Co NY increased its holdings in shares of salesforce.com by 13.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 169,656 shares of the CRM provider’s stock valued at $25,184,000 after purchasing an additional 19,720 shares in the last quarter. Man Group plc lifted its stake 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 valued at $19,780,000 after purchasing an additional 67,318 shares during the period. Prestige Wealth Management Group LLC lifted its stake in shares of salesforce.com by 3.7% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,250 shares of the CRM provider’s stock valued at $482,000 after purchasing an additional 116 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in shares of salesforce.com by 9.4% in the 3rd quarter. Squarepoint Ops LLC now owns 64,115 shares of the CRM provider’s stock valued at $9,517,000 after purchasing an additional 5,500 shares during the period. 81.32% of the stock is currently owned by hedge funds and other 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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Analyst Recommendations for salesforce.com (NYSE:CRM)

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