salesforce.com (NYSE:CRM) Given “Outperform” Rating at William Blair

William Blair reiterated their outperform rating on shares of salesforce.com (NYSE:CRM) in a research note issued to investors on Wednesday, RTT News reports.

Several other research analysts have also recently commented on CRM. Jefferies Financial Group reiterated a buy rating and set a $195.00 price target (up previously from $171.00) on shares of salesforce.com in a report on Sunday, November 17th. Wedbush restated an outperform rating and issued a $192.00 price objective on shares of salesforce.com in a report on Thursday, November 21st. UBS Group reaffirmed a buy rating and set a $190.00 price objective on shares of salesforce.com in a research report on Wednesday. Canaccord Genuity reaffirmed a buy rating and set a $185.00 price objective on shares of salesforce.com in a research report on Wednesday. Finally, JMP Securities reissued a buy rating and issued a $191.00 target price on shares of salesforce.com in a report on Monday, November 25th. Five investment 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 stock. The stock has an average rating of Buy and an average target price of $189.38.

NYSE CRM traded up $2.24 during trading hours on Wednesday, hitting $158.67. 5,306,204 shares of the company were exchanged, compared to its average volume of 5,749,019. The company has a 50 day moving average of $157.25 and a two-hundred day moving average of $153.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. salesforce.com has a 52-week low of $120.16 and a 52-week high of $167.56. The firm has a market cap of $142.85 billion, a price-to-earnings ratio of 109.43, a PEG ratio of 7.00 and a beta of 1.24.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.09. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The business had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter last year, the business posted $0.61 EPS. The business’s quarterly revenue was up 33.0% compared to the same quarter last year. On average, equities research analysts predict that salesforce.com will post 1.24 EPS for the current year.

In other salesforce.com news, insider Parker Harris sold 620 shares of salesforce.com stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $149.85, for a total value of $92,907.00. Following the transaction, the insider now directly owns 31,375 shares in the company, valued at approximately $4,701,543.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Amy E. Weaver sold 5,259 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were 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 directly owns 30,005 shares in the company, valued at approximately $4,550,258.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 290,065 shares of company stock valued at $45,266,782. 5.50% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen Asset Management LLC grew its position in salesforce.com by 36,379.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 12,648,680 shares of the CRM provider’s stock valued at $1,919,183,000 after buying an additional 12,614,007 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of salesforce.com by 13.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 33,910,865 shares of the CRM provider’s stock valued at $5,145,296,000 after acquiring an additional 4,046,077 shares in the last quarter. State Street Corp boosted its holdings in shares of salesforce.com by 12.1% in the third quarter. State Street Corp now owns 34,667,028 shares of the CRM provider’s stock valued at $5,145,974,000 after acquiring an additional 3,749,613 shares in the last quarter. Viking Global Investors LP acquired a new position in shares of salesforce.com during the second quarter worth about $443,415,000. Finally, BlackRock Inc. increased its stake in shares of salesforce.com by 4.7% during the second quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock worth $8,521,967,000 after acquiring an additional 2,499,996 shares during the period. 81.32% of the stock is owned by hedge funds and other 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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