Nord/LB Reiterates “$275.00” Price Target for salesforce.com (NYSE:CRM)

Nord/LB set a $275.00 price target on salesforce.com (NYSE:CRM) in a research report report published on Tuesday, Price Targets.com reports.

Several other brokerages also recently issued reports on CRM. Robert W. Baird restated a buy rating and issued a $295.00 price objective on shares of salesforce.com in a research report on Sunday, August 22nd. Oppenheimer upped their price objective on salesforce.com from $265.00 to $290.00 and gave the company an outperform rating in a research report on Thursday, August 26th. Piper Sandler upped their price objective on salesforce.com from $240.00 to $280.00 and gave the company a neutral rating in a research report on Thursday, August 26th. Raymond James upped their target price on salesforce.com from $280.00 to $340.00 and gave the company a strong-buy rating in a research note on Thursday, August 26th. Finally, Societe Generale upped their target price on salesforce.com from $290.00 to $321.00 and gave the company a buy rating in a research note on Friday, August 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $298.33.

CRM opened at $254.37 on Tuesday. The business’s fifty day moving average is $251.35 and its two-hundred day moving average is $235.19. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $249.03 billion, a price-to-earnings ratio of 102.16, a PEG ratio of 7.35 and a beta of 1.09. salesforce.com has a one year low of $201.51 and a one year high of $275.22.

salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.56. salesforce.com had a return on equity of 7.15% and a net margin of 9.99%. The company had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the previous year, the business earned $1.44 earnings per share. salesforce.com’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, analysts predict that salesforce.com will post 2.09 EPS for the current fiscal year.

In related news, insider Brent Hyder sold 25,362 shares of the firm’s stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $250.00, for a total value of $6,340,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 819 shares of the firm’s stock in a transaction that occurred on Wednesday, June 23rd. The shares were sold at an average price of $242.40, for a total value of $198,525.60. Following the completion of the sale, the chief financial officer now owns 31,266 shares in the company, valued at $7,578,878.40. The disclosure for this sale can be found here. Insiders have sold a total of 776,356 shares of company stock worth $194,260,597 over the last quarter. Insiders own 4.10% of the company’s stock.

Several hedge funds have recently modified their holdings of CRM. Amundi acquired a new position in shares of salesforce.com during the 2nd quarter valued at $1,100,891,000. Akre Capital Management LLC acquired a new position in shares of salesforce.com during the 2nd quarter valued at $683,956,000. Morgan Stanley increased its position in shares of salesforce.com by 20.2% during the 2nd quarter. Morgan Stanley now owns 16,563,897 shares of the CRM provider’s stock valued at $4,046,065,000 after purchasing an additional 2,787,393 shares during the period. Polen Capital Management LLC increased its position in shares of salesforce.com by 31.0% during the 1st quarter. Polen Capital Management LLC now owns 9,228,555 shares of the CRM provider’s stock valued at $1,955,254,000 after purchasing an additional 2,186,033 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of salesforce.com by 134.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,472,998 shares of the CRM provider’s stock valued at $735,824,000 after purchasing an additional 1,993,259 shares during the period. Institutional investors own 77.33% of the company’s stock.

About salesforce.com

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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