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.
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.
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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