salesforce.com (CRM) Rating Increased to Buy at Jefferies Group

salesforce.com (NYSE:CRM) was upgraded by equities researchers at Jefferies Group from a “hold” rating to a “buy” rating in a research note issued on Thursday, The Fly reports.

Other research analysts have also recently issued reports about the stock. SunTrust Banks reissued a “buy” rating and set a $114.00 price objective on shares of salesforce.com in a research note on Friday, November 3rd. Guggenheim began coverage on shares of salesforce.com in a research note on Monday, October 30th. They set a “buy” rating and a $125.00 price objective for the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $109.00 target price on shares of salesforce.com in a research note on Friday, October 20th. Citigroup lifted their target price on shares of salesforce.com to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $115.00 target price on shares of salesforce.com in a research note on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $113.62.

salesforce.com (NYSE CRM) opened at $109.02 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. salesforce.com has a 12 month low of $80.25 and a 12 month high of $114.52. The firm has a market cap of $77,784.49, a P/E ratio of 10,902.00, a PEG ratio of 5.97 and a beta of 1.32.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. salesforce.com had a net margin of 0.09% and a return on equity of 2.81%. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the company posted $0.24 EPS. The company’s revenue was up 25.0% on a year-over-year basis. research analysts predict that salesforce.com will post 0.43 earnings per share for the current year.

In other salesforce.com news, CAO Joe Allanson sold 622 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $106.77, for a total value of $66,410.94. Following the transaction, the chief accounting officer now owns 29,062 shares in the company, valued at approximately $3,102,949.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Marc Benioff sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $113.93, for a total transaction of $569,650.00. The disclosure for this sale can be found here. Insiders sold a total of 469,180 shares of company stock worth $50,769,663 in the last quarter. 6.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in salesforce.com by 5.3% in the 3rd quarter. Janus Henderson Group PLC now owns 13,435,212 shares of the CRM provider’s stock worth $1,255,082,000 after buying an additional 675,471 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in salesforce.com by 7.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 9,865,725 shares of the CRM provider’s stock worth $1,008,573,000 after buying an additional 645,099 shares in the last quarter. Brown Advisory Inc. lifted its holdings in salesforce.com by 2.4% in the 4th quarter. Brown Advisory Inc. now owns 4,756,094 shares of the CRM provider’s stock worth $486,216,000 after buying an additional 112,839 shares in the last quarter. Tybourne Capital Management HK Ltd. lifted its holdings in salesforce.com by 27.8% in the 4th quarter. Tybourne Capital Management HK Ltd. now owns 4,346,500 shares of the CRM provider’s stock worth $444,343,000 after buying an additional 945,000 shares in the last quarter. Finally, Fred Alger Management Inc. lifted its holdings in salesforce.com by 2.1% in the 4th quarter. Fred Alger Management Inc. now owns 3,683,014 shares of the CRM provider’s stock worth $376,515,000 after buying an additional 76,255 shares in the last quarter. Hedge funds and other institutional investors own 85.33% of the company’s stock.

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About salesforce.com

Salesforce.com, Inc is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.

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