salesforce.com (CRM) Given New $182.00 Price Target at Royal Bank of Canada

salesforce.com (NYSE:CRM) had its price objective boosted by Royal Bank of Canada to $182.00 in a note issued to investors on Thursday, The Fly reports. Royal Bank of Canada’s price target suggests a potential upside of 14.95% from the company’s current price. The analysts noted that the move was a valuation call.

Several other brokerages have also recently commented on CRM. SunTrust Banks increased their target price on shares of salesforce.com to $170.00 and gave the stock a “positive” rating in a report on Thursday, August 30th. Deutsche Bank increased their target price on shares of salesforce.com from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, May 30th. Canaccord Genuity increased their target price on shares of salesforce.com from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, May 30th. Pivotal Research increased their target price on shares of salesforce.com from $120.00 to $140.00 and gave the stock a “hold” rating in a report on Tuesday, September 4th. Finally, Morgan Stanley increased their target price on shares of salesforce.com from $153.00 to $178.00 and gave the stock an “overweight” rating in a report on Tuesday, August 14th. Five analysts have rated the stock with a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $161.24.

Shares of CRM opened at $158.33 on Thursday. salesforce.com has a 12 month low of $92.43 and a 12 month high of $159.93. The firm has a market cap of $120.22 billion, a P/E ratio of 351.84, a price-to-earnings-growth ratio of 5.22 and a beta of 1.27. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23.

salesforce.com (NYSE:CRM) last announced its earnings results on Wednesday, August 29th. The CRM provider reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.24. salesforce.com had a net margin of 6.45% and a return on equity of 8.27%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. The firm’s revenue was up 27.3% on a year-over-year basis. equities research analysts predict that salesforce.com will post 1.22 EPS for the current year.

In other news, CAO Joe Allanson sold 272 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $151.53, for a total value of $41,216.16. Following the transaction, the chief accounting officer now directly owns 30,310 shares of the company’s stock, valued at $4,592,874.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Victor Roos sold 176 shares of the stock in a transaction dated Thursday, July 12th. The shares were sold at an average price of $145.80, for a total transaction of $25,660.80. Following the completion of the transaction, the director now directly owns 13,217 shares in the company, valued at $1,927,038.60. The disclosure for this sale can be found here. Over the last three months, insiders bought 18,000 shares of company stock worth $2,701,020 and sold 550,577 shares worth $82,255,385. 6.00% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. TLP Group LLC grew its stake in shares of salesforce.com by 353.9% in the first quarter. TLP Group LLC now owns 1,103 shares of the CRM provider’s stock valued at $128,000 after acquiring an additional 860 shares in the last quarter. Private Capital Group LLC grew its stake in shares of salesforce.com by 91.9% in the first quarter. Private Capital Group LLC now owns 1,134 shares of the CRM provider’s stock valued at $132,000 after acquiring an additional 543 shares in the last quarter. Resources Investment Advisors Inc. grew its stake in shares of salesforce.com by 328.2% in the second quarter. Resources Investment Advisors Inc. now owns 1,259 shares of the CRM provider’s stock valued at $172,000 after acquiring an additional 965 shares in the last quarter. CWM LLC grew its stake in shares of salesforce.com by 95.8% in the second quarter. CWM LLC now owns 1,318 shares of the CRM provider’s stock valued at $180,000 after acquiring an additional 645 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new position in shares of salesforce.com in the first quarter valued at about $200,000. 82.71% of the stock is currently owned by 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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