salesforce.com (NYSE:CRM) Given a $189.00 Price Target by SunTrust Banks Analysts

SunTrust Banks set a $189.00 target price on salesforce.com (NYSE:CRM) in a research report report published on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the CRM provider’s stock.

A number of other equities research analysts also recently weighed in on CRM. Bank of America reaffirmed a buy rating and issued a $200.00 target price on shares of salesforce.com in a report on Wednesday, June 5th. JPMorgan Chase & Co. reaffirmed a buy rating and issued a $180.00 target price on shares of salesforce.com in a report on Monday, June 3rd. Monness Crespi & Hardt reaffirmed a buy rating and issued a $200.00 target price (up previously from $195.00) on shares of salesforce.com in a report on Wednesday, June 5th. Barclays reiterated a buy rating and issued a $182.00 price target on shares of salesforce.com in a research note on Tuesday, June 11th. Finally, ValuEngine cut salesforce.com from a buy rating to a hold rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $182.03.

Shares of CRM stock traded up $6.60 during trading hours on Wednesday, reaching $154.84. The company’s stock had a trading volume of 14,867,732 shares, compared to its average volume of 7,915,767. The firm’s 50 day simple moving average is $151.52 and its 200-day simple moving average is $156.22. The company has a market capitalization of $112.94 billion, a price-to-earnings ratio of 106.79, a PEG ratio of 5.31 and a beta of 1.27. salesforce.com has a fifty-two week low of $113.60 and a fifty-two week high of $167.56. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34.

salesforce.com (NYSE:CRM) last issued its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.57. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The company’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. Sell-side analysts predict that salesforce.com will post 1.26 earnings per share for the current year.

In related news, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $140.98, for a total transaction of $1,409,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 620 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $156.09, for a total value of $96,775.80. Following the transaction, the insider now directly owns 30,281 shares of the company’s stock, valued at $4,726,561.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 297,406 shares of company stock valued at $45,207,736. 5.50% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Chemung Canal Trust Co. grew its holdings in salesforce.com by 1.2% during the 2nd quarter. Chemung Canal Trust Co. now owns 44,078 shares of the CRM provider’s stock worth $6,688,000 after acquiring an additional 505 shares during the period. Hills Bank & Trust Co. grew its holdings in salesforce.com by 5.3% during the 2nd quarter. Hills Bank & Trust Co. now owns 9,480 shares of the CRM provider’s stock worth $1,438,000 after acquiring an additional 473 shares during the period. Chicago Capital LLC grew its stake in shares of salesforce.com by 3.1% in the 2nd quarter. Chicago Capital LLC now owns 209,748 shares of the CRM provider’s stock valued at $31,825,000 after buying an additional 6,237 shares during the period. Retirement Systems of Alabama grew its stake in shares of salesforce.com by 1.0% in the 2nd quarter. Retirement Systems of Alabama now owns 612,105 shares of the CRM provider’s stock valued at $92,875,000 after buying an additional 5,888 shares during the period. Finally, MML Investors Services LLC grew its stake in shares of salesforce.com by 46.5% in the 1st quarter. MML Investors Services LLC now owns 44,065 shares of the CRM provider’s stock valued at $6,979,000 after buying an additional 13,991 shares during the period. Hedge funds and other institutional investors own 82.03% of the company’s stock.

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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