salesforce.com (NYSE:CRM) had its price target boosted by Cowen from $118.00 to $130.00 in a research report sent to investors on Thursday morning. They currently have an outperform rating on the CRM provider’s stock.
Other equities research analysts also recently issued research reports about the company. Guggenheim restated a buy rating and issued a $128.00 target price on shares of salesforce.com in a research report on Thursday, January 11th. Cleveland Research assumed coverage on salesforce.com in a research report on Wednesday, January 31st. They issued a buy rating on the stock. Stifel Nicolaus lifted their target price on salesforce.com from $110.00 to $120.00 and gave the company a buy rating in a research report on Wednesday, November 8th. BTIG Research lifted their target price on salesforce.com to $120.00 and gave the company a buy rating in a research report on Wednesday, November 8th. Finally, Vetr upgraded salesforce.com from a hold rating to a buy rating and set a $113.54 target price on the stock in a research report on Monday, February 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and forty-five have assigned a buy rating to the stock. salesforce.com presently has an average rating of Buy and an average price target of $114.75.
Shares of salesforce.com (NYSE:CRM) opened at $114.96 on Thursday. salesforce.com has a 1 year low of $80.50 and a 1 year high of $115.67. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $83,035.61, a price-to-earnings ratio of 359.25, a price-to-earnings-growth ratio of 6.37 and a beta of 1.32.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its position in salesforce.com by 5.3% during 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 purchasing an additional 675,471 shares during the period. TIAA CREF Investment Management LLC grew its holdings in shares of 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 acquiring an additional 645,099 shares during the period. Brown Advisory Inc. grew its holdings in shares of 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 acquiring an additional 112,839 shares during the period. Tybourne Capital Management HK Ltd. grew its holdings in shares of 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 acquiring an additional 945,000 shares during the period. Finally, Fred Alger Management Inc. grew its holdings in shares of 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 acquiring an additional 76,255 shares during the period. Institutional investors own 86.01% of the company’s stock.
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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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