salesforce.com (NYSE:CRM) received a $184.00 price objective from analysts at Nomura in a report issued on Tuesday. The brokerage presently has a “buy” rating on the CRM provider’s stock. Nomura’s price target would indicate a potential upside of 17.35% from the company’s current price.
Other equities analysts have also issued research reports about the stock. Wedbush upped their price objective on shares of salesforce.com from $160.00 to $166.00 in a report on Sunday, December 2nd. TheStreet upgraded shares of salesforce.com from a “c+” rating to a “b” rating in a report on Thursday, January 31st. Credit Suisse Group reiterated a “buy” rating and set a $175.00 price objective on shares of salesforce.com in a report on Wednesday, November 28th. Citigroup upped their price objective on shares of salesforce.com from $178.00 to $183.00 and gave the company a “buy” rating in a report on Wednesday, November 28th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $160.00 price objective on shares of salesforce.com in a report on Wednesday, November 28th. Three equities research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $176.37.
CRM stock opened at $156.79 on Tuesday. The firm has a market capitalization of $123.40 billion, a P/E ratio of 348.42, a PEG ratio of 5.23 and a beta of 1.37. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. salesforce.com has a 12-month low of $111.34 and a 12-month high of $166.15.
In related news, insider Mark J. Hawkins sold 846 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $157.00, for a total value of $132,822.00. Following the sale, the insider now owns 21,194 shares in the company, valued at approximately $3,327,458. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Marc Benioff sold 157,472 shares of the company’s stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $133.21, for a total transaction of $20,976,845.12. Following the completion of the sale, the chairman now owns 32,179,928 shares in the company, valued at approximately $4,286,688,208.88. The disclosure for this sale can be found here. Insiders sold a total of 533,921 shares of company stock worth $76,852,592 in the last 90 days. 6.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. American Century Companies Inc. grew its position in salesforce.com by 3.4% in the 4th quarter. American Century Companies Inc. now owns 3,220,615 shares of the CRM provider’s stock worth $441,128,000 after purchasing an additional 105,845 shares in the last quarter. Belpointe Asset Management LLC grew its position in salesforce.com by 126.5% in the 4th quarter. Belpointe Asset Management LLC now owns 11,920 shares of the CRM provider’s stock worth $1,633,000 after purchasing an additional 6,658 shares in the last quarter. Norges Bank bought a new stake in salesforce.com in the 4th quarter worth about $938,778,000. Actinver Wealth Management Inc. bought a new stake in salesforce.com in the 4th quarter worth about $535,000. Finally, Coldstream Capital Management Inc. grew its position in salesforce.com by 24.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,824 shares of the CRM provider’s stock worth $387,000 after purchasing an additional 555 shares in the last quarter. 83.17% of the stock is owned by institutional investors and hedge funds.
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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