salesforce.com (NYSE:CRM) Given Buy Rating at Jefferies Financial Group

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Jefferies Financial Group restated their buy rating on shares of salesforce.com (NYSE:CRM) in a research report report published on Sunday morning, The Fly reports. Jefferies Financial Group currently has a $195.00 price objective on the CRM provider’s stock, up from their prior price objective of $171.00.

Several other brokerages also recently issued reports on CRM. Northland Securities set a $185.00 price target on salesforce.com and gave the company a buy rating in a report on Friday, August 23rd. KeyCorp set a $180.00 price target on salesforce.com and gave the company a buy rating in a report on Thursday, August 22nd. TheStreet downgraded salesforce.com from a b rating to a c rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. set a $180.00 price target on salesforce.com and gave the company a buy rating in a report on Friday, August 23rd. Finally, Macquarie increased their price target on salesforce.com from $184.00 to $190.00 and gave the company an outperform rating in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the stock. salesforce.com presently has an average rating of Buy and an average target price of $186.25.

Shares of CRM traded down $0.44 during trading hours on Friday, hitting $162.77. The stock had a trading volume of 5,382,590 shares, compared to its average volume of 5,717,319. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $142.99 billion, a P/E ratio of 112.26, a P/E/G ratio of 6.90 and a beta of 1.22. The company’s fifty day simple moving average is $152.69 and its 200 day simple moving average is $153.18. salesforce.com has a 12-month low of $113.60 and a 12-month high of $167.56.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Thursday, August 22nd. The CRM provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.57. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the firm earned $0.71 EPS. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, sell-side analysts predict that salesforce.com will post 1.26 earnings per share for the current fiscal year.

In related news, CAO Joe Allanson sold 167 shares of salesforce.com stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $154.07, for a total value of $25,729.69. Following the completion of the transaction, the chief accounting officer now directly owns 30,958 shares in the company, valued at $4,769,699.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 620 shares of salesforce.com stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $145.50, for a total value of $90,210.00. Following the completion of the transaction, the insider now owns 30,092 shares of the company’s stock, valued at $4,378,386. The disclosure for this sale can be found here. Insiders have sold 250,199 shares of company stock valued at $38,265,597 over the last 90 days. Insiders own 5.50% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Bray Capital Advisors grew its stake in salesforce.com by 0.3% in the third quarter. Bray Capital Advisors now owns 23,420 shares of the CRM provider’s stock worth $3,476,000 after purchasing an additional 65 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in salesforce.com by 4.6% in the third quarter. Chicago Partners Investment Group LLC now owns 1,472 shares of the CRM provider’s stock worth $218,000 after acquiring an additional 65 shares during the last quarter. Citizens Financial Group Inc RI lifted its holdings in salesforce.com by 21.9% in the third quarter. Citizens Financial Group Inc RI now owns 379 shares of the CRM provider’s stock worth $56,000 after acquiring an additional 68 shares during the last quarter. Allred Capital Management LLC lifted its holdings in salesforce.com by 1.6% in the second quarter. Allred Capital Management LLC now owns 4,494 shares of the CRM provider’s stock worth $692,000 after acquiring an additional 71 shares during the last quarter. Finally, Clear Perspective Advisors LLC lifted its holdings in salesforce.com by 4.6% in the second quarter. Clear Perspective Advisors LLC now owns 1,646 shares of the CRM provider’s stock worth $250,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 74.99% of the company’s stock.

About salesforce.com

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.

Read More: Why does a company issue an IPO?

The Fly

Analyst Recommendations for salesforce.com (NYSE:CRM)

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