salesforce.com (NYSE:CRM) Reaches New 1-Year High at $288.32

salesforce.com, inc. (NYSE:CRM) shares reached a new 52-week high on Thursday . The stock traded as high as $288.32 and last traded at $288.32, with a volume of 31549 shares. The stock had previously closed at $284.41.

A number of brokerages have recently weighed in on CRM. Evercore ISI upped their price target on shares of salesforce.com from $325.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, September 24th. They noted that the move was a valuation call. Citigroup boosted their price objective on salesforce.com from $250.00 to $280.00 and gave the stock a “neutral” rating in a research note on Thursday, August 26th. JPMorgan Chase & Co. set a $316.00 price target on salesforce.com and gave the stock an “overweight” rating in a report on Friday, September 24th. KGI Securities raised salesforce.com from a “neutral” rating to an “outperform” rating and set a $330.00 price objective for the company in a research report on Thursday, August 26th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $315.00 target price on shares of salesforce.com in a report on Sunday, September 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $311.27.

The company has a fifty day moving average of $262.92 and a two-hundred day moving average of $243.74. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $282.65 billion, a price-to-earnings ratio of 116.08, a PEG ratio of 7.35 and a beta of 1.09.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.56. salesforce.com had a return on equity of 7.15% and a net margin of 9.99%. The firm had revenue of $6.34 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same period in the previous year, the company posted $1.44 EPS. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. Equities analysts forecast that salesforce.com, inc. will post 2.09 EPS for the current year.

In related news, CAO Joe Allanson sold 151 shares of the company’s stock in a transaction dated Monday, July 26th. The shares were sold at an average price of $248.00, for a total transaction of $37,448.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 20,000 shares of the stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $236.17, for a total transaction of $4,723,400.00. The disclosure for this sale can be found here. Insiders sold 789,178 shares of company stock valued at $203,573,681 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Columbia Trust Co 01012016 grew its position in salesforce.com by 3.0% in the third quarter. Columbia Trust Co 01012016 now owns 5,948 shares of the CRM provider’s stock valued at $1,613,000 after acquiring an additional 175 shares in the last quarter. Alpha Omega Wealth Management LLC purchased a new position in salesforce.com during the 3rd quarter valued at about $229,000. Jacobs & Co. CA acquired a new stake in shares of salesforce.com during the 3rd quarter valued at about $200,000. Burns J W & Co. Inc. NY lifted its holdings in salesforce.com by 26.6% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 8,859 shares of the CRM provider’s stock worth $2,403,000 after purchasing an additional 1,859 shares during the last quarter. Finally, Verde Capital Management increased its position in shares of salesforce.com by 4.1% during the third quarter. Verde Capital Management now owns 11,641 shares of the CRM provider’s stock valued at $3,157,000 after purchasing an additional 457 shares during the period. 77.33% of the stock is currently owned by hedge funds and other institutional investors.

salesforce.com Company Profile (NYSE:CRM)

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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