JPMorgan Chase & Co. Reiterates $316.00 Price Target for salesforce.com (NYSE:CRM)

salesforce.com (NYSE:CRM) has been given a $316.00 price target by research analysts at JPMorgan Chase & Co. in a report released on Friday, Borsen Zeitung reports. JPMorgan Chase & Co.‘s target price points to a potential upside of 13.73% from the company’s previous close.

Other analysts have also recently issued reports about the company. Bank of America raised their price objective on salesforce.com from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, August 26th. Jefferies Financial Group began coverage on salesforce.com in a research report on Tuesday. They issued a “buy” rating and a $325.00 price objective for the company. Credit Suisse Group set a $290.00 price target on salesforce.com in a report on Wednesday, September 1st. Nord/LB set a $275.00 price target on salesforce.com in a report on Tuesday, September 14th. Finally, Canaccord Genuity lifted their price target on salesforce.com from $200.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, August 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $299.98.

Shares of NYSE CRM opened at $277.86 on Friday. The stock has a 50 day moving average price of $253.83 and a 200 day moving average price of $237.32. salesforce.com has a 52 week low of $201.51 and a 52 week high of $279.39. 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 stock has a market capitalization of $272.02 billion, a PE ratio of 111.59, a price-to-earnings-growth ratio of 7.35 and a beta of 1.09.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $6.25 billion. During the same period in the prior year, the firm posted $1.44 earnings per share. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. As a group, research analysts forecast that salesforce.com will post 2.09 EPS for the current year.

In related news, CAO Joe Allanson sold 153 shares of the business’s stock in a transaction dated Friday, July 23rd. The stock was sold at an average price of $248.21, for a total value of $37,976.13. Following the completion of the sale, the chief accounting officer now directly owns 31,412 shares of the company’s stock, valued at approximately $7,796,772.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Srinivas Tallapragada sold 5,000 shares of the business’s stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $251.00, for a total value of $1,255,000.00. Following the completion of the sale, the insider now directly owns 68,921 shares of the company’s stock, valued at $17,299,171. The disclosure for this sale can be found here. Insiders sold a total of 786,605 shares of company stock worth $198,242,927 over the last three months. 4.10% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its holdings in shares of salesforce.com by 11.0% in the second quarter. Sequoia Financial Advisors LLC now owns 40,776 shares of the CRM provider’s stock valued at $9,960,000 after acquiring an additional 4,053 shares in the last quarter. Bfsg LLC grew its holdings in shares of salesforce.com by 8.1% in the second quarter. Bfsg LLC now owns 14,740 shares of the CRM provider’s stock valued at $3,601,000 after acquiring an additional 1,110 shares in the last quarter. Summitry LLC bought a new position in shares of salesforce.com in the first quarter valued at approximately $24,633,000. TIG Advisors LLC grew its holdings in shares of salesforce.com by 221.4% in the first quarter. TIG Advisors LLC now owns 26,812 shares of the CRM provider’s stock valued at $5,681,000 after acquiring an additional 18,470 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC lifted its stake in salesforce.com by 118.3% in the second quarter. Jaffetilchin Investment Partners LLC now owns 8,667 shares of the CRM provider’s stock valued at $2,016,000 after purchasing an additional 4,697 shares during the last quarter. 77.33% of the stock is owned by institutional investors.

salesforce.com Company Profile

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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Analyst Recommendations for salesforce.com (NYSE:CRM)

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