salesforce.com (NYSE:CRM) Receives Top Pick Rating from Royal Bank of Canada

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Royal Bank of Canada restated their top pick rating on shares of salesforce.com (NYSE:CRM) in a research report report published on Thursday morning, The Fly reports. They currently have a $230.00 target price on the CRM provider’s stock.

A number of other equities research analysts also recently commented on the company. BMO Capital Markets reaffirmed a top pick rating on shares of salesforce.com in a report on Monday, January 20th. Citigroup lifted their target price on salesforce.com from $185.00 to $196.00 and gave the stock a buy rating in a report on Thursday, December 5th. Wedbush lifted their target price on salesforce.com from $192.00 to $217.00 and gave the stock an outperform rating in a report on Wednesday, February 19th. Northland Securities reaffirmed a buy rating and set a $185.00 target price on shares of salesforce.com in a report on Wednesday, December 4th. Finally, SunTrust Banks reaffirmed a buy rating and set a $195.00 target price on shares of salesforce.com in a report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $200.20.

salesforce.com stock opened at $189.50 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. salesforce.com has a 52 week low of $137.87 and a 52 week high of $195.72. The company has a market capitalization of $168.09 billion, a price-to-earnings ratio of 201.60, a price-to-earnings-growth ratio of 8.07 and a beta of 1.19. The stock has a 50-day moving average price of $182.88 and a 200 day moving average price of $161.37.

salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.09. salesforce.com had a return on equity of 5.37% and a net margin of 4.64%. The firm had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue was up 33.0% compared to the same quarter last year. Research analysts anticipate that salesforce.com will post 1.28 EPS for the current fiscal year.

In other news, CEO Marc Benioff sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $193.29, for a total value of $1,932,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark J. Hawkins sold 87,774 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $160.14, for a total value of $14,056,128.36. Following the completion of the sale, the chief financial officer now owns 42,780 shares of the company’s stock, valued at $6,850,789.20. The disclosure for this sale can be found here. Insiders sold 487,201 shares of company stock valued at $83,710,127 over the last 90 days. Company insiders own 5.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of CRM. BlackRock Inc. increased its position in shares of salesforce.com by 4.7% during the second quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock worth $8,521,967,000 after purchasing an additional 2,499,996 shares in the last quarter. State Street Corp increased its position in shares of salesforce.com by 2.2% during the fourth quarter. State Street Corp now owns 35,429,991 shares of the CRM provider’s stock worth $5,762,334,000 after purchasing an additional 762,963 shares in the last quarter. Geode Capital Management LLC increased its position in shares of salesforce.com by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 11,875,146 shares of the CRM provider’s stock worth $1,926,876,000 after purchasing an additional 339,641 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of salesforce.com by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 8,739,204 shares of the CRM provider’s stock worth $1,421,342,000 after purchasing an additional 227,958 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of salesforce.com by 29.3% during the third quarter. Fisher Asset Management LLC now owns 7,265,009 shares of the CRM provider’s stock worth $1,078,418,000 after purchasing an additional 1,646,325 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

salesforce.com Company Profile

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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Analyst Recommendations for salesforce.com (NYSE:CRM)

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