Salesforce.com Inc. (NYSE:CRM) was upgraded by OTR Global from a “mixed” rating to a “positive” rating in a research note issued to investors on Tuesday.

CRM has been the subject of a number of other research reports. Bank of America Corp. reissued a “buy” rating and set a $77.82 price target (down previously from $100.00) on shares of Salesforce.com in a research report on Thursday, August 25th. Citigroup Inc. decreased their target price on Salesforce.com from $97.00 to $94.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $100.00 target price on shares of Salesforce.com in a research report on Thursday, September 1st. Cowen and Company reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Salesforce.com in a research report on Wednesday, October 12th. Finally, DA Davidson decreased their target price on Salesforce.com from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, October 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-six have issued a buy rating to the stock. Salesforce.com currently has a consensus rating of “Buy” and a consensus price target of $92.02.

Analyst Recommendations for Salesforce.com (NYSE:CRM)

Salesforce.com (NYSE:CRM) opened at 73.31 on Tuesday. The firm has a market cap of $50.22 billion, a price-to-earnings ratio of 226.27 and a beta of 1.55. The firm’s 50-day moving average price is $73.44 and its 200 day moving average price is $77.52. Salesforce.com has a 52-week low of $52.60 and a 52-week high of $84.48.

Salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The firm earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the business earned $0.19 earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, equities research analysts forecast that Salesforce.com will post $0.95 EPS for the current year.

In related news, Chairman Marc Benioff sold 25,000 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $77.23, for a total value of $1,930,750.00. Following the completion of the transaction, the chairman now directly owns 35,383,000 shares of the company’s stock, valued at approximately $2,732,629,090. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexandre Dayon sold 2,158 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $73.82, for a total transaction of $159,303.56. Following the completion of the transaction, the insider now directly owns 17,454 shares of the company’s stock, valued at $1,288,454.28. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in CRM. Signaturefd LLC raised its position in shares of Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock worth $107,000 after buying an additional 693 shares during the last quarter. M&R Capital Management Inc. bought a new position in shares of Salesforce.com during the second quarter worth $119,000. NEXT Financial Group Inc raised its position in shares of Salesforce.com by 2.3% in the third quarter. NEXT Financial Group Inc now owns 1,754 shares of the CRM provider’s stock worth $125,000 after buying an additional 39 shares during the last quarter. Ropes Wealth Advisors LLC raised its position in shares of Salesforce.com by 128.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider’s stock worth $143,000 after buying an additional 1,009 shares during the last quarter. Finally, Global X Management Co. LLC raised its position in shares of Salesforce.com by 278.4% in the third quarter. Global X Management Co. LLC now owns 2,066 shares of the CRM provider’s stock worth $147,000 after buying an additional 1,520 shares during the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.

About Salesforce.com

salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.

5 Day Chart for NYSE:CRM

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