Jefferies Financial Group Lowers salesforce.com (NYSE:CRM) Price Target to $330.00

salesforce.com (NYSE:CRM – Get Rating) had its target price dropped by Jefferies Financial Group from $360.00 to $330.00 in a note issued to investors on Monday, The Fly reports. The brokerage presently has a “buy” rating on the CRM provider’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 92.67% from the company’s current price.

Several other research firms have also commented on CRM. Royal Bank of Canada set a $325.00 price target on salesforce.com in a research report on Wednesday, March 2nd. Canaccord Genuity Group reduced their target price on salesforce.com from $315.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, March 2nd. Robert W. Baird reduced their target price on salesforce.com from $315.00 to $300.00 in a research report on Wednesday, March 2nd. BMO Capital Markets upped their target price on salesforce.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, March 2nd. Finally, Citigroup upped their target price on salesforce.com from $220.00 to $233.00 in a research report on Wednesday, March 2nd. Seven analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $299.50.

NYSE CRM traded down $0.15 on Monday, reaching $171.28. 52,727 shares of the stock traded hands, compared to its average volume of 7,212,258. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The company has a fifty day moving average price of $202.74 and a 200-day moving average price of $241.30. The company has a market cap of $169.57 billion, a price-to-earnings ratio of 114.64, a PEG ratio of 5.05 and a beta of 1.10. salesforce.com has a 12 month low of $170.20 and a 12 month high of $311.75.

salesforce.com (NYSE:CRM – Get Rating) last issued its earnings results on Tuesday, March 1st. The CRM provider reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.12. The business had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.24 billion. salesforce.com had a return on equity of 4.76% and a net margin of 5.45%. salesforce.com’s revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 EPS. As a group, research analysts anticipate that salesforce.com will post 2.1 earnings per share for the current fiscal year.

In related news, CEO Marc Benioff sold 2,300 shares of salesforce.com stock in a transaction on Wednesday, January 26th. The stock was sold at an average price of $215.72, for a total value of $496,156.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Srinivas Tallapragada sold 20,000 shares of salesforce.com stock in a transaction on Monday, February 7th. The shares were sold at an average price of $220.17, for a total value of $4,403,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 162,715 shares of company stock valued at $33,673,096. Insiders own 4.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vectors Research Management LLC lifted its holdings in salesforce.com by 128.9% during the 4th quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock worth $26,000 after buying an additional 58 shares during the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in salesforce.com during the 4th quarter worth about $27,000. Financial Enhancement Group LLC lifted its holdings in salesforce.com by 589.5% during the 4th quarter. Financial Enhancement Group LLC now owns 131 shares of the CRM provider’s stock worth $33,000 after buying an additional 112 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in salesforce.com during the 4th quarter worth about $35,000. Finally, First Personal Financial Services lifted its holdings in salesforce.com by 83.3% during the 3rd quarter. First Personal Financial Services now owns 132 shares of the CRM provider’s stock worth $36,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 77.16% of the company’s stock.

salesforce.com Company Profile (Get Rating)

salesforce.com, inc. provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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