salesforce.com (NYSE:CRM) PT Lowered to $223.00

salesforce.com (NYSE:CRMGet Rating) had its target price decreased by investment analysts at KeyCorp from $281.00 to $223.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the CRM provider’s stock. KeyCorp’s price target points to a potential upside of 30.08% from the stock’s previous close.

CRM has been the subject of a number of other reports. Cowen dropped their price target on shares of salesforce.com from $325.00 to $285.00 in a research report on Monday, February 28th. The Goldman Sachs Group set a $360.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a report on Wednesday, March 2nd. Zacks Investment Research lowered shares of salesforce.com from a “strong-buy” rating to a “hold” rating and set a $244.00 target price for the company. in a report on Tuesday, February 1st. Royal Bank of Canada set a $325.00 target price on shares of salesforce.com in a report on Wednesday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of salesforce.com from $360.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, January 21st. Seven investment analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $300.25.

NYSE CRM opened at $171.43 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. salesforce.com has a twelve month low of $171.10 and a twelve month high of $311.75. The firm has a market capitalization of $169.72 billion, a PE ratio of 114.29, a P/E/G ratio of 5.05 and a beta of 1.10. The stock’s 50 day moving average is $202.74 and its 200 day moving average is $241.30.

salesforce.com (NYSE:CRMGet Rating) last issued its earnings results on Tuesday, March 1st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.12. The business had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.24 billion. salesforce.com had a net margin of 5.45% and a return on equity of 4.76%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. On average, research analysts anticipate that salesforce.com will post 2.1 earnings per share for the current year.

In related news, CFO Amy E. Weaver sold 2,625 shares of the business’s stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $210.93, for a total transaction of $553,691.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 20,000 shares of the business’s stock in a transaction on Monday, February 7th. The stock was 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. Insiders sold a total of 162,715 shares of company stock worth $33,673,096 in the last quarter. Company insiders own 4.10% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of salesforce.com during the 3rd quarter worth about $6,789,000. Voya Investment Management LLC boosted its position in shares of salesforce.com by 1.0% during the 3rd quarter. Voya Investment Management LLC now owns 372,747 shares of the CRM provider’s stock worth $101,097,000 after acquiring an additional 3,858 shares in the last quarter. Candlestick Capital Management LP boosted its position in shares of salesforce.com by 719.0% during the 3rd quarter. Candlestick Capital Management LP now owns 203,204 shares of the CRM provider’s stock worth $55,113,000 after acquiring an additional 178,392 shares in the last quarter. Trust Co. of Vermont boosted its position in shares of salesforce.com by 1.6% during the 4th quarter. Trust Co. of Vermont now owns 34,489 shares of the CRM provider’s stock worth $8,765,000 after acquiring an additional 528 shares in the last quarter. Finally, Veritable L.P. boosted its position in shares of salesforce.com by 2.9% during the 3rd quarter. Veritable L.P. now owns 17,026 shares of the CRM provider’s stock worth $4,618,000 after acquiring an additional 482 shares in the last quarter. 77.16% of the stock is owned by hedge funds and other institutional investors.

About salesforce.com (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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