salesforce.com (CRM) Cut to “Positive” at OTR Global

OTR Global lowered shares of salesforce.com (NYSE:CRM) to a positive rating in a report issued on Wednesday morning, The Fly reports.

Several other research analysts also recently issued reports on CRM. Zacks Investment Research downgraded salesforce.com from a buy rating to a hold rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. reaffirmed a buy rating and issued a $180.00 target price on shares of salesforce.com in a research note on Wednesday, April 17th. Robert W. Baird lifted their target price on shares of salesforce.com from $165.00 to $175.00 and gave the stock an outperform rating in a research note on Tuesday, March 5th. Mizuho initiated coverage on shares of salesforce.com in a research note on Wednesday, March 13th. They issued a buy rating and a $185.00 target price for the company. Finally, JMP Securities reaffirmed a buy rating and issued a $178.00 target price on shares of salesforce.com in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $177.82.

CRM stock opened at $154.57 on Wednesday. salesforce.com has a 12-month low of $113.60 and a 12-month high of $167.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $122.15 billion, a PE ratio of 106.60, a P/E/G ratio of 5.85 and a beta of 1.37.

salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.14. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period last year, the firm earned $0.35 EPS. On average, analysts forecast that salesforce.com will post 1.18 earnings per share for the current year.

In other news, Director Craig Conway sold 200 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $161.00, for a total transaction of $32,200.00. Following the completion of the sale, the director now directly owns 9,310 shares of the company’s stock, valued at approximately $1,498,910. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Amy E. Weaver sold 494 shares of the business’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $162.13, for a total transaction of $80,092.22. Following the sale, the general counsel now directly owns 23,956 shares of the company’s stock, valued at $3,883,986.28. The disclosure for this sale can be found here. Insiders have sold a total of 433,731 shares of company stock valued at $69,408,200 over the last three months. Corporate insiders own 5.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Avondale Wealth Management boosted its position in salesforce.com by 100.0% during the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock worth $25,000 after purchasing an additional 80 shares during the period. Citizens Financial Group Inc RI purchased a new stake in salesforce.com during the 1st quarter worth $27,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in salesforce.com during the 4th quarter worth $28,000. CX Institutional boosted its position in salesforce.com by 426.5% during the 1st quarter. CX Institutional now owns 179 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 145 shares during the period. Finally, Arcadia Investment Management Corp MI boosted its position in salesforce.com by 63.0% during the 1st quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 68 shares during the period. 83.13% of the stock is owned by institutional investors.

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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