Investment analysts at RBC Capital boosted their price target on shares of salesforce.com inc. (NYSE:CRM) from $57.00 to $66.00 in a note issued to investors on Tuesday, StockRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target indicates a potential upside of 18.90% from the stock’s previous close.
Shares of salesforce.com inc. (NYSE:CRM) opened at 55.51 on Tuesday. salesforce.com inc. has a 52-week low of $36.09 and a 52-week high of $58.37. The stock has a 50-day moving average of $53.72 and a 200-day moving average of $46.25. The company’s market cap is $33.084 billion. salesforce.com inc. also was the target of unusually large options trading on Monday. Stock investors purchased 66,994 call options on the stock. This is an increase of approximately 666% compared to the average daily volume of 8,748 call options.
salesforce.com inc. (NYSE:CRM) last posted its quarterly earnings results on Monday, November 18th. The company reported $0.09 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.09. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company posted $0.33 earnings per share. salesforce.com inc.’s revenue was up 36.5% compared to the same quarter last year. On average, analysts predict that salesforce.com inc. will post $0.34 earnings per share for the current fiscal year.
In other salesforce.com inc. news, Insider Hilarie Koplow sold 2,333 shares of the company’s stock on the open market in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $55.98, for a total value of $130,601.34. Following the completion of the sale, the insider now directly owns 93,152 shares in the company, valued at approximately $5,214,649. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of salesforce.com inc. in a research note to investors on Monday. They now have a $65.00 price target on the stock, up previously from $58.00. Separately, analysts at Macquarie raised their price target on shares of salesforce.com inc. from $50.00 to $60.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at MKM Partners raised their price target on shares of salesforce.com inc. from $54.00 to $67.00 in a research note to investors on Wednesday, November 13th. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. salesforce.com inc. currently has an average rating of “Buy” and an average price target of $85.46.
Salesforce.com, inc., is a provider of enterprise cloud computing and social enterprise solutions. The Company provides a customer and collaboration relationship management (NYSE:CRM), applications through the Internet or cloud.
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