salesforce.com (NYSE:CRM) had its price target increased by JPMorgan Chase & Co. to $140.00 in a report issued on Wednesday. The brokerage presently has an “overweight” rating on the CRM provider’s stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 8.25% from the stock’s previous close.

CRM has been the subject of several other research reports. Jefferies Group raised shares of salesforce.com from a “hold” rating to a “buy” rating and reduced their price objective for the company from $97.00 to $84.00 in a research note on Thursday, February 15th. Barclays boosted their price target on shares of salesforce.com from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 21st. Credit Suisse Group boosted their price target on shares of salesforce.com from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, May 4th. Bank of America reissued a “buy” rating and issued a $161.00 price target on shares of salesforce.com in a research note on Monday, May 21st. Finally, UBS Group set a $144.00 price target on shares of salesforce.com and gave the stock a “buy” rating in a research note on Wednesday, March 21st. Five investment analysts have rated the stock with a hold rating, forty-seven have assigned a buy rating and one has given a strong buy rating to the company. salesforce.com currently has an average rating of “Buy” and an average price target of $133.75.

Shares of salesforce.com opened at $129.33 on Wednesday, Marketbeat.com reports. The company has a market cap of $92.78 billion, a P/E ratio of 287.40, a PEG ratio of 5.36 and a beta of 1.24. salesforce.com has a 12 month low of $83.55 and a 12 month high of $132.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.92.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, May 29th. The CRM provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.46 by $0.28. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.94 billion. salesforce.com had a net margin of 4.33% and a return on equity of 7.69%. salesforce.com’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 earnings per share. equities research analysts anticipate that salesforce.com will post 0.98 earnings per share for the current year.

In other salesforce.com news, CAO Joe Allanson sold 323 shares of the business’s stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $125.95, for a total transaction of $40,681.85. Following the transaction, the chief accounting officer now directly owns 30,619 shares of the company’s stock, valued at approximately $3,856,463.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Marc Benioff sold 5,000 shares of the business’s stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $129.69, for a total transaction of $648,450.00. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 18,000 shares of company stock worth $2,301,780 and have sold 518,281 shares worth $63,975,378. 6.00% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Bessemer Group Inc. increased its position in salesforce.com by 196.4% during the 4th quarter. Bessemer Group Inc. now owns 1,150 shares of the CRM provider’s stock valued at $118,000 after purchasing an additional 762 shares during the period. Harvest Fund Management Co. Ltd increased its position in salesforce.com by 64.1% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,047 shares of the CRM provider’s stock valued at $121,000 after purchasing an additional 409 shares during the period. First Mercantile Trust Co. purchased a new position in salesforce.com during the 4th quarter valued at $123,000. TLP Group LLC increased its position in salesforce.com by 353.9% during the 1st quarter. TLP Group LLC now owns 1,103 shares of the CRM provider’s stock valued at $128,000 after purchasing an additional 860 shares during the period. Finally, Icon Wealth Partners LLC purchased a new position in salesforce.com during the 4th quarter valued at $131,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

About salesforce.com

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.

Analyst Recommendations for salesforce.com (NYSE:CRM)

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