CLSA Upgrades Salesforce.com to Buy (CRM)

By admin | 6 years ago

Salesforce.com (NYSE: CRM) was upgraded by equities researchers at CLSA from an “outperform” rating to a “buy” rating in a report issued on Friday.

Shares of Salesforce.com traded down 0.25% during mid-day trading on Friday, hitting $145.21. Salesforce.com has a 52 week low of $94.09 and a 52 week high of $164.75. The company’s market cap is $20.061 billion.

Salesforce.com last announced its earnings results on Thursday, May 17th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.03. The company’s revenue for the quarter was up 37.8% on a year-over-year basis. On average, analysts predict that Salesforce.com will post $0.40 earnings per share next quarter.

A number of other analysts have also recently weighed in on CRM. Analysts at Wunderlich reiterated a “buy” rating on shares of Salesforce.com in a research note to investors on Wednesday, May 16th. They now have a $168.00 price target on the stock. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Salesforce.com in a research note to investors on Wednesday, May 16th. Finally, analysts at Goldman Sachs (NYSE: GS) reiterated a “neutral” rating on shares of Salesforce.com in a research note to investors on Monday, May 14th. They now have a $170.00 price target on the stock.

Salesforce.com, inc. is a provider of enterprise cloud computing and social enterprise solutions. The Company provides a customer and collaboration relationship management (CRM), applications through the Internet or cloud.

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