A number of stock research firms have changed their ratings and price targets for Salesforce.com (NYSE: CRM) during the last seven days:
- Salesforce.com had its “overweight” rating reaffirmed by analysts at Piper Jaffray. They now have a $208.00 price target on the stock.
- Salesforce.com had its price target raised by analysts at Oppenheimer from $200.00 to $210.00. They now have an “outperform” rating on the stock.
- Salesforce.com had its price target raised by analysts at Bank of America from $200.00 to $228.00. They now have a “buy” rating on the stock.
- Salesforce.com had its price target raised by analysts at Macquarie from $170.00 to $190.00. They now have an “outperform” rating on the stock.
- Salesforce.com had its price target raised by analysts at Robert W. Baird from $175.00 to $180.00. They now have an “outperform” rating on the stock.
- Salesforce.com had its price target raised by analysts at Stifel Nicolaus from $190.00 to $210.00. They now have a “buy” rating on the stock. They wrote, “On Thursday, February 28, after the market close, salesforce.com reported F4Q13 results that came in solidly ahead of analyst expectations, with calculated bookings in particular coming in meaningfully above the company’s guidance. While strength during the quarter was broad-based, we were pleased to see the company close an impressive 150 deals with value of greater than $1mn, nine of which were in the eight-figure range. All told, we believe that salesforce.com continues to gain momentum in transforming itself into an integral technology asset within leading large enterprises.”
- Salesforce.com had its price target raised by analysts at Needham & Company from $180.00 to $200.00. They now have a “buy” rating on the stock.
- Salesforce.com had its price target raised by analysts at MKM Partners from $185.00 to $203.00. They now have a “buy” rating on the stock.
- Salesforce.com had its price target raised by analysts at Roth Capital from $180.00 to $200.00. They now have a “buy” rating on the stock.
- Salesforce.com had its price target raised by analysts at Susquehanna from $185.00 to $200.00. They now have a “positive” rating on the stock.
- Salesforce.com had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $200.00 price target on the stock.
- Salesforce.com had its “outperform” rating reaffirmed by analysts at Credit Suisse. They now have a $200.00 price target on the stock, up previously from $185.00. They wrote, “Salesforce.com delivered strong January quarter results with revenue, EPS, deferred revenue, and billings above consensus. Salesforce.com’s results reinforce our theses on both (1) a multiyear upgrade/expansion cycle for CRM applications and (2) the continued demand for applications that can help boost revenue growth and improve productivity. In fact, CEO Marc Benioff’s commentary reinforced our belief that CEOs are increasingly focused on retaining existing customers and attracting new customers and are willing to spend on technologies to achieve these goals despite macroeconomic uncertainty (which continues to drive new business signings for the Service Cloud and the Marketing and Sales Clouds, respectively).”
- Salesforce.com had its “buy” rating reaffirmed by analysts at Goldman Sachs. They now have a $205.00 price target on the stock, up previously from $190.00. They wrote, “salesforce.com reported F4Q13 results after the close, with every metric posting material upside to consensus as the company’s large deal volume of 7- and 8-figure deals continued to accelerate. The company reported F4Q13 revenue and non-GAAP EPS of $835mn and $0.51 versus consensus of $831mn and $0.40 (guidance $825mn-$830mn and $0.38-$0.40 respectively). We note that a lower tax rate acted as a $0.07 tailwind to non-GAAP EPS, suggesting the real beat was $0.04 versus our forecasts. While many investors have been waiting to see if salesforce.com could post material leverage, this quarter the company did not disappoint in this regard. However, we note that last time the company beat the high end of earnings guidance by at least $0.04 was the January 2011 quarter, with a beat of $0.05. Non-GAAP operating margins came in at 12.9%, 120bp ahead of the Street.”
- Salesforce.com was given a new $200.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
- Salesforce.com had its price target raised by analysts at Credit Agricole from $190.00 to $207.00. They now have a “buy” rating on the stock.
- Salesforce.com had its price target raised by analysts at Raymond James from $200.00 to $210.00.
- Salesforce.com had its price target raised by analysts at Wedbush from $195.00 to $206.00. They now have an “outperform” rating on the stock.
- Salesforce.com had its “hold” rating reaffirmed by analysts at TheStreet. They wrote, “Salesforce.com (CRM) has been reiterated by TheStreet Ratings as a hold with a ratings score of C . The company’s strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow.”
- Salesforce.com had its “buy” rating reaffirmed by analysts at Deutsche Bank. They now have a $230.00 price target on the stock.
Shares of Salesforce.com opened at 185.77 on Wednesday. Salesforce.com has a 52 week low of $120.18 and a 52 week high of $186.63. The stock’s 50-day moving average is currently $172.4. The company’s market cap is $26.931 billion.
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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