JMP Securities Believes Salesforce.com (CRM) Still Has Room to Grow
JMP Securities analyst Patrick Walravens maintained a Buy rating on Salesforce.com (CRM) on March 11 and set a price target of $178. The company’s shares opened today at $158.85, close to its 52-week high of $166.15.
According to TipRanks.com, Walravens is a top 100 analyst with an average return of 20.9% and a 73.7% success rate. Walravens covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Coupa Software Inc, and Ellie Mae Inc.
Salesforce.com has an analyst consensus of Strong Buy, with a price target consensus of $183.48, representing a 15.5% upside. In a report issued on February 25, Jefferies also maintained a Buy rating on the stock with a $189 price target.
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Based on Salesforce.com’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $3.6 billion and net profit of $362 million. In comparison, last year the company had a net profit of $67.56 million.
Based on the recent corporate insider activity of 511 insiders, corporate insider sentiment is negative on the stock.
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