After Cowen & Co. and Monness gave Salesforce.com (NYSE: CRM) a Buy rating last month, the company received another Buy, this time from Merrill Lynch. Analyst Kash Rangan maintained a Buy rating on Salesforce.com today and set a price target of $200. The company’s shares closed yesterday at $150.15.
According to TipRanks.com, Rangan is a 5-star analyst with an average return of 12.7% and a 67.3% success rate. Rangan covers the Technology sector, focusing on stocks such as Zoom Video Communications Inc Class A, Cloudera Inc, and DocuSign Inc.
Currently, the analyst consensus on Salesforce.com is a Strong Buy with an average price target of $182.68, which is a 21.7% upside from current levels. In a report issued on May 28, Monness also maintained a Buy rating on the stock with a $195 price target.
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The company has a one-year high of $167.56 and a one-year low of $113.60. Currently, Salesforce.com has an average volume of 5.33M.
Based on the recent corporate insider activity of 506 insiders, corporate insider sentiment is negative on the stock. Last month, Parker Harris, the Co-Founder and CTO of CRM sold 1,315 shares for a total of $201,905.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
