After Canaccord Genuity and BMO Capital gave Salesforce.com (NYSE: CRM) a Buy rating last month, the company received another Buy, this time from Credit Suisse. Analyst Brad Zelnick assigned a Buy rating to Salesforce.com (NYSE: CRM) yesterday and set a price target of $155. The company’s shares closed yesterday at $146.96, close to its 52-week high of $148.70.
Zelnick observed:
“We think this fits well with CRM’s marketing cloud, appreciate Datorama’s deep pre-existing Salesforce integrations, and believe its offering is highly complementary to Einstein and Google Analytics 360.”
According to TipRanks.com, Zelnick is a 4-star analyst with an average return of 11.2% and a 72.6% success rate. Zelnick covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Cornerstone Ondemand, and Ultimate Software.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Salesforce.com with a $150.42 average price target, which is a 2.4% upside from current levels. In a report issued on July 10, JMP Securities also maintained a Buy rating on the stock with a $163 price target.
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The company has a one-year high of $148.70 and a one-year low of $87.26. Currently, Salesforce.com has an average volume of 4.86M.
Based on the recent corporate insider activity of 429 insiders, corporate insider sentiment is negative on the stock.
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