Salesforce (NYSE:CRM – Get Free Report) was upgraded by stock analysts at Erste Group Bank from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat.com reports.
A number of other equities analysts have also recently issued reports on the company. Monness Crespi & Hardt raised Salesforce from a “neutral” rating to a “buy” rating and set a $200.00 target price for the company in a report on Thursday, June 18th. Susquehanna started coverage on Salesforce in a research report on Wednesday, July 1st. They issued a “neutral” rating on the stock. Wolfe Research downgraded shares of Salesforce from an “outperform” rating to a “hold” rating in a report on Wednesday, July 1st. Phillip Securities lowered shares of Salesforce from a “buy” rating to a “hold” rating and reduced their price target for the company from $253.00 to $166.00 in a research report on Monday, June 29th. Finally, Wedbush initiated coverage on shares of Salesforce in a report on Wednesday, July 1st. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, sixteen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $249.51.
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Salesforce Stock Performance
CRM traded up $1.78 during trading on Wednesday, reaching $192.77. 2,838,672 shares of the company’s stock were exchanged, compared to its average volume of 13,742,835. Salesforce has a fifty-two week low of $146.32 and a fifty-two week high of $269.11. The company has a market capitalization of $157.88 billion, a P/E ratio of 22.31, a PEG ratio of 1.01 and a beta of 1.16. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The business has a 50 day moving average price of $170.69 and a 200 day moving average price of $183.76.
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