Salesforce (NYSE:CRM – Get Free Report) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “buy” rating in a note issued to investors on Monday, Benzinga reports. The firm presently has a $285.00 target price on the CRM provider’s stock, up from their prior target price of $160.00. Bank of America‘s target price would suggest a potential upside of 24.48% from the company’s current price.
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Other equities analysts also recently issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating on shares of Salesforce in a research report on Thursday, September 17th. Mizuho boosted their price objective on shares of Salesforce from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Citizens Jmp reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Salesforce in a research report on Friday, September 18th. UBS Group reiterated a “buy” rating on shares of Salesforce in a research note on Friday, September 11th. Finally, JPMorgan Chase & Co. increased their price objective on Salesforce from $250.00 to $265.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $278.12.
Read Our Latest Analysis on CRM
Salesforce Stock Performance
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Shares of Salesforce stock opened at $228.95 on Monday. The firm has a market cap of $188.43 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 1.05 and a beta of 1.26. The stock’s 50-day moving average is $226.55 and its 200-day moving average is $192.91. Salesforce has a one year low of $146.32 and a one year high of $269.11. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84.
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