Cowen & Company Initiates Coverage on salesforce.com to Outperform

Cowen & Company Initiates Coverage on salesforce.com(NYSE:CRM). The shares have been rated Outperform. The rating by Cowen & Company was issued on Jun 24, 2016.

In a different note, BMO Capital said it Initiates Coverage on salesforce.com, according to a research note issued on Jun 14, 2016. The shares have been rated ‘Outperform’ by the firm. On Jun 2, 2016, SunTrust Robinson Humphrey said it Maintains its rating on salesforce.com. In the research note, the firm Raises the price-target to $96.00 per share. The shares have been rated ‘Buy’ by the firm. On May 19, 2016, Barclays said it Maintains its rating on salesforce.com. In the research note, the firm Raises the price-target to $88.00 per share. The shares have been rated ‘Overweight’ by the firm. On May 19, 2016, Credit Suisse said it Maintains its rating on salesforce.com. In the research note, the firm Raises the price-target to $110.00 per share. The shares have been rated ‘Outperform’ by the firm. On May 19, 2016, Citigroup said it Maintains its rating on salesforce.com. In the research note, the firm Raises the price-target to $87.00 per share. The shares have been rated ‘Buy’ by the firm. On May 19, 2016, JP Morgan said it Maintains its rating on salesforce.com. In the research note, the firm Raises the price-target to $90.00 per share. The shares have been rated ‘Overweight’ by the firm.

salesforce.com (CRM) made into the market gainers list on Wednesdays trading session with the shares advancing 1.87% or 1.45 points. Due to strong positive momentum, the stock ended at $79, which is also near the day’s high of $79.65. The stock began the session at $78.25 and the volume stood at 54,93,585 shares. The 52-week high of the shares is $84.48 and the 52 week low is $52.6. The company has a current market capitalization of $53,523 M and it has 67,75,00,000 shares in outstanding.

salesforce.com(CRM) last announced its earnings results on May 18, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $1.92B. Analysts had an estimated revenue of $1.89B. Earnings per share were $0.24. Analysts had estimated an EPS of $0.23.

Several Insider Transactions has been reported to the SEC. On Jun 23, 2016, Keith Block (Pres., Vice Chairman and COO) sold 10,000 shares at $81.11 per share price.Also, On Jun 22, 2016, Marc Benioff (Chairman of the Board & CEO) sold 25,000 shares at $81.35 per share price.On Jun 22, 2016, John Victor Roos (director) sold 155 shares at $81.57 per share price, according to the Form-4 filing with the securities and exchange commission.

salesforce.com inc. is a provider of enterprise cloud computing solutions that include apps and platform services as well as professional services. The Company focuses on customer relationship management (CRM). The Company offers six core cloud services that include sales force automation customer service and support marketing automation community management analytics and a cloud platform for building custom applications. The Company offers consulting deployment training implementation and integration services to its customers to facilitate the adoption of its cloud solutions. The Company delivers its solutions as a service through all the Internet browsers and on mobile devices on a subscription basis primarily through its direct sales efforts and indirectly through partners.

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