In a report released yesterday, Richard Davis from Canaccord Genuity reiterated a Buy rating on Salesforce.com (NYSE: CRM), with a price target of $100. The company’s shares opened today at $90.95, close to its 52-week high of $91.
According to TipRanks.com, Davis is a top 25 analyst with an average return of 24.3% and a 75.4% success rate. Davis covers the Technology sector, focusing on stocks such as Bottomline Technologies, Nuance Communications, and Ultimate Software.
Currently, the analyst consensus on Salesforce.com is Strong Buy and the average price target is $96.62, representing a 6.2% upside.
In a report issued on May 10, RBC Capital also reiterated a Buy rating on the stock with a $88 price target.
Based on Salesforce.com’s latest earnings report for the quarter ending April 30, the company posted quarterly revenue of $2.39 billion and GAAP net loss of $9.21 million. In comparison, last year the company earned revenue of $1.92 billion and had a net profit of $38.76 million.
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salesforce.com, inc. is a customer relationship management company, which provides enterprise software. Its Customer Success Platform offers a comprehensive portfolio of services, such as sales force automation, customer service and support, marketing automation, digital commerce, community management, analytics, application development, IoT integration, collaborative productivity tools and professional cloud services. The company enables industries and companies of all sizes to connect their customers using cloud, social, mobile and data science technologies. It also encourages third parties to develop additional functionality and new apps that run on its platform and other developer tools. salesforce.com was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.