salesforce.com inc (NYSE:CRM) reaching 52-week high, short interest surging

salesforce.com inc (NYSE:CRM) (Trend Analysis) shares were traded with thin volume. The stock closed last trading session at $76.3, up by 2.6%, with a volume of 5,969,184 shares against an average amount for the last three months of 7,876,420.

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salesforce.com inc (NYSE:CRM) stock is currently trading 9.68% below its 52-week-high, 45.06% above its 52-week-low. The 1-year stock price history is in the range of $52.6 – $84.48. salesforce.com inc (CRM) has a price to earnings ratio of 235.49 versus Technology sector average of 24.21. CRM stock price has underperformed the S&P 500 by 6.6%. The Applications Software company is currently valued at $52.27 billion, and its share price closed the last trading session at $76.3. The stock has a 50-day moving average of $72.88 and a 200-day moving average of $77.62.

salesforce.com inc (CRM) current short interest stands at 43 million shares. It has increased by 138% from the same period of last month. Around 7% of the company’s shares, which are float, are short sold. With a 10-days average volume of 4.76 million shares, the number of days required to cover the short positions stand at 9.1 days.

salesforce.com inc (CRM) expects to post results on November 17. The Applications Software company announced last quarter earnings per share of $0.24 against a consensus Street estimate of $0.22, beating the average estimate by $0.02. The company posted a revenue of $2.04 billion compared to an estimation of $2.02 billion.

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There are currently forty-seven analysts that cover salesforce.com inc stock. Of those forty-seven, forty-four have a Buy rating, two have a Hold rating and one has a Sell rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $93.86.

A recent analyst activity consisted of Oppenheimer reiterating their Outperform stance on October 26. Oppenheimer set their price target at $95. This corresponds to a 24.51% upside from the last closing price. On the date of report, the stock closed at $74.95.

Rosenblatt initiated their coverage on the stock with Buy rating on October 18, and fixed their price target at $90. This corresponds to a 17.96% upside from the last closing price. On the date of report, the stock closed at $72.77.

Another research firm was Cowen who reiterated their Outperform stance on October 6. Cowen fixed their price target at $100. This translates to a 31.06% upside from the last closing price. On the date of report, the stock closed at $71.26.

Company snapshot

salesforce.com, inc. provides software on demand. The Company supplies a customer relationship management service to businesses worldwide providing a technology platform for customers and developers to build and run business applications. Clients use salesforce.com to manage their customer, sales and operational data.

salesforce.com inc (NYSE:CRM) reaching 52-week high, short interest surging was last modified: November 8th, 2016 by Kelly Rhodes