KeyBanc Maintains a Buy Rating on Salesforce.com

By Jason Carr

In a report released yesterday, Brent Bracelin from KeyBanc maintained a Buy rating on Salesforce.com (NYSE: CRM), with a price target of $147. The company’s shares closed yesterday at $116.25, close to its 52-week high of $118.15.

Bracelin noted:

“We remain bullish on CRM, as well as ADBE, MSFT, and WDAY, as the top cloud platforms to own based our view that these platforms are hitting escape velocity as cloud adoption goes mainstream in the enterprise.”

According to TipRanks.com, Bracelin is a top 100 analyst with an average return of 17.0% and a 74.7% success rate. Bracelin covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Tyler Technologies, and CommVault Systems.

Currently, the analyst consensus on Salesforce.com is Strong Buy and the average price target is $130.93, representing a 12.6% upside.

In a report issued on February 15, Jefferies also upgraded the stock to Buy with a $132 price target.

The company has a one-year high of $118.15 and a one-year low of $80.50. Currently, Salesforce.com has an average volume of 4.47M.

Based on the recent corporate insider activity of 445 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

salesforce.com, inc. is a customer relationship management company, which engages in the provision of enterprise software.