Stock Update: Salesforce.com Inc (NYSE:CRM) – Wedbush Upgrades Salesforce.com, Cites Opportunity To ‘Disrupt Software Categories’

[Benzinga] – Shares of salesforce.com, inc. (NYSE: CRM ) have appreciated 32.19 percent year-to-date, reaching a high of $82.14 on December 4. Wedbush’s Steve Koenig has upgraded the rating on the company from Neutral … Read more on this. salesforce.com, inc. (CRM) , valued at $51.90B, began trading this morning at $78.12. Looking at today’s trading action, the company’s one day range from $78.11 to $79.97 with its 52-week range being $54.95 to $82.90. Priced at 104.57x this year’s forecasted earnings, CRM shares are relatively expensive compared to the industry’s 8.45x forward p/e ratio. In a review of the consensus earnings estimate this quarter, 41 sell-side analysts are looking at $0.19 per share, which would be $0.05 better than the year-ago quarter and a $0.00 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $0.75 would be a $0.23 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.79 Billion. If realized, that would be a 24.31% increase over the year-ago quarter. More recently, Pivotal Research Group upgraded CRM from Hold to Buy (Aug 21, 2015). Previously, Northland Capital Initiated CRM at to Outperform. The average price target for CRM shares is $89.53, which is 14.61% above where the stock opened this morning. See more in (NYSE:CRM) Similar Articles: Stock Update: Salesforce.com Inc (NYSE:CRM) – Salesforce Positioned in Gartner’s Leaders Quadrant in the 2015 Magic Quadrant for Social Software in the Workplace and 2015 Magic Quadrant for Horizontal Portals Stock Update (NYSE:CRM): Seal Software Launches Newest Module for Salesforce.com to Provide Enhanced Insights into Customer Relationships Stock Update: Salesforce.com Inc (NYSE:CRM) – Salesforce Introduces Salesforce Financial Services Cloud: Transforming the Client-Advisor Relationship