Stock Update: Salesforce.com Inc (NYSE:CRM) – Salesforce: Bulls Love Purchase of App Provider SteelBrick

[at Barrons.com] – Shares of cloud computing pioneer Salesforce.com (CRM) are down 28 cent at $77.76, after the company last night announced in an 8-K filing with the Securities & Exchange Commission that it has acquired startup SteelBrick, one of its application partners, for $360 million in stock. SteelBrick has billed itself as the largest provider of “quote-to-cash” applications on Salesforce’s platform. Read more on this. salesforce.com, inc. (CRM) , currently valued at $51.68B, started trading this morning at $78.03. During today’s session, CRM traded between $77.58 to $78.35 with a one year range of $54.95 to $82.90. Priced at 104.05x this year’s forecasted earnings, CRM shares are relatively expensive compared to the industry’s 9.02x forward p/e ratio. According to a consensus of 41 analysts, the earnings estimate of $0.19 per share would be $0.05 better than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $0.75, which would be a $0.23 better than last year. 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, Wedbush upgraded CRM from Neutral to Outperform (Dec 18, 2015). Previously, Pivotal Research Group upgraded CRM from Hold to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $90.00, which is 15.34% above where the stock opened this morning. See more in (NYSE:CRM) Similar Articles: Company Update: Salesforce.com Inc (NYSE:CRM) – Salesforce.com (CRM) Stock Gains on Box Partnership Market Update: Salesforce.com Inc (NYSE:CRM) – Salesforce Unveils the Next Wave of Salesforce Analytics Cloud–Delivering Actionable Insights Across the Customer Success Platform Stock Update: Salesforce.com Inc (NYSE:CRM) – Salesforce Introduces Salesforce Financial Services Cloud: Transforming the Client-Advisor Relationship