Salesforce, Inc. (NYSE:CRM – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the forty ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation, twenty-five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $240.59.
Several brokerages have recently weighed in on CRM. StockNews.com upgraded shares of Salesforce from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 31st. Truist Financial reissued a “buy” rating and issued a $275.00 target price on shares of Salesforce in a report on Wednesday, September 13th. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 price target on shares of Salesforce in a research report on Friday. UBS Group upped their price target on shares of Salesforce from $220.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, August 31st. Finally, Stifel Nicolaus upped their price target on shares of Salesforce from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, August 31st.
Read Our Latest Analysis on Salesforce
Salesforce Stock Down 1.9 %
Shares of NYSE CRM opened at $214.61 on Monday. The company has a market capitalization of $208.82 billion, a price-to-earnings ratio of 134.97, a price-to-earnings-growth ratio of 1.66 and a beta of 1.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50-day moving average of $218.24 and a two-hundred day moving average of $206.68. Salesforce has a 1 year low of $126.34 and a 1 year high of $238.22.
Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.22. The company had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.53 billion. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. Salesforce’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 EPS. On average, analysts forecast that Salesforce will post 5.86 earnings per share for the current fiscal year.
Insider Buying and Selling at Salesforce
In other Salesforce news, CAO Sundeep G. Reddy sold 164 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $225.05, for a total value of $36,908.20. Following the completion of the sale, the chief accounting officer now owns 2,230 shares of the company’s stock, valued at $501,861.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 164 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $225.05, for a total value of $36,908.20. Following the completion of the sale, the chief accounting officer now owns 2,230 shares of the company’s stock, valued at $501,861.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian Millham sold 78,870 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $210.94, for a total value of $16,636,837.80. The disclosure for this sale can be found here. Insiders sold 698,191 shares of company stock valued at $152,203,804 over the last 90 days. 3.70% of the stock is owned by corporate insiders.
Institutional Trading of Salesforce
Hedge funds have recently made changes to their positions in the stock. Atlas Brown Inc. grew its stake in Salesforce by 0.7% in the second quarter. Atlas Brown Inc. now owns 6,237 shares of the CRM provider’s stock worth $1,318,000 after purchasing an additional 44 shares in the last quarter. Country Club Bank GFN boosted its holdings in Salesforce by 0.9% in the second quarter. Country Club Bank GFN now owns 5,778 shares of the CRM provider’s stock worth $1,216,000 after purchasing an additional 50 shares during the period. Summit X LLC boosted its holdings in Salesforce by 4.8% in the second quarter. Summit X LLC now owns 1,084 shares of the CRM provider’s stock worth $229,000 after purchasing an additional 50 shares during the period. Walkner Condon Financial Advisors LLC boosted its holdings in Salesforce by 2.0% in the first quarter. Walkner Condon Financial Advisors LLC now owns 2,599 shares of the CRM provider’s stock worth $519,000 after purchasing an additional 51 shares during the period. Finally, Western Pacific Wealth Management LP boosted its holdings in Salesforce by 1.2% in the first quarter. Western Pacific Wealth Management LP now owns 4,545 shares of the CRM provider’s stock worth $908,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 77.52% of the company’s stock.
About Salesforce
Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company’s service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.
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