Salesforce (NYSE:CRM – Get Free Report)‘s stock had its “sector perform” rating reaffirmed by research analysts at Royal Bank Of Canada in a research report issued on Monday,Benzinga reports. They currently have a $275.00 price objective on the CRM provider’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 6.74% from the company’s previous close.
Other equities research analysts have also issued research reports about the company. Guggenheim raised Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Macquarie restated a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. DA Davidson restated an “underperform” rating and set a $200.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. Citigroup reduced their price target on Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Finally, UBS Group set a $404.00 target price on shares of Salesforce and gave the stock an “overweight” rating in a research report on Wednesday, June 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $348.16.
View Our Latest Analysis on CRM
Salesforce Price Performance
CRM stock opened at $257.64 on Monday. The company has a market capitalization of $246.31 billion, a PE ratio of 40.32, a P/E/G ratio of 2.35 and a beta of 1.36. Salesforce has a 12-month low of $230.00 and a 12-month high of $369.00. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The business’s fifty day moving average price is $271.51 and its 200 day moving average price is $287.73.
Salesforce (NYSE:CRM – Get Free Report) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. Salesforce’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $2.44 earnings per share. On average, sell-side analysts anticipate that Salesforce will post 7.46 EPS for the current year.
Insider Buying and Selling
In other news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $260.30, for a total transaction of $585,675.00. Following the completion of the transaction, the chief executive officer directly owned 11,955,566 shares in the company, valued at approximately $3,112,033,829.80. This represents a 0.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 405 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $106,251.75. Following the transaction, the insider owned 9,933 shares in the company, valued at $2,605,922.55. This trade represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,569 shares of company stock valued at $8,533,528 over the last three months. Company insiders own 3.20% of the company’s stock.
Institutional Investors Weigh In On Salesforce
Institutional investors and hedge funds have recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in Salesforce in the 4th quarter valued at approximately $25,000. Painted Porch Advisors LLC grew its stake in shares of Salesforce by 260.0% in the second quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock worth $25,000 after acquiring an additional 65 shares during the last quarter. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $27,000. Capital A Wealth Management LLC lifted its position in Salesforce by 450.0% in the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 90 shares during the period. Finally, CBIZ Investment Advisory Services LLC lifted its stake in Salesforce by 314.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 85 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.
Salesforce Company Profile
(Get Free Report)
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 artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.
Further Reading
Receive News & Ratings for Salesforce Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Salesforce and related companies with MarketBeat.com’s FREE daily email newsletter.
