Salesforce, Inc. (NYSE:CRM – Get Rating) has earned a consensus rating of “Buy” from the forty-five research firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $272.50.
A number of research analysts recently weighed in on CRM shares. Royal Bank of Canada set a $325.00 target price on shares of Salesforce in a research note on Wednesday, March 2nd. JPMorgan Chase & Co. lowered their target price on shares of Salesforce from $316.00 to $275.00 in a research note on Wednesday, June 1st. William Blair restated an “outperform” rating on shares of Salesforce in a research note on Wednesday, June 1st. Mizuho lowered their target price on shares of Salesforce from $295.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Salesforce from $300.00 to $260.00 in a report on Wednesday, June 1st.
In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the stock in a transaction on Monday, March 21st. The shares were sold at an average price of $213.82, for a total transaction of $491,786.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Srinivas Tallapragada sold 895 shares of the stock in a transaction on Monday, April 25th. The shares were sold at an average price of $171.68, for a total transaction of $153,653.60. Following the transaction, the insider now directly owns 47,309 shares in the company, valued at $8,122,009.12. The disclosure for this sale can be found here. Insiders have sold a total of 117,435 shares of company stock worth $22,142,730 in the last 90 days. 4.10% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of CRM. Norges Bank acquired a new stake in Salesforce during the fourth quarter worth about $2,689,030,000. Jennison Associates LLC increased its position in Salesforce by 42.2% during the fourth quarter. Jennison Associates LLC now owns 13,808,917 shares of the CRM provider’s stock worth $3,509,260,000 after purchasing an additional 4,096,666 shares during the last quarter. Morgan Stanley increased its position in shares of Salesforce by 20.2% during the second quarter. Morgan Stanley now owns 16,563,897 shares of the CRM provider’s stock valued at $4,046,065,000 after acquiring an additional 2,787,393 shares during the last quarter. Aaron Wealth Advisors LLC increased its position in shares of Salesforce by 76,897.5% during the first quarter. Aaron Wealth Advisors LLC now owns 2,727,250 shares of the CRM provider’s stock valued at $12,845,000 after acquiring an additional 2,723,708 shares during the last quarter. Finally, GQG Partners LLC acquired a new stake in shares of Salesforce during the third quarter valued at about $586,785,000. 77.75% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Salesforce stock opened at $163.26 on Friday. The company’s fifty day simple moving average is $173.77 and its 200-day simple moving average is $207.19. The stock has a market capitalization of $162.44 billion, a PE ratio of 158.51, a P/E/G ratio of 4.62 and a beta of 1.16. Salesforce has a 1-year low of $154.55 and a 1-year high of $311.75. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.03 and a quick ratio of 1.03.
Salesforce (NYSE:CRM – Get Rating) last issued its quarterly earnings results on Tuesday, May 31st. The CRM provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.38 billion. During the same quarter last year, the company posted $0.74 EPS. The company’s revenue was up 24.3% compared to the same quarter last year. As a group, research analysts anticipate that Salesforce will post 2.18 EPS for the current year.
About Salesforce (Get Rating)
Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company’s service offerings include 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.