Salesforce, Inc. (NYSE:CRM) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Salesforce, Inc. (NYSE:CRMGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the thirty-seven research firms that are covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a hold recommendation, twenty-seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $264.03.

A number of equities analysts have recently weighed in on the company. KeyCorp dropped their target price on Salesforce from $272.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday, November 22nd. Piper Sandler upped their target price on Salesforce from $266.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 2nd. Oppenheimer upped their target price on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Monday. Robert W. Baird upped their target price on Salesforce from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 23rd. Finally, Wolfe Research raised Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 price objective for the company in a research report on Monday, December 18th.

View Our Latest Report on CRM

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the sale, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $223.11, for a total transaction of $2,231,100.00. Following the sale, the insider now directly owns 58,930 shares of the company’s stock, valued at approximately $13,147,872.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the sale, the chief accounting officer now directly owns 2,869 shares in the company, valued at $799,618.99. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,398,178 shares of company stock worth $370,039,975. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Salesforce

Large investors have recently bought and sold shares of the business. Bear Mountain Capital Inc. bought a new position in Salesforce in the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC bought a new position in Salesforce in the fourth quarter valued at about $26,000. Kathleen S. Wright Associates Inc. bought a new position in Salesforce in the fourth quarter valued at about $31,000. Union Savings Bank bought a new position in Salesforce in the second quarter valued at about $27,000. Finally, BKM Wealth Management LLC bought a new position in Salesforce in the fourth quarter valued at about $34,000. 77.52% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of NYSE CRM opened at $287.54 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce has a twelve month low of $159.65 and a twelve month high of $295.24. The company has a market capitalization of $278.34 billion, a price-to-earnings ratio of 109.33, a PEG ratio of 1.87 and a beta of 1.28. The firm has a 50-day moving average of $269.19 and a two-hundred day moving average of $233.05.

Salesforce (NYSE:CRMGet Free Report) last posted its quarterly earnings data on Wednesday, November 29th. The CRM provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. The company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.71 billion. Salesforce had a net margin of 7.63% and a return on equity of 9.19%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 earnings per share. As a group, analysts expect that Salesforce will post 6.02 earnings per share for the current fiscal year.

About Salesforce

(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 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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Analyst Recommendations for Salesforce (NYSE:CRM)

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