Salesforce (NYSE:CRM) PT Raised to $360.00 at Jefferies Financial Group

Salesforce (NYSE:CRM) had its price target hoisted by Jefferies Financial Group from $350.00 to $360.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a buy rating on the CRM provider’s stock.

Several other research firms have also recently weighed in on CRM. Argus increased their target price on shares of Salesforce from $290.00 to $354.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Canaccord Genuity Group reissued a buy rating and issued a $350.00 price target on shares of Salesforce in a research report on Thursday, March 7th. KeyCorp began coverage on shares of Salesforce in a research report on Thursday, March 21st. They issued a sector weight rating for the company. Stifel Nicolaus reissued a buy rating and issued a $350.00 price target on shares of Salesforce in a research report on Wednesday, April 3rd. Finally, UBS Group increased their price target on shares of Salesforce from $285.00 to $310.00 and gave the stock a neutral rating in a research report on Friday, February 16th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $310.61.

Salesforce Stock Down 1.1 %

CRM stock opened at $273.09 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce has a 52-week low of $190.57 and a 52-week high of $318.71. The company has a 50-day moving average of $296.28 and a two-hundred day moving average of $263.44. The stock has a market capitalization of $264.90 billion, a price-to-earnings ratio of 65.02, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the company earned $1.01 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts anticipate that Salesforce will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Insider Activity

In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $285.05, for a total value of $4,275,750.00. Following the completion of the transaction, the chief executive officer now owns 13,656,166 shares of the company’s stock, valued at approximately $3,892,690,118.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Amy E. Weaver sold 7,075 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $2,188,439.00. Following the sale, the chief financial officer now directly owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $285.05, for a total transaction of $4,275,750.00. Following the completion of the sale, the chief executive officer now directly owns 13,656,166 shares in the company, valued at $3,892,690,118.30. The disclosure for this sale can be found here. Insiders sold 620,793 shares of company stock valued at $182,177,918 in the last quarter. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Several institutional investors have recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. bought a new stake in Salesforce during the 4th quarter worth about $26,000. Signature Resources Capital Management LLC bought a new stake in Salesforce during the 4th quarter worth about $26,000. Red Tortoise LLC bought a new stake in Salesforce during the 1st quarter worth about $33,000. Kathleen S. Wright Associates Inc. bought a new stake in Salesforce during the 4th quarter worth about $31,000. Finally, BKM Wealth Management LLC bought a new stake in Salesforce during the 4th quarter worth about $34,000. 80.43% of the stock is owned by institutional investors.

Salesforce Company Profile

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.