Salesforce (NYSE:CRM) PT Raised to $325.00

Salesforce (NYSE:CRMGet Free Report) had its price objective increased by investment analysts at Oppenheimer from $300.00 to $325.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the CRM provider’s stock. Oppenheimer’s price target points to a potential upside of 11.57% from the stock’s previous close.

A number of other analysts also recently issued reports on CRM. Argus increased their target price on shares of Salesforce from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. Wedbush boosted their price objective on Salesforce from $255.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, November 30th. JMP Securities reiterated a “market outperform” rating and issued a $293.00 target price on shares of Salesforce in a research note on Monday, January 22nd. Piper Sandler boosted their price target on Salesforce from $266.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 2nd. Finally, Raymond James upped their price target on Salesforce from $280.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 30th. Nine investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $264.03.

Read Our Latest Report on CRM

Salesforce Stock Performance

Shares of CRM opened at $291.30 on Monday. Salesforce has a fifty-two week low of $159.65 and a fifty-two week high of $295.24. The stock has a fifty day moving average of $268.45 and a two-hundred day moving average of $232.61. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $281.98 billion, a PE ratio of 110.46, a price-to-earnings-growth ratio of 1.87 and a beta of 1.28.

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. Salesforce had a net margin of 7.63% and a return on equity of 9.19%. The company had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the company posted $0.73 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, analysts forecast that Salesforce will post 6.02 EPS for the current year.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 2,628 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $224.85, for a total transaction of $590,905.80. Following the completion of the transaction, the chief financial officer now directly owns 37,048 shares in the company, valued at approximately $8,330,242.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Amy E. Weaver sold 94,980 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $250.00, for a total value of $23,745,000.00. Following the completion of the transaction, the chief financial officer now directly owns 37,048 shares of the company’s stock, valued at approximately $9,262,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 2,628 shares of Salesforce stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $224.85, for a total value of $590,905.80. Following the sale, the chief financial officer now directly owns 37,048 shares in the company, valued at approximately $8,330,242.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,383,178 shares of company stock valued at $365,653,525. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bear Mountain Capital Inc. bought a new position in shares of Salesforce in the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC bought a new position in Salesforce during the 4th quarter valued at $26,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce in the 4th quarter worth $31,000. Union Savings Bank acquired a new stake in shares of Salesforce in the second quarter valued at $27,000. Finally, BKM Wealth Management LLC bought a new position in Salesforce during the fourth quarter valued at about $34,000. 77.52% of the stock is currently owned by institutional investors.

About Salesforce

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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.

Further Reading

Analyst Recommendations for Salesforce (NYSE:CRM)

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