Salesforce (NYSE:CRM) Earns Buy Rating from Stifel Nicolaus

Salesforce (NYSE:CRMGet Free Report)‘s stock had its “buy” rating restated by research analysts at Stifel Nicolaus in a note issued to investors on Wednesday, Benzinga reports. They presently have a $350.00 price objective on the CRM provider’s stock. Stifel Nicolaus’ target price points to a potential upside of 15.58% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. KeyCorp assumed coverage on Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating on the stock. Wedbush lifted their price objective on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, February 29th. JMP Securities lifted their price objective on Salesforce from $293.00 to $342.00 and gave the company a “market outperform” rating in a report on Thursday, February 29th. Truist Financial reiterated a “buy” rating and set a $360.00 price objective (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, Robert W. Baird lifted their target price on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $304.97.

Read Our Latest Stock Report on CRM

Salesforce Price Performance

Shares of CRM stock opened at $302.82 on Wednesday. The stock has a 50-day moving average price of $296.10 and a 200 day moving average price of $254.65. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $293.74 billion, a price-to-earnings ratio of 72.10, a PEG ratio of 2.32 and a beta of 1.28. Salesforce has a 12 month low of $187.31 and a 12 month high of $318.71.

Salesforce (NYSE:CRMGet Free Report) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the business earned $1.01 earnings per share. The company’s revenue was up 10.8% compared to the same quarter last year. Research analysts expect that Salesforce will post 7.45 EPS for the current year.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the transaction, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Brian Millham sold 393 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $280.00, for a total value of $110,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 216 shares of the company’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 sale, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The disclosure for this sale can be found here. Insiders sold a total of 913,175 shares of company stock worth $261,391,996 in the last ninety days. 3.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Salesforce

Institutional investors and hedge funds have recently made changes to their positions in the business. ST Germain D J Co. Inc. boosted its holdings in Salesforce by 0.8% in the first quarter. ST Germain D J Co. Inc. now owns 21,286 shares of the CRM provider’s stock worth $6,411,000 after acquiring an additional 178 shares in the last quarter. Modus Advisors LLC lifted its holdings in shares of Salesforce by 3.5% in the first quarter. Modus Advisors LLC now owns 12,602 shares of the CRM provider’s stock valued at $3,795,000 after purchasing an additional 424 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $51,000. Newbridge Financial Services Group Inc. increased its position in shares of Salesforce by 25.1% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,701 shares of the CRM provider’s stock valued at $974,000 after acquiring an additional 743 shares during the last quarter. Finally, HighPoint Advisor Group LLC purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $4,856,000. Institutional investors own 80.43% of the company’s stock.

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 artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.

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